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OFFSHORE COMPANIES/ IBCs

FORMING AN INTERNATIONAL BUSINESS COMPANY (IBC)
FEES
IBC FORMATION CHECKLIST

FORMING AN INTERNATIONAL BUSINESS COMPANY (IBC)

We strongly adhere to the "know your client" principle and the performance of due diligence.
Prior to accepting new clients, due diligence is required in the form of identity, references, and general information on the beneficial owners of the proposed company. Specifically, the following is needed for each beneficial owner:

  • Copy of the relevant passport pages;
  • Bank reference letter;
  • Information on citizenship, residency, profession, business, and most importantly, source of funds.
US law requires that all US taxpayers holding more than 5% interest in a foreign corporation file an information return disclosing such a holding with the Internal Revenue Service. Additionally, income received by the foreign corporation and attributable to the beneficial owners should be declared as income by the beneficial owners to the Internal Revenue Service.

Once the due diligence has been verified and is satisfactory, the following is needed to process the incorporation of an IBC:
1. Name of company to be registered*
2. Name(s) of the Director(s) of the company**
3. Are the directors to be registered with the Offshore Authority?***
4. Currency in which shares will be issued
5. Total authorised capital in US Dollars
6. Class of Shares (Ordinary, preferred etc.)
7. Type of shares (Registered / Bearer Shares)
8. Par Value Per Share? Usually $1.00 per share
9. Number of shares to be issued
10. Number of share certificates to be issued
11. Any special provisions required in the Articles

*Three names should be provided in order of preference in case the first choice is not available. The word "Limited", "Ltd ", "Corporation", "Corp", "Incorporated", "Inc." or any other words or abbreviations which signify limited liability must be a part of the name of every company.
**Each International Business Company must have at least one director and if the company has more than one shareholder, it must have at least two directors.
***In St. Vincent the names of the directors are not required to incorporate a company and registration of the names of the directors with the Offshore Finance Authority is optional. If the names of the directors are to be registered with the Offshore Finance Authority then a Notice of Directors is prepared with the incorporation documents. In such a case, the address and occupation of each director is required.

Upon incorporation our Registering Agent can provide the following documents:

  • Certificate of Incorporation;
  • Certificate of Tax Exemption;
  • Articles of Incorporation;
  • Appointment of Directors / Notice of Directors*;
  • Organizational Minutes;
  • By-Laws;
  • Share Certificates;
  • Maintenance Agreement;
  • Custodian Agreement**.
*Applies only if the names of the directors are registered with the Offshore Finance Authority.
**Applies only if our Agent is the custodian of the share certificates.

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FEES

Incorporation Fees
Incorporation .................................................... $ 1195.00
Courier Delivery (UPS, DHL, FedEx) ............. $ 100.00 - 150.00

Annual Fees
Renewal Fee ...................................................... $ 590.00

Other Fees
Amendment*...................................................... $ 325.00
Apostille ............................................................... $ 60.00
Certificate of Good Standing ............................. $ 75.00
Certificate of Incumbency .................................. $ 75.00
Duplicate Articles ................................................ $ 75.00
Duplicate Certificates .......................................... $ 75.00
Notarial Fees ......................................................... $ 30.00
Power of Attorney ............................................. $ 200.00
Resolution ........................................................... $ 200.00
Seal ......................................................................... $ 90.00
Signature (per document) ................................... $ 40.00
Time Spent (per hour)** ..................................... $ 100.00 - 200.00

*Amendment Fees
Resolution to Amend Articles ........... $ 185.00
File amendment .................................. $ 70.00
New Articles ....................................... $ 70.00
 Total Amendment Fee ...................... $ 325.00
**Time spent varies between $100.00 - $200.00 per hour depending on the level of employee performing the task (i.e. accountant, manager, secretary, etc).
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IBC FORMATION CHECKLIST

In order to incorporate a company please fill in the following form:

1. Legal Name of Company:
Name must include the suffix "Inc."; "Incorporated"; "Ltd."; "Limited", "Corp", "Corporation", or any other suffix that denotes limited liability.

2. Name of the Director(s) of the company:
3. Are the directors to be registered with the Offshore Authority? Yes
No
4. Currency in which shares will be issued? (usually US$)
5. Total authorised capital in US Dollars:
6. Classes of Shares?
Ordinary
Preferred
Other:
7. Type of shares: Bearer
Registered
8. Par value of shares (usually $1.00 per share):
9. Number of shares to be issued:
10. Number of share certificates to be issued:
11. Any special provisions to be placed in the Articles?
12. Name(s) of the ultimate beneficial owner(s)
(to be held in confidence):
Billing Contact:
Name:
Address:
Telephone:
Fax:
E-mail address: