General Information |
Company Law |
Business Companies Act 2004 |
Type of Company |
Business Company (BC) |
Language of Legislation and Corporate Documents |
English |
Taxation of Foreign Profits |
Nil |
Exchange Controls |
None |
Length of Time to Incorporate |
2 to 3 working days |
Shelf Companies Available |
Yes |
|
Corporate Names |
Name Restrictions |
Names identical or similar, offensive words |
Endings and Abbreviations Required |
Limited, Corporation, Incorporated, Sociedad Anonima, or its abbreviations |
Length of Time to Verify Name Availability |
One hour |
Reservation of Names Permitted |
Yes |
Language of Name |
Any language using the Latin alphabet |
Name of Banks, Insurance, Investment Fund, Trust Company or their equivalents requiring consent or license |
Yes |
|
Capital and Shareholders |
Minimum Number of Shareholders |
One |
Local Shareholders Required |
No |
Corporate Shareholders Permitted |
Yes |
Disclosure of Shareholders |
No |
Minimum Authorised Shares to be issued |
No minimum |
Bearer Shares Permitted |
Yes |
Registered Shares Permitted |
Yes |
No Par Value Shares Permitted |
Yes |
|
Directors and Officers |
Minimum Number of Directors |
One |
Qualifications of Directors |
Legal age |
Officers Required |
No |
Corporate Directors/Officers Permitted |
Yes |
Local Directors/Officers Permitted |
No |
Appointment of Subsequent Directors/Officers |
Memorandum and Articles of Association |
|
Meetings |
Annual General Meeting of Shareholders Required |
No |
Annual General Meeting of Directors Required |
No |
Location of Directors and Shareholders Meetings |
Anywhere |
Adoption by Consent Permitted |
Yes |
Quorum required for purposes of meetings |
Memorandum and Articles of Association |
|
Local Requirements |
Qualified Registered Office/Agent |
Yes/Yes |
Government Register of Shareholders |
Optional |
Government Register of Directors/Officers |
Optional |
Government Register of Charges |
Optional |
Register of Directors/Officers to be kept at Registered Office |
Yes |
Company Seal Required |
Yes |
Copy of Minutes to be kept at Registered Office |
Optional |
Copy of Share Register to be kept at Registered Office |
Yes |
|
Annual Requirements |
Minimum Annual License Fee or Franchise Tax |
US$350.00 |
Annual License Fee or Franchise Tax Due Date |
May 31st and November 30th |
Applicable Surcharges |
10% and 50% |
Requirement to File Annual Returns |
No |
Requirement to Submit Annual Audited Accounts |
No |
|
Other Relevant Information |
Member of Apostille of the Hague Convention |
Yes |
Increase or Reduction of Amount of shares to be issuedl |
By directors¡¦ resolution |
Redomiciliation Prohibited |
No |
Reinstatement at Registry |
Yes |
Removal from Registry |
Compulsory or voluntary winding up and dissolution; and striking-off for non-payment. |