Information Required To Form An Exempted Company
- Proposed name, and alternatives.
Final word must be – “Ltd.”, “Inc.”, “Corporation”, “S.a.r.1.”, “N.V.”, “S.A.”, “Company”, International Business Corporation, “I.B.C.”, and the like. For a limited life company, the name must include those words, or “L.L.C.”
- Can be capitalized in any currency.
- Total nominal capitalization minimum, Five Thousand United States Dollars (US$5,000.00) or its equivalent in the foreign currency for which the Government fee is US$150.00. Next US$45,000.00 of nominal capital add 1%. Next US$50,000.00 of nominal capital add 2%. Over US$100,000.00 nominal capital government fee is US$800.00 plus one tenth percent over US$100,000.00.
- How many shares to be issued and to whom or to bearer (fully paid shares only to bearer). Our Nominee Shareholding Company, Logberg Management Ltd. will hold the shares for you endorsed in blank for transfer with a Declaration of Trust in your favour for privacy. Logberg Management Ltd. acts only on the instructions of the beneficial owner.
- Names of first directors and any officers. One director only required. We recommend, for privacy, that Logberg Directors Ltd. be named the Director of the Company, and Logberg Secretaries Ltd. as the Secretary of the Company. They act only on the instructions of the beneficial owner and this guarantees complete privacy. However, we will not provide nominee services for a company with bearer shares issued.
- Name of Representative Resident in the Turks and Caicos Islands (required by Section 192(1) of the Companies Ordinance). We suggest Logberg Corporate Services Ltd. be named.
- Banking – we require your instructions as to where banking is to be done and who is to be named on the Banking Resolution as the signing officers. For convenience, many people choose the principals of Logberg Corporate Services Ltd., as the signing officers, but this can be varied any way you desire. If banking is to be done elsewhere than in the Turks and Caicos Islands, please send bankers’ documents for execution. If client wishes sole signing authority on the bank account, normally we prefer not to act as Director.
- Brokerage Accounts – a brokerage account can be opened virtually anywhere in the world. Usually the principals of Logberg Corporate Services Ltd., are given trading authority (on your instructions).
- Annual Return (Section 187) and Annual Fee to Government payable January every year in the amount of US$350.00 regardless of month incorporated.
- Completion of client information form including reference letter and ID page of passport.
Twa, Marcelin, Wolf
Areas of Practice in the Turks and Caicos Islands
- Asset preservation
- Corporate and commercial law
- Company Formation and Management
- Equity Ltd.
- Immigration and residency
- Mortgage financing
- Real estate and property development
- Tax and estate planning
- Trademark services
- Yacht registration