| General Information |
| Company Law |
IBC Act 1994, (as amended 2000) |
| Type of Company |
International Business Company (IBC) |
| Language of Legislation and Corporate Documents |
English |
| Taxation of Foreign Profits |
Nil |
| Exchange Controls |
None |
| Length of Time to Incorporate |
2 to 3 working days |
| Shelf Companies Available |
Yes |
| Corporate Names |
| Name Restrictions |
Names identical or similar, offensive words |
| Endings and Abbreviations Required |
Limited, Corporation, Incorporated, Sociedad Anonima, or its abbreviations |
| Length of Time to Verify Name Availability |
One day |
| Reservation of Names Permitted |
Yes |
| Language of Name |
Any language using the Latin alphabet |
| 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 |
| 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 |
No |
| Corporate Directors/Officers Permitted |
Yes |
| Local Directors/Officers Permitted |
No |
| Appointment of Subsequent Directors/Officers |
Memorandum and Articles of Incorporation |
| 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 |
Memorandum and Articles of Incorporation |
| 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 |
US$100 |
| Annual License Fee or Franchise Tax Due Date |
Company's Anniversary |
| Applicable Surcharges |
10% and 50% |
| 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. |
