Offshore Mutual Funds. What is a Mutual Fund, Pooled Fund or Open Ended Investment Trust?
What is a mutual fund? An investment fund is a pool of money contributed by a small or large number of subscribers, unit-holders or shareholders, which is invested and administered on their behalf. They share the proceeds (or losses) in proportion to their subscriptions after deduction of costs. What is an offshore investment fund? One which is based in an offshore jurisdiction (although the term is often used, perhaps incorrectly, to describe a fund which is based outside a particular high-tax country). An offshore investment fund may have the problem that it cannot market into some important high-tax countries unless its local supervisory and regulatory regime is 'recognised' by high-tax countries as being up to their standards. Broadly speaking, this means that if you see an offshore fund being marketed in a high-tax country, its investment behaviour is probably quite constrained, and this may limit its ability to achieve high returns, in the interests of protecting investors.
We encourage you to contact us with any questions you may have regarding a planned or proposed mutual fund start-up. Coddan CPM will respond within 24 hours for simple inquiries, and within 72 hours if you require detailed information. Please note that the content of this article is designed to provide general information on the subject matter covered. No legal or other professional advice or option is being rendered. Any liability or loss incurred as a consequence, directly or indirectly from the use or application of the information contained herein, is specifically disclaimed. Coddan CPM also offers a host of additional offshore administrative services, including: nominee directors and shareholders, invoicing, re-invoicing, handling of letters of credit and all related commercial documentation. Registration of P. O. Box, telephone and mail forwarding, accounting and bookkeeping services. We are able to offer our clients, both private and corporate, a complete range of banking facilities including corporate accounts, electronically managed accounts (via the internet), high yield savings accounts, and coded accounts. Let us know how we can help.
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Further information
Same day mutual fund incorporation in offshore FAQ, online Offshore mutual fund FAQs and Offshore mutual fund filing service. What is offshore mutual fund? They are ruled by the Law of Incorporated mutual fund and are divided into two categories: open and closed. The closed offshore-incorporated companies are those that do not present any of the characteristics previously described. If it is not specifically set by the law, this type of society can be run in the same way that an open tax-free or tax-shelter incorporated mutual fund. These relate to offshore mutual fund, offshore mutual fund Societies, Charitable Mutual funds, Unit Mutual funds, Friendly Societies, Credit Unions, Building Societies and LTD, INC, IBC, SA and GmbH and Provident Societies. The registrar issues a certificate of registration for each business name registered. Companies with limited liability provide a framework for investment in business. This is a question you need to ask during the start-up offshore mutual fund, and evolution of your mutual fund. Learn what you need to know about incorporating your small business.
A Companies Register that records basic details about every mutual fund helps build this confidence. All forms needed for manually registering a mutual fund, and for post-registration maintenance (such as address changes) are available online. There are a variety of reasons for getting offshore limited liability via registering as a mutual fund. It limits the liability of mutual fund, which usually equates to those on the management committee (who will also be the charity mutual fund if it is a charity). They are still liable for negligent conduct - lawyers will find some other exceptions but that is the main one. Employing staff, taking up a lease or owning property are common prompts to get limited liability. The free essential resource for starting up your own business. Apostille. Example of an apostille (Offshore, UK or USA). What is an apostille? An apostille is a special seal applied by an authority to certify Apostilled.
We specialize in the forming Offshore mutual fund, maintaining and utilization of Offshore mutual fund incorporation and Offshore mutual fund registration for people and businesses worldwide.
We register offshore mutual fund tax-free jurisdictions for UK, international clients & US, provide offshore registered agent and Offshore resident address services. Whether you want a full office with nominee officers or just resident agent service we are here to help you through every step that your offshore business Offshore may take. At Coddan we assist clients with the first step of incorporate Offshore Company, we can assist you establishing your Offshore Company with minimal effort and time. If you are involved in any activities dealing with customers or the public or in any service related industry, it may be in your best interest to incorporate off-shore mutual fund. In today's litigious society, you should do everything possible to protect your home, your personal finances, and your family from being subjected to having to satisfy a legal judgment. Incorporate low-tax jurisdiction offshore mutual fund online. Save money & time when forming low-tax mutual fund. An online resource for incorporating offshore mutual fund, LLCs and limited partnerships in offshore jurisdictions.
Offshore registered agent services also provided, Apostille and Offshore Nominee services. Offshore Small Business, Starting Small Business, Startup, Business Start-up Information, Business Portal, offshore Small Business Start-up Ideas. We provide our clients with full expert assistance throughout every step of the offshore mutual fund formation process, however our service does not stop there. We will give you any assistance or advice related to offshore mutual fund formation matters from the moment you choose to incorporate with us and for as long after offshore incorporation as you may require. Online incorporation and LLC services for businesses wanting to incorporate in the Offshore. An addition to our service is the continuous online support for all our clients via the Internet and Email. Clients may even register for their companies with us online, a quicker and more accurate procedure for launching your company. Incorporate in Offshore: Why offshore mutual funds are popular for business. Offshore incorporation service: incorporate your business in Offshore, incorporate a business, incorporation fees, and fees for incorporating online.
Incorporating in Offshore has another major benefit: affordable costs. For most cases you only need to pay the offshore incorporator mutual fund or individual, pay the rent for a registered agent and the yearly franchise tax. Being a tax heaven, your offshore mutual fund will pay income tax only for operations made within the state, making it ideal for off shores. Speaking of this, many international individuals and companies decide to incorporate in Offshore both for the tax benefits and for developing a serious and prestigious brand as an offshore company.
Forming Offshore Corporations Offshore has been a growing trend in recent years. When you incorporate in offshore, your business can enjoy a level of privacy not available in other countries. In addition, also offers a high level of liability protection, asset protection, and numerous tax benefits. Providers of incorporation, corporate accountancy and related services to help business form corporations, create an LLC, or register an S Corporations. Why incorporate mutual fund in tax haven? Tax Havens corp
orate statutes started with those of Offshore and then went even further, establishing a corporate structure that allows investors and owners of offshore corporations to remain completely private - an advantage that is unique throughout the world.
This is our most popular package with worldwide customers, and includes: -
The registration your offshore company from scratch using our registered agent & registered office address, and appoint your own candidates to the roles of director, and shareholder;
The standard capital on formation is US$50,000 divided into 50,000 shares valued at no par value or US$1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for Business Company name availability, confirmation, and reservation;
The preparation and submission of the memorandum and articles of association of your company;
A local registered office address and a local registered agent (both of which are statutory requirements in the British Virgin Islands) for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The formation of a limited company usually takes as little as two to five working days from the time that your application and payment are received by Coddan;
To receive an original of the certificate of Incorporation from the companies registrar usually takes as little as two to three days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
The original certificate of incorporation;
A bound copy of the memorandum and articles of association of your company;
The minutes of the first meeting of the board of directors;
A completed register of directors and shareholders;
Share certificates;
Company seal.
BVI Limited Partnership Establishment
£ 1,185
Annual Maintenance Fee £950.00
This is our most popular package with worldwide customers, and includes: -
The registration your offshore limited partnership from scratch using our registered agent & registered office address, and appoint your own candidates to the roles of a general and limited partners;
The government and initiation fees for incorporation are included in the price of this package;
The search for limited partnership name availability, confirmation, and reservation;
The preparation and submission of the partnership agreement of your partnership;
A local registered office address and a local registered agent (both of which are statutory requirements in the British Virgin Islands) for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The formation of a limited partnership usually takes as little as two to five working days from the time that your application and payment are received by Coddan;
To receive an original of the certificate of incorporation from the companies registrar usually takes as little as two to three days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore limited partnership: -
The original certificate of incorporation;
A bound copy of the partnership agreement of your limited partnership;
The minutes of the first meeting of the board of partners;
A completed register of partners;
Membership certificates;
Limited partnership seal.
Bahamas IBC Incorporation
£ 1250.00
Annual Maintenance Fee £400.00
This is our most popular package with worldwide customers, and includes: -
The registration your offshore international business company from scratch using our registered agent & registered office address, and appoint your own candidates to the roles of director, and two shareholder;
The standard capital on formation is US$50,000 divided into 50,000 shares valued at US$1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for international business company (IBC) name availability, confirmation, and reservation;
The preparation and submission of the memorandum and articles of association of your company;
A local registered office address and a local registered agent (both of which are statutory requirements in the Bahamas Islands) for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The formation of an international business company usually takes as little as fifteen to twenty working days from the time that your application and payment are received by Coddan;
To receive an original of the certificate of incorporation from the companies registrar usually takes as little as one to two days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
The original certificate of incorporation;
A bound copy of the memorandum and articles of association of your company;
The minutes of the first meeting of the board of directors;
A completed register of directors and shareholders;
Share certificates.
Belize IBC Registration
£ 450.00
Annual Maintenance Fee £270.00
This is our most popular package with worldwide customers, and includes: -
The registration your offshore Belizean company from scratch using our registered agent & registered office address, and appoint your own candidates to the roles of director, and shareholder;
The standard capital on formation is US$50,000 divided into 50,000 shares valued at no par value or US$1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for international business company (IBC) name availability, confirmation, and reservation;
The preparation and submission of the memorandum and articles of association of your company;
A local registered office address and a local registered agent (both of which are statutory requirements in Belize) for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The formation of a limited company usually takes as little as two to five working days from the time that your application and payment are received by Coddan;
To receive an original of the Certificate of Incorporation from the companies registrar usually takes as little as one to two days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
The original certificate of incorporation;
A bound copy of the memorandum and articles of association of your company;
The minutes of the first meeting of the board of directors;
A completed register of directors and shareholders;
Share certificates.
Gibraltar LTD Formations
£ 735.00
Annual Maintenance Fee £400.00
This is our most popular package with worldwide customers, and includes: -
The registration your offshore non-resident company in Gibraltar from scratch using our registered agent & registered office address, and appoint your own candidates to the roles of director, and shareholder;
The standard capital on formation is £2,000 divided into 2,000 shares valued at no par value or £1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for non-resident company name availability, confirmation, and reservation;
The preparation and submission of the memorandum and articles of association of your company;
A local registered office address and a local registered agent (both of which are statutory requirements in Gibraltar) for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The formation of a private non-resident company usually takes as little as five to eight working days from the time that your application and payment are received by Coddan;
To receive an original of the certificate of incorporation from the companies registrar usually takes as little as one to two days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
The original certificate of incorporation;
A bound copy of the memorandum and articles of association of your company;
The minutes of the first meeting of the board of directors;
A completed register of directors and shareholders;
Share certificates.
Cyprus LTD Creation
£ 1250.00
Annual Maintenance Fee £600.00
This is our most popular package with worldwide customers, and includes: -
The registration your private limited company in Cyprus from scratch using our registered agent & registered office address, and appoint your own candidates to the roles of director, secretary, and shareholder;
The standard capital on formation is €1,000 divided into 1,000 shares valued at no par value or €1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for limited company name availability, confirmation, and reservation, which usually takes as little as five to seven days;
The preparation and submission of the memorandum and articles of association of your company (in English & Greek languages);
A local registered office address in Nicossia (which is statutory requirement in Cyprus) for 12 months is included in the price of this package (our registered office address service is charged annually);
The formation of a private company limited by shares usually takes as little as fifteen to twenty days from the time that your application and payment are received by Coddan;
To receive an original of the certificate of incorporation from the companies registrar usually takes as little as one to two days from the time of incorporation.
The following hard bound copy legalised with an official apostille of corporate documents, will be posted to you upon formation of your company: -
The original xertificate of incorporation (both in English & Greek);
A bound copy of the memorandum and articles of association of your company (both in English & Greek);
The minutes of the first meeting of the board of directors (both in English & Greek);
A completed register of directors and shareholders (both in English & Greek);
Share certificates;
Company seal.
Nevis LLC Incorporations
£ 500.00
Annual Maintenance Fee £325.00
This is our most popular package with worldwide customers, and includes: -
The registration your offshore Nevis LLC from scratch using our registered agent & registered office address, and appoint your own candidates to the roles of members, and operating manager;
The standard capital on formation is US$10,000 divided into 10,000 units valued at no par value or US$1.00 each (it is not required to have all of the units issued, but a minimum of one unit must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for limited liability company (LLC) name availability, confirmation, and reservation;
The preparation and submission of the operating agreement of your company;
A local registered office address and a local registered agent (both of which are statutory requirements in Nevis) for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The formation of a limited liability company usually takes as little as two to five working days from the time that your application and payment are received by Coddan;
To receive an original of the certificate of incorporation from the companies registrar usually takes as little as one to two days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
The original certificate of incorporation;
A bound copy of the operating agreement of your company;
The minutes of the first meeting of the board of members;
A completed register of members;
Membership certificates.
Nevis NBCO Setting-Up
£ 500.00
Annual Maintenance Fee £325.00
This is our most popular package with worldwide customers, and includes: -
The registration your offshore Nevis business company from scratch using our registered agent & registered office address, and appoint your own candidates to the roles of director, and shareholder;
The standard capital on formation is US$10,000 divided into 10,000 shares valued at no par value or US$1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for Nevisian business company (NBCO) name availability, confirmation, and reservation;
The preparation and submission of the by-laws of your company (company's constitution);
A local registered office address and a local registered agent (both of which are statutory requirements in Nevis) for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The formation of a business company usually takes as little as two to five working days from the time that your application and payment are received by Coddan;
To receive an original of the certificate of incorporation from the companies registrar usually takes as little as one to two days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
The original certificate of incorporation;
A bound copy of the by-laws of your company;
The minutes of the first meeting of the board of directors;
A completed register of directors and shareholders;
Share certificates.
Seychelles IBC Registrations
£ 510.00
Annual Maintenance Fee £290.00
This is our most popular package with worldwide customers, and includes: -
The registration your offshore Seychelles company from scratch using our registered agent & registered office address, and appoint your own candidates to the roles of director, and shareholder;
The standard capital on formation is US$100,000 divided into 100,000 shares valued at no par value or US$1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for international business company (IBC) name availability, confirmation, and reservation;
The preparation and submission of the memorandum and articles of association of your company;
A local registered office address and a local registered agent (both of which are statutory requirements in Seychelles) for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The formation of an offshore company usually takes as little as two to five working days from the time that your application and payment are received by Coddan;
To receive an original of the certificate of incorporation from the companies registrar usually takes as little as one to two days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
The original certificate of incorporation;
A bound copy of the memorandum and articles of association of your company;
The minutes of the first meeting of the board of directors;
A completed register of directors and shareholders;
Share certificates.
St. Vincent IBC Creations
£ 650.00
Annual Maintenance Fee £450.00
This is our most popular package with worldwide customers, and includes: -
The registration your offshore Saint Vincent company from scratch using our registered agent & registered office address, and appoint your own candidates to the roles of director, and shareholder;
The standard capital on formation is US$50,000 divided into 50,000 shares valued at no par value or US$1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for international business company (IBC) name availability, confirmation, and reservation;
The preparation and submission of the memorandum and articles of association of your company;
A local registered office address and a local registered agent (both of which are statutory requirements in St. Vincent) for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The formation of a limited company usually takes as little as two to five working days from the time that your application and payment are received by Coddan;
To receive an original of the certificate of incorporation from the companies registrar usually takes as little as one to two days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
The original certificate of incorporation;
A bound copy of the memorandum and articles of association of your company;
The minutes of the first meeting of the board of directors;
A completed register of directors and shareholders;
Share certificates.
Hong Kong LTD Start-Up
£ 660.00
Annual Maintenance Fee £500.00
This is our most popular package with worldwide customers, and includes: -
The registration of your private company limited by shares from scratch using our own registered office address, our local nominee secretary, and appoint your own candidates to the roles of directors, and shareholder;
The standard capital on formation is HK$10,000, this is divided into 10,000 ordinary shares valued at HK$1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The formation of a private limited company usually takes as little as seven to ten business days from the time that your application and payment are received by Coddan;
The government fee for incorporation is included in the price of this package;
The provision of a registered office address in Hong Kong for 12 months is also included in the price of this package (our registered office address service is charged annually);
The provision of a nominee secretary for 12 months as well is included in the price of this package (our nominee secretary service is charged annually);
The following hard bound copy of corporate documents, will be posted to you upon formation of your company: -
An original of the certificate of incorporation of your company (in English & Chinese);
Six hard bound copies of the memorandum and articles of association (both in English & Chinese);
A hard bound copy of the minutes of the first meeting of directors (in English only);
Share certificates, and your company register of directors, secretary and shareholders (in English only);
One rubber stamp & one plier seal of your company are moreover included into the price of this package.
Panamanian Corporation Settings-Up
£ 650.00
Annual Maintenance Fee £370.00
This is our most popular package with international customers, and includes: -
The search for corporate name availability, confirmation, and reservation;
The payment of initiation fees and government fee for incorporation are included in the price of this package;
The provision of a registered agent and registered office address in Panama for 12 months are also included in the price of this package (our registered agent and provision of a registered office address service are charged annually);
The registration of your corporation from scratch using our own registered agent and registered office address, and appoint your own candidates to the role of directors and shareholders;
The preparation and filing of the by-laws (company's constitution) and articles of incorporation of your corporation;
The standard capital on formation is US$10,000, this is divided into 10,000 ordinary shares valued at US$1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued). Contributions may include any type of asset - cash, property, services rendered, or a promissory note or other obligation;
The formation of a corporation usually takes as little as three to five working days from the time that your application and payment are received by Coddan;
To receive a recorded copy of the articles of incorporation and by-laws usually takes as little as one to two days from the time of incorporation;
The following documents will be posted to you upon formation of your corporation: -
The original articles of incorporation (in English & Spanish);
A bound copy of the by-laws of your corporation (in English only);
The minutes of the first meeting of the board of directors (in English only);
A completed register of directors and shareholders (in English only);
Looking for a quality information & practical guidance regarding how to start your own offshore mutual fund, how to get your tax-free mutual fund set-up and running, how to select the best type of an offshore mutual foundation form; and need a mutual fund start-up advice? Need an offshore mutual fund formation agent with the prompt service and expert advice? Are you looking to setting-up a mutual fund in Anguilla, Belize, or BVI (British Virgin Islands)? Do you want to register your mutual fund in Cyprus, Gibraltar, Mauritius, Nevis, or Panama or Seychelles? Have an idea for a business and want to start a mutual fund now?
On our web-site, you can get information on choosing and registering the right legal offshore structure for your business, legal tips on day-to-day business operations, and much more. If you have an idea for mutual fund establishment offshore, we can assist you and provide a higher standard of support for starting-up a business and registering a mutual fund offshore online directly from the ground up. The better the mutual fund's structure is prepared upon registration, the better the results that will be achieved later. It is our job to assist in evaluating the options available at the beginning. In addition, we offer services regarding the formation of offshore companies and foundations. Register your new inexpensive offshore mutual fund with us, and enjoy the full support of an excellent and fully trained team.
Establish of a Mutual Fund: What We Can Do For You
Coddan is the firm with many years experience in assisting clients with business start-up in the UK (England, Wales, and Scotland), Ireland (Republic of Ireland and Northern Ireland), USA, and as well as with the formation of offshore companies, trusts and mutual funds, offering in most circumstances the online offshore funds incorporation. Our expert knowledge and extensive experience of setting-up of business and offshore mutual funds' structures has made us possible to provide the professional, prompt, and efficient service.
1. Minimum or zero tax on capital gains, incomes, profits and dividends that accrue to the fund. 2. While an offshore investment fund would typically operate in a tax-free environment and would therefore be able to grow faster, the individual investors should nevertheless remain aware of the fact that at the time when their investments are redeemed or when dividends are received from the offshore fund, such personal income may be subject to tax in their domicile country, at receipt. 3. Minimum or zero tax on fees, commission income and profits earned by the fund managers, advisors and administrators, registered and regulated in an offshore financial centre. 4. Greater operational flexibility, in terms of both the choice and structuring of the investment portfolio, and in relation to the internal structuring of the fund itself. 5. Offshore investment funds have access to the widest possible variety of investment instruments and may often pursue more aggressive investment strategies than if they were registered in a traditional jurisdiction. 6. The same relatively lower level of regulation allows for a faster and easier establishment process of an offshore investment fund. 7. Series of offshore investment funds designed under the same pattern and having the same recognized managers and administrators, may be created extremely quickly and with minimum cost. 8. It is also quite common for an offshore investment fund to outsource some or all of its support functions to outside providers, either in the same jurisdiction or abroad. 9. The fund administration, management, investment advisory and shareholder relations may be subcontracted to established service providers elsewhere. 10. The recognition process of such outside providers for the purposes of licensing of the particular offshore investment fund is usually quite straightforward.
Our team of consultants will be pleased to assist with your enquiries related to establishing and maintaining international mutual funds, tax-free limited liability companies and partnerships or creating complex offshore corporate legal structures. On our web-site, you will find a number of useful tips and information, downloadable documents, which may help you to learn what to take into consideration when deciding among mutual funds, offshore private limited liability companies, LLPs, limited partnerships and other structures.
We provide different packages with the different options depending on your business needs; each package offers the complete formation of an offshore mutual fund, which is usually ready to commence trading within couple of days. Our offshore incorporation packages offer the perfect results for those people who are taking the first step into the business or investors whose budget won't stretch to bespoke business solutions, there are no dumbfounds and no hidden charges, - what you see is what you pay! We can also assist clients with the special needs or requirements, we could make a tailor made package that would suit your personal needs and wants. If you choose us as your mutual fund and corporate service provider, you will almost immediately realise that our team of proficient advisors, is your own dedicated support team.
We are a mutual fund creation and business administration firm offers a comprehensive range of starting business solutions, corporate, legal, and tax advice. Since 1993, we have developed an excellent international reputation for providing the highest quality solutions and advice for our clients.
We provide exactly the same service as most other agents, but apart from the other corporate service providers, we are not a home-based family business with only online presence. Our main office building is located on 124 Baker Street, in the heart of the Central of London,just few minutes walk from the Marylebone Road. Nearest station: Baker Street.
In addition, although most of offshore professionals have conventionally worked on an hourly basis, our main target is selling the amount of high-grade products and first-rate services than high-cost time. Where the scope of the work can be adequately specified, we keenly encourage alternative fixed-fee arrangements, or an applicable percentage (as the simplest example: from the legally tax-reductions).
If you would like a personal face-to-face consultation and dedicated help with your offshore mutual fund start-up, call us on +44 (0) 207.935.5171, or 033 0808-0089 to discuss your requirements and make an appointment with one of our consultants. A consultant will contact you at a pre-arranged appointment time to discuss your individual circumstances, as well as your suggestions in relation to your offshore mutual fund incorporation needs. Our project begins with a short meeting, where our advisors gather the information required to register an offshore company for each client. The result includes personal assistance with the order form submission.
If you have questions about legal aspects of your mutual fund registration application, you should speak to one of our consultants. We are very happy to provide a practical support, we have a team of professional business advisers and consultants who can support you to strengthen and grow your business. We can help if you need a qualified advice and guidance in any of the following areas: -
How to select the best offshore mutual fund form;
How to start and register your mutual fund in offshore jurisdiction;
How to get your offshore mutual fund up and running;
Reasons to register a mutual fund, an international business company IBC), a non-profit company, a limited liability partnership (LLP) or limited liability company (LLC);
How to establish a subsidiary company or a branch in offshore locations, i.e. Saint Vincent and Grenadines, Mauritius, Isle of Man IOM, etc.;
How to manage your already established offshore mutual fund in Belize, BVI, Cyprus, Guernsey, Jersey, Seychelles, etc.;
How to fulfil the legal requirements and avoid penalties and common mistakes, etc.
You will not be left on your own once you have started up a mutual fund, we still are here to help you with any problems that you may face as you establish and grow your offshore mutual fund. Our advisers will answer any questions you may have and explain what you, or we, might do in your current circumstances. If necessary, you may return to us for further help as matters progress. Our team of full-time professional business advisers can guide you through the essential steps to launching your offshore mutual fund. Please, take a note that we can have meetings with current of positional customers by appointment only.
If you do not need to get an advice or guidance how to register offshore mutual fund, you may simply place an order online with automatic e-mail confirmation, status updates, and e-mail notifications of filing status changes. Areas of our practice: -
Determination of the best offshore mutual fund structure for tax purposes;
Formation of mutual funds and companies (we can advise upon and assist with establishing of a constructive mutual fund, express mutual fund, fixed mutual fund, hybrid mutual fund, implied mutual fund, incentive mutual fund, living mutual fund, irrevocable mutual fund, private and public mutual funds, and protective mutual fund, bare mutual funds, interest in possession mutual funds, discretionary mutual funds, accumulation and maintenance mutual funds, mixed mutual funds and settlor interested mutual funds, etc.);
Assistance with the opening offshore banking accounts, we are working closely with many offshore banks, such as FirstCaribbean International Bank, Scotiabank, HSBC, Lloyds, Barclays, Abbey, and Halifax;
We can also help with opening UK business bank accounts for your offshore mutual fund or any other offshore business entity;
Provision of the offshore registered office addresses and registered agent services;
Provision of the nominee directors and secretary;
Registering and licensing copyrights, trademarks, design rights and patents;
Offshore mutual funds' management;
Bookkeeping and preparation of management accounts;
Preparation and filling of statutory accounts.
Our Experience in Offshore Mutual Fund Establishment
We can guarantee accurate, confidential, personalised, and reliable services at highly competitive prices; we are a customer-oriented company, we value our consumers and offer comprehensive services to every one of them. We are fully aware of our client's needs and desires and try to make the process of our teamwork as comfortable as possible.
We can register and establish of an offshore mutual fund within few days, we may help you with the opening of the corporate bank account operated by the UK or offshore banks. This is exactly what you will get if you choose to incorporate with Coddan. We are the real company, not a dot.co.uk or a bargain-basement internet company, our knowledgebase and practical with thousands of registered companies, offshore mutual funds, foundations, and partnerships has shown us that many new business owners want the fastest and easiest route to get their new business started.
As you endeavour to manage the growth and overall success of your offshore mutual fund, you will want to have a team of adviser with the focus on providing advice from start-ups to mature business issues to clients throughout the region. Coddan provides clients with continuing business advisory services and has specialists who understand the pressures facing businesses. Experienced business consultants ensure clients get practical and adventitious advice.
Coddan' team supplies a wide variety of hands on business help that is personalised to your requirements and extremely useful. Our services are earmarked to meet the needs of business entrepreneurs, with a solid reputation in delivering bespoke solutions to small and medium-size businesses there is no better team of advisers to have on your side.
Our organisation specialises in the intricate field of offshore private mutual fund's registration, incorporation of an offshore business structures and their management in eighteen low-tax or zero-tax countries. Furthermore, our consultants are competent to advice how to select the best type of mutual fund for setting-up, and register your offshore general trading, shipping or holding company. We may assist to register a property management, intellectual property management, or other assets management mutual funds. Our local lawyers and accountants are the best in their field, carefully selected for their professional ability, reliability, and integrity. Therefore, there is no need for you to spend hour after hour mastering the main regulating law, scaling bulk of paperwork or trying to recruit people that you can mutual fund - we have already done that for you!
Coddan is a professional company which has been servicing the UK and international community with a diverse range of top quality of offshore corporate and mutual funds structures incorporation and management services for many years. We incorporate companies, partnerships, joint-venture entities, and offshore foundations. We provide the first-rate business support services (corporate and private offshore bank accounts, business and tax planning, reviewing and updating mutual fund' constitutional documents, preparation minutes of meetings and directors or/and shareholders resolutions, etc.).
We do not hide any fees from our consumers, because price transparency is essential to us. Our service' fees and offshore mutual funds filings fees are provided to our customers upfront. Our online filing makes the ordering and incorporating processes easy and convenient, Coddan is an industry leader in online offshore mutual fund incorporation and documents processing. With our passion for service and client success, we strive to make Coddan the preferred choice of the offshore mutual fund start-up and new business offshore formation facilities market. We are able to offer a full range of mutual funds registration services to business starters or existent business owners; we can undertake most types of corporate management related work.
Why Incorporate Offshore?
Simpler business administration - depending on the offshore jurisdiction and the type of business activity to be conducted under the company name to be registered, the operating restrictions, accounting requirements and standards to which the business and its directors must adhere are often far less restrictive offshore than onshore. Tax saving - the reduction in taxation liability is one of the main benefits associated with investing offshore, opening an offshore bank account or incorporating a company offshore. Asset protection - by operating a business company offshore, i.e., outside the jurisdiction in which the company operates, it is sometimes possible to position assets away from the reach of any potential litigious action and also to shield business transactions from the eyes’ of the competition. Properly devised, an offshore strategy can offer many advantages. You can legally decrease your tax burden, protect your assets, enjoy a high level of anonymity, and provide your company with a competitive advantage. The exact benefits available to you and your company will depend greatly on nationality, location, entity type, and a host of other factors; it is for this reason that it is recommended that you seek professional advice before registering your company.
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Call us and speak with one of our knowledgeable advisor. There is no cost or obligation, let us help you to start a new offshore mutual fund. We will be pleased to discuss your plans, requirements and suggestions, and to help you understand how the incorporation process works.
Professionals answer our phone lines during business hours, not by an answering machine. We appreciate the value of your time and understand that the real person cannot be replaced by a contemporary technology. This is especially true when it comes to make an important business decision and where interaction and multiple views are essential. When you call to request an appointment with our advisors, the receptionist will ask you series of questions to qualify the appointment. We are continually enhancing our services to better assist our clients and meet their needs.
Guide Regarding Initial Consultations
Please take the note, that the initial or further consultation fee for incorporation of an offshore company is not included in the price of our offshore companies formation packages. Coddan is happy to help you find answers to any general question you may have regarding the offshore companies formation. We ask that you send your initial inquiries via e-mail if you have a specific question. However, generally, a large volume of e-mail's or phone calls does impede us from completing work for our existing clients.
You will generally get the most value from our communications if, before e-mailing or calling, you review the information on our website carefully towards answering your question(s). Many of your basic questions can be efficiently answered by searching our website using the search on the left toolbar, and by the LiveChat. After getting your basic questions answered through our website, you will have enough time to ask us more detailed questions, possibly more relevant to your unique situation.
Coddan promptly responds to e-mails regarding the firm's current lead-time and ability to accept new clients. Although we make every attempt to provide free information online to answer all your questions about most common situations, you may have more detailed questions.
Due to our high-volume practice, before contacting us by phone, it is less burdensome on our workload if you e-mail us your question(s). Generally, we will respond to your e-mail questions in a timely manner; however at times, our heavy caseload may delay our response time somewhat. The vast majority of the time, the combination of our free online information and e-mail response will efficiently answer your questions. If the combination of our online resources and e-mail or LiveChat interaction are not efficient towards answering your questions and/or resolving any concerns, and if the cost of the services you are interested will be at least £125.00, then we will setup a time that a Coddan offshore business practitioner will be available for a meeting to quickly resolve your general questions.
If this informational call is less than 10 minutes long, then there is no charge for our time. Thereafter, if your questions have not been resolved, then you may want to arrange an initial consultation with a Coddan offshore business practitioner who can evaluate your unique situation in more detail.
The cost of our initial consultation depends on the category of service you seek. Our services can be grouped into are two general categories, each having its respective consultation costs as follows: -
Flat-fee services under £2,000 - £125.00 per hour.
Services over £2,000 - £100.00 per hour.
Once we understand the nature of your project and your needs, we will be glad to give you a fixed fee proposal. If a written report is required, there is an additional fee of £125.00 to £250.00. Request a private consultation now:Click here to apply for a consultation (please use the form if you are serious about choosing an incorporation plan and being enrolled)
Fast Offshore Mutual Funds Formation: Our Services & Packages' Fees
Our clients from around the world, who have actually done their research about mutual funds' incorporation and business start-up; require different levels of assistance and formation solutions from us, Coddan offers unique registration packages tailored to our customers needs. Ranging from the Economy formation package, which is perfect for those who simply want a fast offshore mutual fund creation and establishment and are confident enough to do the rest on their own, to the Deluxe business start up package, which includes a host of additional features designed to organise all the administrative formalities and leave you free to concentrate on your core offshore business.
Myth and Reality About Offshore Mutual Fund
Offshore jurisdictions are often associated with large corporations and millionaires, but are in fact extremely well suited for small and medium businesses and individuals. An offshore mutual fund is formed in a foreign location and is therefore subject to the laws and regulations (or jurisdiction) of that location. The myth that offshore locations are completely unregulated and lawless is untrue; an offshore business is a normal business operating in a normal way; and is subject to many of the same types of laws and regulations as in any other location.
Coddan offers a comprehensive range of offshore mutual funds establishment solutions and a wide range of offshore post-registration services designed to support the efficient running of your business.
Properly devised, an offshore strategy can offer many advantages. You can legally decrease your tax burden, protect your assets, enjoy a high level of anonymity, and provide your company with a competitive advantage. The exact benefits available to you and your mutual fund will depend greatly on nationality, location, entity type, and a host of other factors; it is for this reason that it is recommended that you seek professional advice before registering your mutual fund.
The most widely promoted advantage of forming an offshore entity is the minimisation of one's tax burden. Although tax relief is an attractive advantage, there are many reasons why businesses and individuals choose to form an entity offshore: -
Anonymity
There are often sound, legitimate business reasons for an individual wishing to retain a level of anonymity. By carrying out transactions in the name of a private offshore foundation, the personal details of individuals can be kept off public records. Unfortunately, the anonymity offered by offshore mutual fund structures has also attracted people wishing to conduct illegitimate business. It is for this reason that the offshore industry has become more regulated than it was in the past. These new regulations often require banks and other institutions to examine company structures more closely. These new regulations do not pose a problem for those individuals acting legitimately, and do not hinder public anonymity.
Taxation
Using an offshore mutual fund and an appropriate business structure, it is possible for a business to legally and significantly decrease its tax liability and thus increase its profits.
Simplicity
Except for a few heavily regulated industries (the banking and investment industries for example) many offshore jurisdictions make it relatively simple to set up and run a mutual fund.
Asset Protection
Operating within an appropriate mutual fund structure, it is possible to organise assets and transactions in such a way that they are protected from future liability. Moving assets offshore can be a wise commercial decision. This is also an important option for individuals, who can protect their personal or retirement savings from litigation.
What are Offshore Mutual Funds?
Offshore mutual funds are funds that are based offshore, out of the jurisdiction of the United Kingdom, EU and United States. There are several reasons to invest in these funds, one of which is the fact that these funds have tax-saving advantages. A mutual fund is a community pile of investment money which comes from a number of investors. All the investors want to have their funds invested following certain guidelines, sometimes it may be a certain type of stock or a class of asset.
When you invest into a mutual fund, you are basically pooling your money with the money from many other investors. By pooling the money together, you get shares in a portfolio that is worth many times your own investment. In addition, the mutual fund is managed by a professional money manager, who has the experience and knowledge needed to make the most of your investment. The money manager will decide which bonds, stocks, and other investments to put the funds into for the best outcome for the entire group.
A mutual fund is a professionally managed type of collective investment scheme that pools money from many investors and invests it in stocks, bonds, short-term money market instruments, and/or other securities. The mutual fund will have a fund manager that trades the pooled money on a regular basis.
Mutual funds can invest in many kinds of securities. The most common are cash instruments, stock, and bonds, but there are hundreds of sub-categories. Stock funds, for instance, can invest primarily in the shares of a particular industry, such as technology or utilities.
These are known as sector funds. Bond funds can vary according to risk (e.g., high-yield junk bonds or investment-grade corporate bonds), type of issuers (e.g., government agencies, corporations, or municipalities), or maturity of the bonds (short- or long-term). Both stock and bond funds can invest in primarily U.S. securities (domestic funds), both U.S. and foreign securities (global funds), or primarily foreign securities (international funds).
Most mutual funds' investment portfolios are continually adjusted under the supervision of a professional manager, who forecasts cash flows into and out of the fund by investors, as well as the future performance of investments appropriate for the fund and chooses those which he or she believes will most closely match the fund's stated investment objective.
A mutual fund is administered under an advisory contract with a management company, which may hire or fire fund managers.
Mutual funds are subject to a special set of regulatory, accounting, and tax rules. In the U.S., unlike most other types of business entities, they are not taxed on their income as long as they distribute 90% of it to their shareholders and the funds meet certain diversification requirements in the Internal Revenue Code. Also, the type of income they earn is often unchanged as it passes through to the shareholders. Mutual fund distributions of tax-free municipal bond income are tax-free to the shareholder. Taxable distributions can be either ordinary income or capital gains, depending on how the fund earned those distributions. Net losses are not distributed or passed through to fund investors.
Offshore mutual funds are normally located in the countries where there is no tax liability if you do not live in the country. These countries include the Bahamas, Belize, BVI, the Isle of Man, the Cayman Islands, Mauritius, Seychelles, and many more.
This jurisdiction sallow interest earned on mutual funds to be tax exempt, just like bank accounts in these countries. This does not mean that as a British or an American citizen you do not have to pay tax, just that the country does not charge tax. You still have a responsibility to report all interest earned to the Inland Revenue/IRS, otherwise you will find yourself in trouble over taxes.
In recent years, many investors and businessmen have found themselves in this situation, simply because they believed these funds were tax sheltered, and did not pay taxes on the interest. If you invest in offshore mutual funds, make sure you know what your tax liability is. This is your responsibility, since you will be the one facing tax evasion or other criminal charges if you do not follow the law.
Offshore mutual funds are a way to invest your money for maximum growth and return. These funds are not without some risk, however, and it is possible to lose on your investment. Offshore mutual funds have the advantage of being professionally managed, so that the investment portfolio for the fund is well diversified to minimize any risks to the investment capital of the fund. These funds offer many benefits, and they are a favorite for many investors because of the tax advantages and the return potential. If you wish to retain Coddan in a professional capacity, you can apply for an initial consultation appointment by following the link below. Book an initial consultation:use this form to request an initial consultation with one of our specialists (please use the form if you are serious about choosing an offshore mutual fund incorporation plan and being enrolled)
Popular Locations for Offshore Mutual Funds
The location of your mutual fund formation can be as important as the type of company you choose to form. Different offshore jurisdictions tend to specialise in different types of offshore mutual funds, and some offshore centres actively target certain types of business by offering attractive incentives. Coddan can register a mutual fund for you in many different locations, including: -
Mutual funds require ongoing maintenance and must meet certain local reporting and statutory requirements, although these are generally less rigorous for offshore mutual funds, they still exist. There are additional difficulties for those who do not have a relationship with an offshore jurisdiction and are uninitiated to the law and practicalities of an offshore location.
In addition to providing offshore mutual fund formations online, Coddan offers a host of services designed to support your business offshore. This comprehensive list of services includes: -
Choosing an Offshore Jurisdiction and Offshore Mutual Fund Structure
There are many variables which need to be considered in order to choose the best offshore solution. Broadly speaking, there are two obvious variables: location and the type of a mutual fund. These variables are, however, more interconnected than one might first suppose. Each offshore mutual fund' location has its own law which regulates both the type of business entities which may be formed within the jurisdiction, and the specific structure and commitments of such entities.
In order to make the best choice, you must first clearly define the type of offshore business you conduct now, and may wish to conduct in the future, and your objectives for going offshore: different offshore structures work better for certain types of offshore mutual funds than others and the best structure and jurisdiction is contingent upon what you hope to achieve.
The eventual value of having an offshore mutual fund will depend on the overall structure, and on the particular country or countries in which the owner resides. To optimise your results, it is generally preferable for the offshore mutual fund to not be a controlled subsidiary of the main company; and it will normally be even better if the main administrators are not resident in the same country as the main company.
The offshore geographical location is also important. It may, in certain situations, be more important than the type of business entity you form. By forming an offshore mutual fund entity you will also be forming a relationship with a place; sometime you may be required to visit there to open a bank account, and to conduct meetings. It is therefore important to consider whether it will be expensive to travel there, whether you would enjoy visiting or vacationing there, whether you will be able to communicate with the local community, whether there is sufficient infrastructure present to support your operation.
Benefits of an Offshore Foundation
For an investment professional, a mutual fund is a vehicle that enables more efficient use of existing research and investment expertise and resources. As an additional product to market to one's client base, the properly structured offshore fund offers a number of features that distinguish it from a traditional mutual fund: -
A lower level of regulation makes it easier to establish and administer the funds. Consequently, formation and operating costs are significantly reduced. Lower costs means funds can be offered at zero or low load and with competitive management fees from the investor's point of view. Furthermore, greater flexibility is generally available, in terms of both fund structure and the investment portfolio.
Tax exempt status in the offshore jurisdiction enables the fund to reinvest the approximately 30% taxes on profits and gains that would otherwise be payable in high tax jurisdictions, without the need to obtain investment company or similar status. Therefore, taxes may be deferred until the investor receives a return on his investment. (Tax advice should be sought in the jurisdictions of the sponsor/manager and each investor to determine any potential tax liability.)
No big back office operation is required, since all administration, execution and shareholder relations can be subcontracted out. Further, by having clients invest in a fund in which they buy and hold shares rather than, for example, a discretionary managed account, all of the contract notes, advices, statements and other client transaction paperwork may be dispensed with. Investors simply receive a monthly or quarterly NAV certificate and annual or semi-annual financial statement.
All of these features contribute to make an offshore fund a viable and attractive proposition for investment professionals in every field and of all sizes. The cost efficiency of offshore funds also means that a series of funds, custom designed for different client needs or profiles, may be easily created.
Management Fees
The management fee for the fund is usually synonymous with the contractual investment advisory fee charged for the management of a fund's investments. However, as many fund companies include administrative fees in the advisory fee component, when attempting to compare the total management expenses of different funds, it is helpful to define management fee as equal to the contractual advisory fee + the contractual administrator fee. This "levels the playing field" when comparing management fee components across multiple funds.
Contractual advisory fees may be structured as "flat-rate" fees, i.e., a single fee charged to the fund, regardless of the asset size of the fund. However, many funds have contractual fees which include breakpoints, so that as the value of a fund's assets increases, the advisory fee paid decreases. Another way in which the advisory fees remain competitive is by structuring the fee so that it is based on the value of all of the assets of a group or a complex of funds rather than those of a single fund.
Non-Management Expenses
Apart from the management fee, there are certain non-management expenses which most funds must pay. Some of the more significant (in terms of amount) non-management expenses are: transfer agent expenses (this is usually the person you get on the other end of the phone line when you want to purchase/sell shares of a fund), custodian expense (the fund's assets are kept in custody by a bank which charges a custody fee), legal/audit expense, fund accounting expense, registration expense (the SEC charges a registration fee when funds file registration statements with it), board of directors/trustees expense (the disinterested members of the board who oversee the fund are usually paid a fee for their time spent at meetings), and printing and postage expense (incurred when printing and delivering shareholder reports).
Mutual funds offer several advantages over investing in individual stocks. For example, the transaction costs are divided among all the mutual fund shareholders, which allows for cost-effective diversification. Investors may also benefit by having a third party (professional fund managers) apply expertise and dedicate time to manage and research investment options, although there is dispute over whether professional fund managers can, on average, outperform simple index funds that mimic public indexes.
Structure of Offshore Mutual Funds
The four principal elements that govern the structure of mutual funds include: -
1. The nature of the underlying investments in which the mutual fund intends to specialize;
2. The way in which the fund intends to market its shares;
3. The way in which investors earn their returns and realize their investments;
4. The way in which the fund's manager and other professionals earn their fees.
Each of these issues is briefly considered below.
The Underlying Investments
Although most funds permit themselves the full range of investments, they generally specialize in a particular area, such as equities, bonds, currencies, or particular geographical areas or market sectors. Some funds may be hedge funds that rely to a greater or lesser extent upon the use of derivative instruments (i.e., options, futures and swaps based upon the underlying principal investment). In addition, some funds may rely heavily on the use of leverage or trade upon margin in order to boost returns. The latter are obviously the highest risk funds, in particular where these are also based upon derivatives.
Where the intended investments are relatively liquid, the typical fund will be an "open-ended" fund, in which investors can subscribe and redeem their shares for cash on a regular basis. If the intended asset classes are illiquid investments, such as real estate developments or film finance, then a "closed-end" fund may be more appropriate. With this type of fund, subscriptions are limited by reference to the number of shares or a specified offer period. Investors only receive a return of capital after a specified period or when management so decides, in both cases after the fund has liquidated its investment.
A fund may intend to invest in a variety of asset classes and to offer investors a choice of portfolio mix, with the option to switch between asset classes at minimal cost. A common structure is the "fund of funds" or "umbrella fund". Such funds work in one of two ways. The fund itself may establish a number of sub-funds in which investors can spread their investments. Sub funds may be for, e.g., equities, bonds or different currencies. Alternatively, the fund may offer a menu of third party funds from which investors can choose.
This may give investors access on a pooled basis to funds to which they would have no access individually. A similar result can be achieved by creating a single fund with different share classes each representing a different type of investment (e.g. dollar, sterling and deutschmark denominated shares for investment in each currency). A significant investor advantage that the larger of the umbrella (or 'family') funds offer is the relatively easy and inexpensive switching facilities offered by such structures. For a nominal fee investors may change the structure of their fund portfolio between sub-funds within the umbrella.
This allows the investor to cheaply and easily move to different markets or risk profiles, depending on their preferences. This switching feature can be a useful marketing tool and can potentially be a real investment advantage to the private investor. A master-feeder fund is a fund used to attract a specific interest group for onward investment into a central master fund. You may also create a multi-manager fund, that is, a fund vehicle which selects different managers to invest a portion or portfolio of the funds assets. Normally, there is one investment adviser or manager which has contracted with the fund and is charged with the responsibility to allocate the fund assets between selected managers after studying their recent investment performance and techniques.
Side by side fund is normally an onshore and offshore fund utilizing the same investment strategy, but each fund is attractive or restricted to a different category or class of person. For example a promoter or fund manager may wish to start up an offshore fund, following the success of its onshore fund, utilizing precisely the same investment strategy, but the offshore fund may be limited to non-United States persons, owing to regulatory and or taxation issues which would otherwise arise.
It is generally thought that hedge funds, which employ sophisticated investment techniques, (often with varying degrees of leverage) constitute over fifty percent of the collective investment vehicles formed in the BVI. Other vehicles have been created with a view to investing in money market investments, interest bearing bonds or securities and stocks or shares. These vehicles are commonly referred to respectively as "Money Market Funds", "Bond Funds" and "Equity Funds".
Method of Marketing Shares
Mutual fund structure is also affected by where and to whom the funds are offered. For example, will the fund be offered to the general public or only to "sophisticated professional investors"?
Normally, sophisticated professional investors are individuals with a net worth of at least one million dollars or institutions, including other funds. In addition, is the fund marketing purely directed to the sponsor/manager's existing client base or discretionary managed accounts, or is it also directly or indirectly going out to other investors? Each of these will affect the various regulatory implications that need to be considered. At the end of the day, while there are some BVI regulatory requirements to be considered, regulations in the jurisdiction of the principal target markets will have the most bearing.
Investor Returns
The typical fund is an open-ended fund that issues redeemable shares and is intended to achieve capital growth. There are no restrictions on the number of shares that such funds can issue and there is a potential flow of subscriptions and redemptions, as investors make and redeem their investments. After a fixed initial period (no more than two or three months) during which the shares are offered at a fixed price, all subscriptions and redemptions are at the net asset value. Being a growth fund, dividends are typically not paid.
The frequency of redemption is governed by the liquidity of the underlying investment (i.e., how long the fund needs to realize cash to meet a redemption demand) and by the frequency of valuations. A fund can only redeem shares based on a formal net asset valuation, so as to ensure proper pricing. Typically, redemption takes place on the last day of each month, following a net asset valuation as at that date. With more liquid investments and if the fund is prepared to bear the administrative costs, valuations can be weekly or even daily. The typical large institutional funds in the U.S. have daily valuations.
A closed-end fund may pay dividends after an initial period but will only return capital on an irregular basis after the underlying asset is sold. Consider, for example, a real estate investment. While the development is being constructed, there is no return to the investor. Once built, an income stream will develop from rent received from tenants. After a period, the building may be sold realising a capital gain.
Key Parties, their Fees and Expenses
Sponsor, management and administration functions and their remuneration typically follow the following patterns: -
The sponsor is the creator of the fund and will typically hold a number of voting shares (perhaps 100) in the fund, but these are not entitled to any distributions or share in the equity. All of the equity belongs to the investors, typically in the form of non-voting "preferred redeemable shares". The voting shares generally control management of the fund, apart from limited major decisions.
The investment manager is a person, not being an officer or an employee of a mutual fund which has delegated management functions to a person licensed under the Act, who: -
For valuable consideration provides a mutual fund with management services either alone or together with investment advice; or
Is entitled to provide mutual funds with such services and facilities as provided in above under the laws of a recognised jurisdiction.
The manager determines the investment strategy of the fund and makes the investment decisions. The manager earns fees in the range of 1 to 2% of the NAV per annum, calculated and paid on a regular basis. Typically, these exclude any brokerage commissions and trading expenses which are additional expenses of the fund. In addition, many managers take an incentive or participation fee, based upon any increase in the net asset value.
These may range from 6% to 50% of the profit or gain. Usually, there is some adjustment provision such that if the NAV goes down, the manager does not get any further fees until the NAV exceeds the previous high. Some investment managers take a percentage of each subscription as a commission, often up to 5%. This may be added to the investment or deducted from the net proceeds. Typically the fee is taken where the manager has to pay commission to other intermediaries.
To maintain a distance between the promoter, who may also act as the investment advisor, and the fund itself, an investment management company is often set up. For example, the promoter may hold the voting shares of the mutual fund company through a wholly owned management company, thereby retaining control of the fund.
This investment management company can be an International Business Company (IBC), and any management fees paid to it from the fund may be accumulated tax-free in the BVI, Belize, Cyprus, Seychelles, etc..
The Fund Administrator
An administrator is a person who: for valuable consideration provides administrative services and facilities to a mutual fund; or is entitled to provide mutual funds with such services and facilities as provided in (a) above, under the laws of a recognised jurisdiction.
The functions of the fund administrator may vary but typically include: -
The provision of the registrar and transfer agent for the investors' shares (which includes maintaining the fund's share register and processing the issue and redemption of shares);
Publishing the fund's net asset value (NAV) in accordance with the terms outlined in the prospectus or offering memorandum;
In some cases the preparation of the fund's annual financial statements and liaison with the auditors;
Dealing with general shareholder inquiries, etc.
Depending on the complexity of the fund, the administrator's fees could be as little as a few thousand dollars a year or as much as 0.5 to 0.65 % of the NAV per annum. Sometimes the administrator's fees are included within the management fee. In certain situations, the administrator subcontracts a part of the work, particularly the NAV certification, to the investment manager. The Act requires any person who provides fund administration or fund management services "in, or from within, the offshore jurisdiction to be licensed under the Act. This section does not apply however, to persons who are not ordinarily resident or domiciled within the offshore jurisdiction, are licensed as a manager or administrator of mutual funds under the laws of a recognised jurisdiction, and have received written permission to carry on business as a fund administrator or fund manager.
The primary function of the custodian, which is usually an established bank, is to safeguard the fund's assets (i.e. the investment portfolio). The custodian bank executes securities transactions on the instructions of the investment manager, collects income and dividends on behalf of the fund, and provides the portfolio statements and schedule of investments to the administrator to calculate the fund's net asset value (NAV).
In some cases and depending on the fund's objective, the custodian bank function may be split between various parties. Commonly, part of the fund's assets is held by one or more brokers who execute trades on behalf of the fund. Custodial Fees can also be a fixed fee or a percentage of NAV. Where a broker acts as de facto custodian, it usually charges on a transactional basis. In addition, the fund will also be responsible for all of its own legal, accounting and other administrative expenses, excluding overhead expenses of the manager, administrator, etc.
The Auditor
Annual accounts need to be prepared, and public funds need to be audited by a licensed offshore auditor (or recognized outside the offshore). There are also a number of smaller international accounting firms with a presence in the offshore jurisdiction. Although there is no legal requirement to appoint an auditor for private or professional mutual funds, it is recommended that one be appointed.
Registration of Mutual Funds in Belize
Belize has one of the most attractive offshore mutual fund laws in the world. The general benefits of establishing a mutual fund in an offshore financial centre like Belize are: -
Minimum or zero tax on capital gains, incomes, profits and dividends that accrue to the fund. This would usually allow the fund to outperform its competitors domiciled in high-tax jurisdictions, if only by the reason that the funds, which would otherwise be paid as tax, can in the case of an offshore mutual fund be reinvested in the assets held by the fund. While an offshore investment fund would typically operate in a tax-free environment and would therefore be able to grow faster, the individual investors should nevertheless be aware that at the time when their investments are redeemed or when dividends are received from the offshore investment fund, such personal income may be subject to tax in their domicile country, at time of receipt. To this extent, qualified tax advice should be sought by the investor.
Minimum or zero tax on fees, commissions and profits earned by the fund managers, advisors and administrators, registered and regulated in an offshore financial centre. Again, this may provide a competitive advantage to the investment services professionals, for instance, by giving them an opportunity to charge lesser fees and commissions than their competitors, located in high-tax jurisdictions. Greater operational flexibility, in terms of both the choice and structuring of the investment portfolio, and in relation to the internal structuring of the fund itself. This largely owes to the fact that less formal regulation is generally allowed by mutual fund legislation in tax haven (offshore) jurisdictions, as compared to creation of mutual investment vehicles in most high-tax countries. Offshore investment funds have access to the widest variety of investment instruments and may often pursue more aggressive investment strategies than if they were registered in a traditional jurisdiction.
The relatively lower level of regulation also allows for a faster and easier establishment process of an offshore investment fund. Running and administration costs are typically lower, too. Series of offshore investment funds designed under the same pattern and having the same recognized managers and administrators, may be created extremely quickly and with minimum cost, thanks to a modern legislation. Therefore, an offshore investment fund may be offered to potential investors at more attractive terms. It is also common for an offshore investment fund to outsource some or all of its support functions to outside providers, either in the same jurisdiction or abroad. The fund administration, management, investment advisory and investor-relations functions may be subcontracted to reputable service providers elsewhere. The recognition process of such outside providers during the process of establishment of an offshore investment fund is specifically straightforward. Again, such flexibility ensures a more efficient and profitable running of the fund.
The particular advantages of the Belize as a domicile for offshore mutual funds are: -
Belize is a reputable, well-regulated jurisdiction with competent and efficient financial services supervisory authorities. The Belize Mutual Funds Act 2000 is a modern and comprehensive piece of legislation. Belize has an outstanding political and social stability, a complete legal predictability and a robust economy, featuring modern telecommunications, relatively low cost of qualified workforce and a culture of professional work ethics in the financial services industry.
No exchange controls or restrictions on financial transfers apply to Belize-registered offshore mutual funds. All Belize-registered offshore mutual funds, and any investors in such fund are in all respects exempt from any and all of the provisions of the Belize Income and Business Tax Act, the Belize Stamp Duties Act and the Belize Exchange Control Regulation Act. In essence, Belize mutual funds and investors into such funds are not subject to any tax in Belize.
Recognition under the Belize Mutual Funds Act can be obtained for funds already registered in another jurisdiction, as well as for fund managers, administrators and other professionals operating from another jurisdiction. There are no minimum capital requirements for a Belize mutual fund, neither there are any restrictions as to the type, denomination, number, classes and designation of rights of shares that can be created. Multiple classes of shares may be issued to distinguish between different classes of assets, investors or even currencies. The authorized share capital would typically consist of common voting shares and non-voting preference shares, however different and more complicated layouts are certainly possible. Shares can be denominated in any currency, or in multiple currencies.
There are no statutory limitations as regards the investment policies, investment instruments and borrowing powers of a Belize mutual fund, as such conditions are only prescribed by internal documents (memorandum and articles of association, prospectus, placement memorandum, offering circular, etc) of the fund itself, which are determined by the promoters and managers of the fund. In terms of the establishment and running of an offshore investment fund, Belize provides far superior cost-efficiency and value for money than it`s principal competitors.
The regulation of the offshore financial sector is carried out by the Belize International Financial Services Commission under a well-designed and modern suite of laws, enabling an adequate protection of investors` interests and the support of jurisdictions` good reputation. Both the formal letter of the law and the actual regulatory practices are designed to ensure that only fit and proper persons are involved in mutual fund operations in the Belize. The Belize Mutual Funds Act 2000, which is the primary source of mutual funds legislation in the jurisdiction, together with sub-regulations issued by the International Financial Services Commission, provides for a modern and attractive legal basis for establishment of offshore mutual funds in Belize. The review of the particular features and benefits of this legislation is provided further in this chapter.
Benefits Of Belize Mutual Funds
The Belize Mutual Funds Act 2000 sets forth the regulatory environment for operation of mutual funds in Belize. There are also several additional Regulations on the subject of mutual funds regulation, and a range of Policy Guidelines issued by the Belize Registrar of Mutual Funds (being part of the International Financial Services Commission) and dealing with the finer points of the practical application of the Mutual Funds Act.
The Belize Mutual Funds Act deals primarily with three main areas - registration of public funds, recognition of private and professional funds, and the licensing of fund managers and administrators. The Belize Mutual Funds Act defines a mutual fund as company incorporated, a partnership formed, a unit trust organised or other similar body formed or organised under the laws of Belize or that of any other country or jurisdiction which: -
1. Collects and pools funds for the purpose of collective investment; and
2. Issues shares (as herein defined) that entitle the holder to receive on demand or within a specified period after demand an amount computed by reference to the value of a proportionate interest in the whole or in a part of the net assets of the company, the partnership or the unit trust, as the case may be.
There are three main types of funds, distinguished by the Belize Mutual Funds Act: -
Public Funds;
Private Funds;
Professional Funds;
Public Funds in Belize
The Belize Mutual Funds Act defines a public fund as a fund that offers any shares it issues for subscription or purchase to any member of the general public or any section thereof; and which is registered as a public fund under the Belize Mutual Funds Act.
This is the type of fund that attracts the highest degree of regulation.
Public funds must be registered (or obtain consent to registration under a pre-filing procedure) before engaging in any business activity in or from within the Belize. A public fund must publish a prospectus including the information required by the Act and must also produce and distribute audited annual financial statements. The Registration Application includes details of all directors, managers, administrators and other persons closely involved in the management of the fund. There are very stringent "fit and proper" requirements to be met in regards all individuals involved with the promotion and management of a fund.
The Mutual Funds Act requires that a prospectus for a public mutual fund shall provide full and accurate disclosure of all such information as investors would reasonably require and expect to find for the purpose of making an informed investment decision. The prospectus for a public mutual fund must also contain a summarised statement of investors' rights (as also prescribed by the Act) and it must be accompanied by or contain reference to the availability of the financial statements for the last financial year of the fund and the auditor's report thereon if the fund has completed a financial year in operation.
Belize Private and Professional Funds
The Belize Mutual Funds Act defines a private fund as a fund that has less than fifty investors and the constitutional documents of which prohibit the offering of its shares to the general public. At application, a proposed private fund will be expected to demonstrate the "private basis" of offering its shares to prospective investors, and to explain what criteria will enable any particular investors to qualify as "private". It remains with the Registrar of Mutual Funds to either accept or reject any such explanation.
The official definition of a professional fund is that of a mutual fund, the shares in which are offered only to professional investors and the initial investment in which, in respect of each investor, is not less than one hundred thousand US$ dollars or its equivalent in any other currency. Consequently, the "professional investor" is defined as any person, who qualifies under one of the two alternative criteria: a professional investor is one whose ordinary business involves the acquisition or disposal of property of the same kind as the property, or a substantial part of the property of the fund; or a professional investor is also one who has declared his net worth to exceed one million US dollars and has consented in writing to be treated as a professional investor.
In simple terms, therefore, a "professional investor" is a person who is supposedly either an investment professional (and therefore should be aware of the inherent risks of investing), or a person who has expressly declared and acknowledged the investment risks, in addition to declaring that his net worth is substantial (so that an eventual failure of the investment should supposedly not leave this person bankrupt).
As opposed to "registration" of the public funds, required by the Act, the procedure prescribed for professional and private funds is called "recognition". It is much simpler than the one prescribed for the public funds. The recognition of a private or professional fund in Belize requires completion of the relevant application, provision of the proofs or documents that supposedly qualify the fund as private or professional, provision of the details of the fund itself, as well as the details of its managers, administrators, custodians and other professionals involved (as the case may be) and their place(s) of business. The application should be accompanied by the prescribed fees.
At recognition of a private or professional fund, most of the attention of the Registrar will be centred towards the particulars of the managers, administrators and other professional parties involved with the fund. The requirements towards such professionals are fairly stringent and detailed. Establish a Mutual Fund in Belize: If you like to register a mutual fund in Belize, please submit your inquiry by e-mail to info@ukincorp.co.uk, with the subject: "Establish a Mutual Fund in Belize" or by post: Attn: Coddan CPM LTD, Corporate Division, 124 Baker Street, London, W1U 6TY, or by fax: + 44 (0) 207.681.3318. Upon receiving the information, you will be contacted by one of the business consultant to discuss your needs.
Establishment of BVI Offshore Mutual Funds
British Virgin Islands is the global leader in registration of offshore mutual funds. More than 3000 mutual funds are currently registered in the BVI, with the total of over 100 billion US dollars under management. The popularity of the BVI as the prime location for offshore mutual funds grows by the day, as investment professionals increasingly recognize the benefits of this tax haven jurisdiction. Coddan can provide a comprehensive incorporation and licensing services package to establish a private, professional or public mutual fund in the BVI, or to register a fund management company in the BVI.
For the investment professional a mutual fund enables efficient use of existing research and investment expertise and resources. The properly structured offshore fund offers a number of features that distinguish it from a traditional mutual fund: -
Flexible regulation makes it easier to establish and administer the funds;
Formation and operating costs are significantly lower;
Lower costs means funds can be offered at zero or low load and with competitive management fees and service provider fees not tied by regulations;
Wide choice of fund structure;
Fund assets may be anywhere in the world;
Investors may be individual or entities anywhere in the world;
Whilst there are no restrictions on investors the fund should seek legal advice in each country of offering;
There are no taxes or duties enabling the fund to reinvest profits and gains in their entirety;
Generally tax on gains is deferred until redemption by the investor;
Tax advice must be sought in the jurisdictions of the sponsor, manager and investors;
No requirement for the key fund functionaries to be resident in the BVI;
No substantial back office operation required;
Placing clients in a fund significantly reduces client transactional paperwork;
Investors simply receive the periodic net asset value or financial statement;
The fund enables efficient use of research, investment expertise and resources through the pooling of investments.
When choosing an offshore financial centre in which to establish the fund, there are a number of factors to consider both from the sponsor's and the investor's point of view: -
Integrity is the key to investing millions of dollars in or through a perhaps unfamiliar jurisdiction. The BVI has a reputation second to none as a corporate domicile and is a leading centre for formation of funds. The Mutual Funds Act 1996 and Regulations ensure a well regulated regime which balances a policy of non-interference in the day to day operations of the fund with safeguards to investors. Many offshore jurisdictions regulate only funds of a certain size or nature and do not specifically licence the professionals involved. The differentiated regulatory scheme Act covers all levels of funds but is in no way burdensome to the fund. Establish a Mutual Fund in BVI: If you like to register a mutual fund in BVI, please submit your inquiry by e-mail to info@ukincorp.co.uk, with the subject: "Establish a Mutual Fund in BVI" or by post: Attn: Coddan CPM LTD, Corporate Division, 124 Baker Street, London, W1U 6TY, or by fax: + 44 (0) 207.681.3318. Upon receiving the information, you will be contacted by one of the business consultant to discuss your needs.
Incorporation of Offshore Mutual Funds in Nevis
Nevis has recognized the potential of the funds market and as a result, designed the Nevis International Mutual Funds Ordinance 2004, to provide an innovative investment vehicle which tailors specifically to the needs of discerning clients. Under the Nevis International Mutual Funds Ordinance, a mutual fund refers to a company incorporated, a partnership formed, a unit trust organized or other similar body formed under the laws of Nevis or any other jurisdiction which collects and pools investor funds for the purpose of collective investment.
The fund must issue shares that entitle the holder to receive on demand, or within a specified period after demand, an amount computed by reference to the value of a proportionate interest in the whole or part of the net assets of the company, partnership, unit trust or other similar body. The definition includes umbrella funds whose shares are split into a number of different classes of funds or sub-funds. It also includes a fund which has one or more investors which are mutual funds not registered or recognized by the Ordinance.
One of the innovative features of the Ordinance is that it allows for three classes of mutual funds: -
Public fund which offers its shares or units to the general public and are required to be registered;
Private fund which offer its shares on a private basis, has no more than 50 investors and is required to be recognized by the Minister of Finance upon proof that it is lawfully constituted; and
Professional fund which is available only to professional investors with an initial investment of not less than US$ 100,000 and is also required to be recognized by the Minister of Finance, but can be fully operational for a period of 14 days without being recognized under the Ordinance.
A Nevis international mutual fund must have a licensed and independent fund custodian. There must also be a licensed manager or administrator of the fund. An attractive aspect of the Nevis Mutual Funds is that managers or administrators who are not resident or domicile in Nevis and who are authorized to provide services under the laws of a recognized jurisdiction may operate from within Nevis after receiving written permission from the Minister of Finance. Additionally, a licensed or recognized mutual fund of a prescribed jurisdiction can easily be continued or redomiciled in Nevis, if it is in good standing. The same redomiciliation privilege is given to the investment manager and administrator of that existing fund. Establish a Mutual Fund in Nevis: If you like to register a mutual fund in Nevis, please submit your inquiry by e-mail to info@ukincorp.co.uk, with the subject: "Establish a Mutual Fund in Nevis" or by post: Attn: Coddan CPM LTD, Corporate Division, 124 Baker Street, London, W1U 6TY, or by fax: + 44 (0) 207.681.3318. Upon receiving the information, you will be contacted by one of the business consultant to discuss your needs.
Type of Seychelles Mutual Funds and Hedge Funds
The Seychelles Mutual Fund and Hedge Fund Act prescribes four different types of funds: -
Professional funds mean a mutual fund; the equity interests which can only be acquired by professional investors and in respect of which the initial minimum investment per investor is not less than US$ 100,000 or its equivalent in any other convertible currency.
A professional investor means a person: -
1. Whose ordinary business or employment involves, whether for his own account or the accounts of others, the acquisition or disposal of property of the same kind or substantially the same kind as the property of the relevant fund;
2. Who has a net worth, whether individually or jointly with his spouse, exceeding US$ 1,000,000 or its equivalent in any other convertible currency, and has signed a declaration to such effect and consenting to be treated as a professional investor;
3. A bank licensed under the Financial Institutions Act, 2004 or under the corresponding law of a recognized jurisdiction;
4. A mutual fund licensed under this Act or under the corresponding law of a recognized jurisdiction;
5. An insurance company licensed in Seychelles or under the corresponding law of a recognized jurisdiction; or
6. A securities dealer or stock broker licensed in Seychelles or under the corresponding law of a recognized jurisdiction.
Private Funds in Seychelles
A private fund means a mutual fund; a) the constitutional documents of which specify that it will have no more than 50 investors or b) the constitutional documents of which specify that an invitation to the public to subscribe for or purchase equity interests in the mutual fund is prohibited.
Seychelles Public Funds
A public mutual fund is defined as any mutual fund which is not a private fund or a professional fund (namely funds offered to the general public).
Exempt Foreign Funds
An exempt foreign funds are those holding a current license or other authorisation to operate as a mutual fund issued under the laws of a recognised jurisdiction. The Act allows foreign funds to receive an exemption from the licensing authority and operate from within Seychelles without a Seychelles Fund license if the fund is: a) administered by a person holding a Seychelles fund administrator's license b) incorporated or otherwise established and domiciled outside Seychelles c) listed on a recognized stock exchange or has initial minimum investments of US$ 100,000 or its equivalent per investor.
Mutual and Hedge Fund Vehicles
Another distinct advantage of mutual and hedge funds licensed in Seychelles are the variety of options for fund vehicles: -
Seychelles international business companies (IBC) - tax exempt;
Seychelles special license companies (CSL) - has access to the growing;
Seychelles DTA tax treaty network (1.5% on CSL income);
Seychelles international limited partnerships (LP) - tax exempt;
Seychelles international trusts (unit trusts) - tax exempt;
Companies, unit trusts or limited partnerships constituted in a recognized jurisdiction - tax exempt.
Other Fund Features
Taxes - in addition to enjoying favorable tax status via the various fund vehicle options, Seychelles licensed funds are fully exempt from business tax on the income of a fund (except if using a special license company to access treaty benefits in which case the income tax would be 1.5%) as well as from withholding tax (dividends, interest, royalties, capital gains) and stamp duty.
Auditing - auditing of accounts of Seychelles funds and fund administrators may be audited by approved overseas auditors including those qualified and belonging to recognised bodies in Australia, Canada, Hong Kong, Singapore, South Africa, UK and USA.
Efficient application and approval - recognising the short window of opportunity often presented for hedge funds, the licensing authority desires to speed the approval process for those deemed "fit and proper" and with properly completed applications; especially for those applying for a private or professional fund license.
Time Zone - Seychelles being located at GMT +4 falls within overlapping business hours from the Europe to Asia.
Costs - Seychelles mutual funds can be established and administered for less than most competing jurisdictions.
Value - factoring all of the above, Seychelles offers the best value of any country/jurisdiction in the world for the establishment and administration of a mutual fund or hedge fund. Establish a Mutual Fund in Seychelles: If you like to register a mutual fund in Seychelles, please submit your inquiry by e-mail to info@ukincorp.co.uk, with the subject: "Establish a Mutual Fund in Seychelles" or by post: Attn: Coddan CPM LTD, Corporate Division, 124 Baker Street, London, W1U 6TY, or by fax: + 44 (0) 207.681.3318. Upon receiving the information, you will be contacted by one of the business consultant to discuss your needs.
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You can chat with one of our advisors right now. Just click on the image to the left to start chatting. Live Help is a real time chat feature which enables you to interact with our customer service representative without a phone call. Get answers to your questions while using our web-site. Clicking the "Live Help" button will start an online session with one of our representatives. Live Help is currently available during normal business hours. Outside of the indicated below opening hours, our Live Help centre will be closed, when you click on the chat button, you will see an e-mail form that allows you to send us an e-mail request with your questions. Our Live Help is free, there are no hidden fees.
Our hours of operation are posted on the contact page at all times. Telephone and Live Chat assistance is only available during business hours.
Opening Hours:
Monday - Friday: 9:30 a.m. to 18:00 p.m. Saturday: offices are closed Sunday: offices are closed Holidays: offices are closed on all recognised UK holidays.
Dear customers, ladies and gentlemen, while having a chat session with our visitors, we are frequently requested to give an advice on tax planning or business structuring, and we would like to inform you that it is against our principles to provide an online free advice pertaining to these issues.
The points and tips that can be covered during a chat session include: our packages, services description and charges, legal requirements to start-up a business offshore, bank account arrangements, trademark registration, post incorporation services, notaries, consulate or apostille legalisation and other authentication services, documentation preparation and filing, mail forwarding overseas, telephone, fax and virtual office facilities, bookkeeping and accounting services, offshore incorporation service, ways to place an order, methods of payment etc.
If you wish us to provide you an advice or recommendations on tax savings and tax minimisation, or corporate business structuring methods, you should be aware that this service has chargeable elements.
Money and Payment Policy
Coddan accepts all major currencies; we accept Visa, Visa Electron, Visa Purchasing, JCB, MasterCard, Maestro, Solo, and Delta, we also accept cheques (may be held 10 days to clear), postal orders or cash deposit, and bank transfers from anywhere to our UK and USA bank accounts. After you place an order, details about the banking transfer will be e-mailed to you on the second e-mail notification. If you missed that e-mail, please call our phone number that is given on the order confirmation. The customer is responsible for the reimbursement of any bank wire transfer payments.
Our credit card payment processing is by WorldPay - an important part of The Royal Bank of Scotland Group, the 5th biggest banking group in the world. We do not charge surcharges for the debit and credit card transactions. Credit or debit card payment is now authorised online in real time. You will be informed immediately if your credit or debit card is declined. If declined, you may check the accuracy of the card number and expiration date, or choose a different card to try.
We need to receive a payment before we can proceed with a new company formation. For regular or corporate clients, we can open a professional credit account. However, this benefit cannot be provided to a new customer, who never placed orders with us.
If you do not feel comfortable transmitting your credit card details on the Internet, we suggest you place an order online, choose the option "Credit Card via the Phone" as the payment method, and then phone in to give us your credit card number over the phone. We will charge your credit card manually. We can also accept credit or debit card payments by fax, to do so, we will e-mail you a credit or debit card authorisation form, and you will need to print out the form, complete the details by hand and send it to us by fax to: + 44 (0) 207.681.3318.
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This is our most popular package with worldwide customers, and includes: -
The registration your offshore company from scratch using our registered agent & registered office address, and appoint your own candidates to the roles of director, and shareholder;
The provision of a registered agent and registered office address in Panama for 12 months are also included in the price of this package (our registered agent and provision of a registered office address service are charged annually);
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