Engagement Procedures

/Engagement Procedures

What is the Memorandum of Association?

When setting up an offshore company, there are two main documents that specify the particulars of the company and lay out the framework of the capital structure and governance of the company.  The Memorandum of Association is the first document drafted and filed with the registrar.  It specifies the name of the company, location of [...]

By | August 14th, 2014|0 Comments

What are the Articles of Association?

When setting up an offshore company, the Articles of Association are the second of the two main documents (the other being the Memorandum of Association) that are drafted which provide the framework for the company.   While the Memorandum of Association focuses more on basic particulars relating to the formation of the company, the Articles [...]

By | August 14th, 2014|0 Comments

What is a registered agent and registered office and must I have one?

The registered office is the legal address in the country of incorporation used by local government agencies and third parties to send official correspondence to a company and the place where certain documents of the company must be maintained. What is required to be maintained at the registered office differs from jurisdiction to jurisdiction. The [...]

By | August 14th, 2014|0 Comments

What are the company objects?

The company objects specify the allowed activities of the business and provide a framework within which the board of directors must keep the activities of the company. These objects are included in the Memorandum of Association.  The standard objects of most offshore companies are very broad to allow any kind of legal activity.  In fact, [...]

By | August 14th, 2014|0 Comments

What is share capital?

The share capital of an offshore company has two main components: the authorised capital and the issued capital.  The share capital is stated in a base currency which will be the reporting currency of the company for accounting purposes with each share having a "nominal" or "par" value unless the company was formed with "no [...]

By | August 14th, 2014|0 Comments

What is a nominee director?

This is an often confused matter, but there is simply no such thing as a "nominee" director even though many service providers advertise such services.  A director is a director.  Even worse some providers will offer the services of a "nominee" director along with provision of a General Power of Attorney to the client or [...]

By | August 14th, 2014|0 Comments

What is a nominee shareholder?

A nominee shareholder may be corporate or individual and merely takes the place of the true shareholder on corporate documents and applications helping to maintain an extra level of privacy.  Sterling does not utilize third parties for this purpose and generally utilizes a wholly owned corporate body for this purpose.  The true beneficial owner receives [...]

By | August 14th, 2014|0 Comments