The below is a list of consultancy firms, legal & accounting services who are able to help you control and manage your offshore company should your current agent not be able to help you. The use of the below listed offshore company service providers is used at own risk. CCLOGIC Ltd can't be held responsible for any lack of service provided.
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Seychelles Company Share Capital, Paid In Capital without any tax complications how?
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Business or investment is the best way to earn money on regular basis. In these days, most people try to commence small scale business just for sake of profit and not for loss. Usually they prefer to establish private as well as cooperative companies that can yield them maximum output at minimize cost. Thus, everyone seeks for a business that can deliver more benefits at smart or less cost. If you want commencing a business, then you should choose the most fertile or beneficial place or area....04-06-2014, 07:47 PM
Hello, I just got informed that Barclays in the Seychelles rised the minum balance for corporate bank accounts to USD 100,000 and personal accounts to USD 50,000 this is much more than what I have in my account on a annual basis Can anyone please suggest a new offshore bank which don't have these insane minum deposit amounts? Here is what I got from Barclays Bank in the Seychelles: Dear Esteemed Customer Barclays Bank (Seychelles) Ltd a member of the Barclays Group has been pioneering in providing world class service to all our customers including those in the offshore sector. We continously strive to find ways to bring world class banking faciliti...01-16-2012, 05:55 AM
First of all we want to whish you a Happy New Year and all the best for 2012.
We have some exciding news which we want to share with you. One of our partnered banks, Bank of Piraeus, has changed the cards they provide to foreign account holders. What does it mean for you is that as an existing client of the bank or a new customer can easily obtain a Platinum Debit Card, which can be used in any store, ATM and on the Internet where the Visa Logo appears.
Below we have outlined the key information and already answered the most frequently important questions we got asked already.
What is the credit limit?
• If the limit is up...01-06-2012, 10:10 AM
We are posting this, to inform you that on Friday 26 August, the Cyprus Parliament voted the first package of austerity measures in the form of tax amendments in order to improve Government finances and reduce the budget deficit. As a result of such measures, a fixed annual levy of EUR 350 has been introduced, which is imposed on every Cyprus company, and capped at EUR 20,000 for companies belonging in a group as defined in Companies Law. This levy will not apply to dormant companies, companies that do not own any assets, or companies that own p...11-10-2011, 08:41 AM
Seychelles Company Share Capital, Paid In Capital without any tax complications how?The purpose of this FAQ is to clarify:
(a) the concepts of authorized share capital and paid up share capital; and
(b) how you might deal with the situation of investors who intend to buy shares in a collective company but who are presently unable to fund same.
Just for clarification authorized share capital is the amount of share capital a company can raise. If the maximum authorized share capital of a company is $100,000 then the company can only issue and sell $100,000 worth of shares (eg 100,000 shares of one US Dollar each or 10,000 shares of Ten US dollars each or say 1,000,000 shares of say 10 cents each, etc). If the maximum authorized share capital is $US1,000,000 (1 Mill USD) then a company can issue and sell $1,000,000 worth of shares (eg 1,000,000 shares of one US Dollar each or 100,000 shares of ten USDollars each etc or ten million shares of 10 cents each).
It is obviously in the clients’ interests to have a higher authorized share capital as it means the client can raise (or sell shares to the value of) up to one million USD (instead of just 100,000) as-of-right (and without having to come back to the registry to amend the Memo and Articles and pay a further fee to the registry).
The law has changed here recently. Previously the maximum amount of share capital you could have, and still pay the minimum incorp/annual government fee, was one hundred thousand USD ($US100,000).
Now you can have up to one million dollars ($US1,000,000) or more authorized share capital for the same minimum fee.
I guess one of the first thing you will want to work out is how much of the company do you want to sell from the outset at how much do you want to leave “unsold” so you can sell further shares later?
• Say you have 7 shareholders committed to investing 20,000 each
• Say you want to be able to sell more shares later
• Say 2 of the investors don’t presently have the money
What we can do is this:
• When we set up the company we could tailor the company to provide for both Class A shares ie voting shares and Class B shares ie non-voting shares
• You could issue 2000 Class A shares (ie voting shares to each of the 5 shareholders) from the outset
• You could issue an Option (to purchase 2,000 shares at a price of 10 cents each for say 6 months) to the 2 committed but presently non-financial investors
• In the Option document we could stipulate that the price is to rise by x% per month for each month that the shares are not paid for. This extra amount is called a share premium. The initial price per share at which shares are offered/sold is called the par value.
• New (ie non manager/non executive) shareholders may be brought in later. The board can decide at that time whether to offer further shares for sale and if so at what price.
Point to note: If the total paid up share capital is say $100,000 (ie 5 lots of 20,000) and only 10,000 shares have been issued in total, if you hold 2,000 of those shares you own 20% of the company.
I hop this clarifies the concept of authorised and paid up share capital (and share options) for you. .
Should have any further queries please do not hesitate to contact us (or to seek independent legal/accounting/financial advice, as you may prefer).Posting comments is disabled.