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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    who know about your banking affairs In other words offshore bank accounts and numbered accounts held in Andorra are said to be exceptionally secure secretive and private Tax avoidance is not really considered a crime in the nation however money laundering is and Andorra was forced to sign up to the EU Savings Tax Directive but elected for the withholding tax option Cyprus Cyprus was popular as a centre for the establishment of offshore companies until the nation joined the European Union back in 2004 since then it has become more expensive to operate a company from Cyprus although tax levels are competitive when compared to non tax havens within Europe At the moment Cyprus is also a very popular place for the establishment of offshore bank accounts for international business companies registered elsewhere and because banking secrecy levels are strictly maintained at the moment it is considered a secure jurisdiction from which to operate an offshore bank account Personal and company taxation can be low in Cyprus particularly for IBCs and retired expatriates Gibraltar With the use of special tax regimes Gibraltar has been successful in attracting the asset management and offshore banking business of high net worth individuals who prefer the strong levels of protection the jurisdiction offers them as well as additional benefits such as the fact that Gib has a favourable tax status there are no exchange controls communications and facilities are excellent the government is stable and Gibraltar is an EU member Guernsey The economy in Guernsey is certainly dominated by the financial services sector therefore it is of no surprise that the government of the jurisdiction does all it can on a continual basis to ensure that the nation remains as competitive as possible to attract continued business growth With the largest captive insurance sector in Europe Guernsey also has strong banking investment fund and trusts sectors too Ireland There are a number of business areas in which Ireland provides offshore or tax efficient regimes and Ireland is unique in that it has managed to successfully embrace full EU membership and all the benefits that have gone along with that membership together with all the added benefits of having an active and successful offshore environment In fact Ireland has successfully beaten the likes of the Channel Islands and the Isle of Man at their own game Banks that offer attractive offshore services are established within the International Financial Services Centre in Dublin and they benefit from the centre s low tax levels Isle of Man For private banking services for British expats and foreign nationals living in the UK the Isle of Man is very popular indeed The level to which services are offered to these private banking clients goes far beyond simple deposit taking and simple investment management to incorporate everything from trust establishment and operation to managing the underlying companies or assets of the trust The Isle of Man is also very well respected for the levels of investor protection it offers

    Original URL path: http://www.mvm.am/?p=european-jurisdictions&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    meeting of shareholders Shareholders The shareholders of a public company with limited liability Limited liability Ltd Public Limited Company may be both legal and natural persons who are residents of any country in the world Minimum number of shareholders one maximum not limited Shareholders in a private company with limited liability Proprietary Company Pty Limited by Share can be both legal and natural persons who are residents of any country in the world Minimum number of shareholders one maximum 50 Members of the Company with limited liability under the guarantee Company Limited by Guarantee can be both legal and natural persons who are residents of any country in the world Minimum number of members one maximum not limited Participants of the Partnership can be both legal and natural persons who are residents of any country in the world Minimum number of partners 2 max 20 Directors and secretaries Directors of a limited liability company Limited liability Ltd Public Limited Company may be both legal and natural persons who are residents of any country in the world Minimum number 3 directors At least 2 directors must be resident in Australia Also requires a minimum of 1 corporate secretary a resident of Australia Directors of a private limited liability company Proprietary Company Pty Limited by Share can be both legal and natural persons who are residents of any country in the world The presence of the corporate secretary is not required If the company will have a corporate secretary he must be a resident of Australia Directors of the Company with limited liability under the guarantee Company Limited by Guarantee can be both legal and natural persons who are residents of any country in the world Minimum number 3 directors with all rights except those within the exclusive competence of shareholders determined by the memorandum At least 2 directors must be residents of Australia Also it is required to have a minimum of 1 corporate secretary a resident of Australia Holding meetings of shareholders directors Shareholders Meetings may be held at any place within six months after the end of the fiscal year and not later than 15 months from the date of the previous meeting Minutes of meetings of shareholders are stored in the registration office Taxation From a tax perspective Australia shares the physical and legal persons resident or not Thus a company registered in Australia pay income tax on income from any source except for foreign companies that carry out business outside the jurisdiction Australia is using the system of advance tax payments PAYG through which all necessary payments during the fiscal year are made On the need to make advance payments you are required to notify the Australian Taxation Department Australian Tax Office Corporate income tax is a floating rate which is set on the basis of the state budget approved by Parliament For 2002 the state budget approved by the rate of 30 in net income 1999 36 Value Added Tax Complete Tax Guide will be charged

    Original URL path: http://www.mvm.am/?p=australia&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    The country has developed a high standard of living and in 2008 was ranked 14th in the world for its Human Development Index Austria has been a member of the United Nations since 1955 joined the European Union in 1995 and is a founder of the OECD Austria also signed the Schengen Agreement in 1995 and adopted the European currency the euro in 1999 Registration of companies in Austria Company Form Proprietary Company Public Limited Company Company Limited by Guarantees Partnership Trust Sole Trader Branch Branch of foreign company A company with limited liability GmbH is by far the most usual form of company A GmbH is a legal entity Shareholders are not personally responsible for the liabilities of the company except for the obligation to pay up their capital contributions Private Limited Company Gesellschaft mit beschränkter Haftung GmbH A limited company can be founded only one person with a minimum capital of 35 000 and there is no requirement for the directors or shareholders to be Austrian nationals The GmbH is the most convenient form of organisation owing to the relative flexibility it offers and most foreign owned businesses in Austria are operating as a GmbH The Gesellschaft mit beschränkter Haftung GmbH is a separate legal entity that essentially limits the responsibility of the shareholders to the amount of share capital Shareholders Single shareholder companies are permitted A GmbH has to be incorporated by one or more persons who may be individuals or legal entities resident or non resident Austrian or foreign citizens Directors A GmbH can have one or more directors and there is no requirement for the directors to be Austrian nationals What duties are levied on company formation A capital transfer tax Gesellschaftssteuer equivalent to 1 of the share capital Stammkapital must be paid for setting

    Original URL path: http://www.mvm.am/?p=austria&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    Corporate Documents Preparation Of Local Acts Registration And Reorganization Of Companies Court Consulting Legal Consulting Tax Consulting Accounting Services Bureau of translations Offshore European Jurisdictions Australia Austria Denmark Finland France Gibraltar Isle of Man Jersey Liechtenstein Trust New Zealand Sweden

    Original URL path: http://www.mvm.am/?p=denmark&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    the Gulf of Finland The capital city is Helsinki Around 5 3 million people reside in Finland with the majority concentrated in the southern part of the country It is the eighth largest country in Europe in terms of area and the most sparsely populated country in the European Union Finland is a parliamentary republic with a mostly Helsinki based central government and local governments in 348 municipalities A total of about one million residents live in the Greater Helsinki area which includes Helsinki Espoo Kauniainen and Vantaa and a third of the country s GDP is produced there Other major cities include Tampere Turku Oulu Jyväskylä Kuopio and Lahti Finland is well placed in many international comparisons of national performance such as the share of high technology manufacturing and health care The country is ranked 1st in the 2009 Legatum Prosperity rating which is based on economical performance and quality of life Finland s economic stability and high tech industrial base has made it a key target for international investors Anyone can set up a limited company in Finland irrespective of nationality so long as one of the company s founding members is resident in the European Economic Area If the founder is a legal person its domicile should be in an EEA country the EEA compromises all the EU countries plus Iceland Liechtenstein Norway and Switzerland The most common type of company in finland The two most popular forms of business entity in Finland are public limited company osakeyhtiö Oyj private limited company osakeyhtiö Oy How much share capital is required to establish a public limited company OYJ The minimum share capital for a public limited company is 80 000 Other requirements for a public limited company a minimum of three board directors plus a chief executive it

    Original URL path: http://www.mvm.am/?p=finland&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    Saint Martin France is linked to the United Kingdom by the Channel Tunnel which passes underneath the English Channel France is the largest state in the European Union by area and the second largest in Europe behind Ukraine France is a developed country and possesses the fifth largest economy by nominal GDP and eighth largest economy by purchasing power parity It is the most visited country in the world receiving 82 million foreign tourists annually France is one of the founding members of the European Union and has the largest land area of all members It is also a founding member of the United Nations and a member of the Francophonie the G8 G20 NATO OECD WTO and the Latin Union It is one of the five permanent members of the United Nations Security Council possesses the third largest number of nuclear weapons in the world and the largest number of nuclear power plants in the European Union The most common type of company in France There are three main kinds of business entity in France business corporation Societé Anonyme SA limited company SARL simplified stock corporation SAS The requirements for an SA company the minimum share capital is 37 000 of which at least half must be paid up the company must have at least seven shareholders shareholders are liable up to the limit of their capital contribution accounts must be audited in line with statutory requirements top managers are treated as employees for tax and social security purposes The requirements for a SARL company the minimum share capital was recently reduced to 1 00 the minimum number of shareholders is one shareholders are liable up to the limit of their capital contribution accounts must be audited in line with statutory requirements top managers have more onerous tax and

    Original URL path: http://www.mvm.am/?p=france&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    enjoys special status within the Community and is exempted from the Common Customs Tariff the Common Agricultural Policy and Value Added Taxation Gibraltar is politically stable and the current Government actively promotes Gibraltar as a first class international financial centre Infrastructure And Economy Since the opening of the border with Spain in 1985 the level of tourism and investment has increased dramatically Several international banks and insurance companies have offices in Gibraltar Gibraltar has excellent modern postal and telecommunications systems Thanks to a joint venture between the Gibraltar Government and the Nynex Corporation of the USA Gibraltar enjoys the latest in digital and fibre optic telecommunications There are daily flights between Gibraltar and London and frequent scheduled air services to Manchester Luton and Tangier Although it is not at present possible to fly direct from Gibraltar to Spain and other destinations the airports at Seville Jerez and Malaga can easily be reached by road and provide direct services to many international destinations The Port of Gibraltar enjoys free port status and hosts frequent calls from many of the world s shipping lines both passenger and freight Language The official and spoken language is English although because of Gibraltar s close proximity to Spain Spanish is spoken widely Currency UK Pound Local notes and coins are produced but UK Currency is accepted as is the Spanish Peseta with most shops displaying dual currency price tags Exchange Control None Type Of Law Common Law based on English Common Law Principal Corporate Legislation Based on the United Kingdom 1929 Companies Act as amended and the Companies Ordinance 1984 as amended Company Information Type Of Company For International Trade And Investment Exempt Company Procedure To Incorporate Filing of Memorandum and Articles of Association Statement of the Situation of Registered Office a statement declaring the Authorised Share Capital and a Declaration of Compliance Restrictions On Trading Cannot trade within Gibraltar or undertake the business of banking deposit taking insurance assurance reinsurance fund management asset management or any other activity associated with the finance industry Powers Of Company A company incorporated in Gibraltar has the same powers as a natural person Language Of Legislation And Corporate Documents English Registered Office Required Yes must be maintained in Gibraltar Time Scale To Incorporate Subject to name approval a company can be incorporated within five working days Name Restrictions Any name that is identical or similar to an existing company Any name which in the opinion of the Registrar is undesirable or offensive Any name which suggests royal or government patronage Any English name or their foreign language equivalent which may imply a field of activity associated with the banking or finance industry Language Of Name The name can be in any language that uses the Latin alphabet but must be accompanied by a translation to ensure that the name is not prohibited or licensable Names Requiring Consent Or A Licence The following names or their derivatives bank building society insurance assurance reinsurance fund management asset management investment fund

    Original URL path: http://www.mvm.am/?p=gibraltar&l=eng (2012-12-28)
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  • MVM Consulting Company Armenia - Legal Consulting Armenia, Consulting Armenia, Accounting Armenia, Legal Services Armenia, Consulting Services Armenia
    the Island Exchange Control None Type Of Law Common Law based on English Common Law Principal Corporate Legislation The Companies Acts 1931 to 1993 The International Business Act 1994 Limited Liability Companies Act 1996 Company Information Type Of Company For International Trade And Investment Two types of company are generally used for trade and investment the Exempt Company and the Limited Liability Company The Exempt Company by law must have at least one Isle of Man resident director and must appoint an Isle of Man resident company secretary who must be a natural person and hold a professional qualification The Exempt Company is normally used for personal or corporate investment holding and for trading activities with European Union countries The Limited Liability Company legislation is based on US LLC legislation Manx LLCs must have two members and appoint a local registered agent Procedure To Incorporate Exempt Submission of Memorandum and Articles of Association together with Form I nominating the first directors and secretary and advise of the situation of the Registered Office and the form giving name approval Immediately after incorporation the company must select Exempt status LLC Filing of Articles of Organisation with the Registry Restrictions On Trading Cannot trade within the Isle of Man Cannot undertake banking or insurance activities Cannot undertake investment business other than the investment of the company s own assets Cannot solicit funds from the public nor offer its shares to the public Powers Of Company An Isle of Man company has all the powers of a natural person Language Of Legislation And Corporate Documents English Registered Office Required Manx Exempt Companies must maintain a registered office in the Isle of Man Time Scale To Incorporate One day subject to name approval Name Restrictions Exempt and LLC A name that is similar to or identical to an existing company A name that is known to exist elsewhere A name that implies illegal activities A name that implies royal or government patronage Exempt Companies Many names require justification or high capitalisation to allow use Words such as International European or other words indicating an international presence will only be approved if the Company is incorporated with an authorised capital of 100 000 which must be paid up Use of the words Trust Trustees or Fiduciary will only be approved if the company is incorporated with an authorised capital of 250 000 which must be paid up Use of the word Holdings will only be approved if the Company can provide documentary evidence that it holds 51 or more of an underlying company Use of the word Group will only be approved if the company can provide documentary evidence that the company owns a group of companies Language Of Name Names can be expressed in any language using the Latin alphabet if the Registrar of Companies is in receipt of an English translation and the name is not considered undesirable Names Requiring Consent Or A Licence The following names or their derivatives bank building society savings

    Original URL path: http://www.mvm.am/?p=isle-of-man&l=eng (2012-12-28)
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