| General Information |
|
| Company Law |
Business
Corporation Ordinance, 1984 (amended in 2002) |
| Type of Company |
Business Corporation |
| Language of Legislation and Corporate Documents |
English |
| Taxation of Foreign Profits |
Nil |
| Exchange Controls |
None |
| Length of Time to Incorporate |
Two days |
| Shelf Companies Available |
Yes |
| Corporate Names |
|
| Name Restrictions |
Names identical or similar, offensive words |
| Endings and Abbreviations Required |
Corporation, Incorporated, Company, Limited |
| Length of Time to Verify Name Availability |
Couple of hours |
| Reservation of Names Permitted |
Yes |
| Language of Name |
Any
language (some may require official
translation) |
| Name of Banks, Insurance, Investment Fund, Trust Company or their
equivalents requiring consent or license |
Yes |
| Capital and Shareholders |
|
| Minimum Number of Shareholders |
One |
| Local Shareholders Required |
No |
| Corporate Shareholders Permitted |
Yes |
| Disclosure of Shareholders |
No |
| Minimum Authorised Capital Required |
No minimum |
| Bearer Shares Permitted |
Yes (but with restricted mobility) |
| Registered Shares Permitted |
Yes |
| No Par Value Shares Permitted |
Yes |
| Directors and Officers |
|
| Minimum Number of Directors |
One |
| Qualifications of Directors |
Legal Age |
| Officers Required |
Yes |
| Corporate Directors/Officers Permitted |
Yes/Only Secretary |
| Local Directors/Officers Permitted |
Yes |
| Appointment of Subsequent Directors/Officers |
Articles of Incorporation or Bylaws |
| Meetings |
|
| Annual General Meeting of Shareholders Required |
No |
| Annual General Meeting of Directors Required |
No |
| Location of Directors and Shareholders Meetings |
Anywhere |
| Adoption by Consent Permitted |
Yes |
| Quorum required for purposes of meetings |
determined by the Articles
of Incorporation or Bylaws |
| Local Requirements |
|
| Qualified Registered Office/Agent |
Yes / Yes |
| Government Register of Shareholders |
Optional |
| Government Register of Directors/Officers |
Optional |
| Government Register of Charges |
Optional |
| Register of Directors/Officers to be kept at Registered Office |
Yes |
| Company Seal Required |
Yes |
| Copy of Minutes to be kept at Registered Office |
Optional |
| Copy of Share Register to be kept at Registered Office |
Yes |
| Annual Requirements |
|
| Minimum Annual License Fee or Franchise Tax |
$220 |
| Annual License Fee or Franchise Tax Due Date |
Company's Anniversary |
| Applicable Surcharges |
$100 if paid after 30 days from company's anniversary, and $220 if
paid after 180 days from company's anniversary |
| Requirement to File Annual Returns |
No |
| Requirement to Submit Annual Audited Accounts |
No |
| Other Relevant Information |
|
| Member of Apostille of the Hague Convention |
Yes |
| Increase or Reduction of Capital |
Directors' resolution |
| Redomiciliation Prohibited |
No |
| Reinstatement at Registry |
Yes |
| Removal from Registry |
Compulsory or voluntary winding up and dissolution; and striking-off
for non-payment |
