Some facts about no par value shares.
In general no par value shares are shares for which the articles of incorporation do not fix a par value.
If no par value shares are chosen, then clearly company capital is unknown. Those shares can be of any value! Only when these shares are issued to shareholder value has to be stated. This is beneficial, for investment vehicles especially, as it brings more flexibility and higher prices can be set at latter stage when offering shares to new investors or shareholders.
There are several instruments that govern procedures related to information exchange between states, these are: Double Tax Treaties – DTT (aka double tax conventions – DTC), Tax Information Exchange Agreements – TIEA, Mutual Legal Assistance Treaties – MLAT and also there are some multilateral agreements available too.
The professional service relationship between a Nominee Shareholder and the actual owner of the offshore company would usually be confirmed by a Trust Declaration. By means of this legal document, the owner would at any time be able to prove his ultimate ownership of the shares in the IBC, and his rights to all benefits, dividends and proceeds from such shares.
(Part III) Application for a LICENCE to carry on, provide or transact any of the international financial services in or from within Belize.
When planning to start up your own business that involves money transmission services, don’t forget to obtain a special license, otherwise you can get into trouble! Under the Belize IFSC Statutory Instrument No 67 of 2007, we can assist obtaining special license. To be more specific, we can assist with licensing in Belize under thirteen different types of licenses.
Before starting to acquire a Belize broker, forex or any other licensed company, it is important to understand necessary application procedures and to have extensive understanding of the regulatory body that issues Belize special licenses. In Belize it is the IFSC (International Financial Services Commission) responsible for issuing and regulating all the thirteen different licenses.
Answering Sean’s question left in comments on The origins of Trusts...:
"Sean - Could you please explain what is meant by A, B and C ?"
Just like in physics all smallest particles can be explained, in Trust all parties can be explained! I want to do it short, well, as short as possible, in order to understand something, as we see there is plenty of information, but it is always so long and tends to be very complicated.
At the very basic level, the concept of the trust is when a person (Settlor) places assets in the legal custody of another person (Trustee). Subsequently the trustee holds the assets for the benefit of some third party (Beneficiary). The trust is not a separate legal entity, but more of a legal "obligation" agreed between the two parties - the settlor and the trustee. This agreement is outlined in formal documents, which is known as the Trust Deed.
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