1.
|
Advantages
|
- One of the newest Caribbean jurisdictions that, as a result, has benefited from mistakes that others have made by implementing highly flexible legislation which allows operation of the company's affairs in the way most desired by the beneficial owner
- Very cost effective
- Speedy incorporation time
|
2.
|
Disadvantages
|
- Because of lack of public registers, ownership can be difficult to prove
- Not recommended for high profile trading operations
|
3.
|
Company Status
|
|
International Business Company (IBC)
|
4.
|
Corporate legislation
|
Common Law - International Business Companies Act 1990
|
5.
|
Company Name
|
Certain words are prohibited, eg Royal, Imperial, Bank, Insurance, etc
|
6.
|
Time taken to incorporate
|
1-2 days
|
7.
|
Are shelf companies available?
|
Yes
|
8.
|
Usual minimum capital
|
No minimum, but shelf companies generally have a capital of US$50,000
|
9.
|
Capital Duty
|
US$100
|
10.
|
Minimum number of shareholders
|
One
|
11.
|
Are bearer shares/shares of no par value possible?
|
Yes but must be held by a recognised professional such as ourselves / Yes
|
12.
|
Directors: minimum number / corporate directors allowed / location
|
One / Yes / No restriction
|
13.
|
Secretary: mandatory / corporate secretary allowed / location
|
No / Yes / No restriction
|
14.
|
Is there a requirement for a Registered Office / Registered Agent?
|
Yes / Yes
|
15.
|
Is any information required by the authorities prior to incorporation or prior to tax status being granted?
|
None
|
16.
|
What information is available on the public file?
|
Memorandum & Articles of Association / Registered Office & Registered Agent
|
17.
|
What documents must be kept at the Registered Office?
|
Copies of the Register of Members and Register of Directors (if maintained) together with an impression of the seal.
|
18.
|
Corporate books & seal
|
Company must have a seal, and the above registers
|
19.
|
Are accounts required / filed?
|
No / No
|
20.
|
Is an annual return required?
|
No
|
21.
|
Where are meetings to be held?
|
No restriction
|
22.
|
Annual fees payable to the government: Tax / Annual Return Filing Fee
|
US$100 if authorised capital is US$50,000 or less
US$1,000 if authorised capital is more than US$50,000
US$350 if authorised capital is shares with no par value
|
23.
|
Are there any exchange controls?
|
Yes, but not applicable to International Business Companies
|
24.
|
Double tax treaties
|
None |
