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Joint stock company, commonly abbreviated as JSC, is a public legal entity, which means that its shares can be publicly traded. Similarly as limited liability company, also JSC shareholders liability is limited by the contributed capital.
Authorised capital The minimum amount of capital for JSC is 35,000 EUR and this sum has to be paid in fully by the registration of the company. In case of specific legal entities, such as insurance companies, banks and other non-banking financial institutions, the minimum share capital amount can be much larger.
Shareholders of the company Similarly as for a limited liability company, the owners of company shares may be either legal entities or individuals. But contrary to a limited liability company, JSC shares can be bought and sold publicly. The maximum number of shares is unlimited and more shares can be issued during the life of the company. There are several types of shares and usually the shareholders’ rights to vote and receive dividends depend on the category of shares. Typically shareholders are entitled to express their opinion about the direction of the business and other subjects, such as the distribution of profit and appointment of the council. All shareholders’ decisions are made during a shareholders’ meeting.
A council elects as well as revokes members of the board of directors. Board of directors is the executive body of the company. Unless stated otherwise, all members of the board of directors represent the company jointly and decisions are made by voting. Only a private person can be a member of the board of directors.
Documents needed for JSC incorporation in Latvia In order to register a company in Latvia, below documents need to be submitted in the Register of Enterprises of the Republic of Latvia:
Company incorporation application form; Agreement (or a decision in case of a sole shareholder) to establish a company; Articles of association of the company; Bank’s reference confirming the share capital payment; Founder registry schedule of the company; Confirmation by the council of the company; Confirmations by the board members of the company; Resolution about the company’s legal address signed by a board member; Resolution about the allowance to register the company in the particular address (signed by the real estate’s owner); Proof of payment of the state taxes for a company formation; Proof of payment for a publication in the official newspaper “Latvijas Vestnesis” JSC incorporation process in Latvia Incorporation of a JSC in Latvia is a complex legal procedure, which requires involvement of experienced corporate lawyers or incorporation agents. JSC incorporation generally consists of the following steps:
Collection of all necessary information and documents for the incorporation of a company; Preparation of the foundation documents for the incorporation of a company; Signing of the foundation documents (at the notary); Opening of a temporary bank account where the share capital is paid; Payment of state fees for the company formation and the publication in the official newspaper; Submission of the foundation documents to the Register of Enterprises of the Republic of Latvia; When the company is registered, you shall receive following documents:
Certificate of registration; Articles of association; Decision of the state notary of the Register of Enterprises of the Republic of Latvia Reporting to tax office JSC is obliged to report its financial statements once a year and a report on the company’s employee salaries must be submitted each month. In case the company’s turnover exceeds 50,000 EUR, it is obliged to register as a VAT payer. This also needs to be done if the company plans to export goods or services abroad. If a company is registered as a VAT payer, it has to submit VAT reports on a monthly basis.
Membership in International Unions Whether it is an alliance, incorporated union, federal union or supranational body here is the list of unions the country is a member of. Hungary is a member of several unions. They are European Union, International Monetary Fund, North Atlantic Treaty Organization, Organisation for Economic Co-operation and Development, Schengen Area, United Nations, World Trade Organization.
European Union Hungary is a member of European Union. On 1 May 2004, it joined the EU as a full member state. The EU is a unique economic and political partnership between 28 European countries that together form a politico-economic union and cover much of the European continent. It covers an area of 4,324,782 km, with an estimated population of over 508 million. People can travel freely throughout most of the continent. Operating as a single market, the EU is a major world trading power. And it's become much easier to live, work and travel abroad in Europe.
International Monetary Fund Hungary is a member of International Monetary Fund. On 6 May 1982, it joined the IMF as a member. The IMF is an organization headquartered in Washington, D.C., of 189 countries working to foster global monetary cooperation, secure financial stability and facilitate international trade. The IMF now plays a central role in the management of balance of payments difficulties and international financial crises. The union is governed by and accountable to the all 189 member countries. As of 2010, the fund had SDR 476.8 billion (about US$ 755.7 billion).
North Atlantic Treaty Organization Hungary is a member of North Atlantic Treaty Organization. Hungary has been a part of NATO since 12 March 1999, and therefore has been a member of NATO for 24 years. The North Atlantic Treaty Organization (French: Organisation du Traité de l'Atlantique Nord; OTAN) is an intergovernmental military alliance based on the North Atlantic Treaty which. NATO's headquarters are located in Haren, Brussels, Belgium. NATO promotes democratic values and encourages cooperation on defence and security issues. The organization constitutes a system of collective defence whereby its member states agree to mutual defense in response to an attack by any external party. NATO is committed to the peaceful resolution of disputes.
Organisation for Economic Co-operation and Development Hungary is a member of Organisation for Economic Co-operation and Development. On 7 May 1996, it joined the OECD as a member. The Organisation for Economic Co-operation and Development (French: Organisation de coopération et de développement économiques, OCDE) is an international economic organisation of 34 countries, founded in 1961 to stimulate economic progress and world trade, and promote policies that will improve the economic and social well-being. It is a forum in which governments can work together to share experiences and seek solutions to common problems. OECD work with governments to understand what drives economic, social and environmental change. OECD measures productivity and global flows of trade and investment.
Schengen Area Hungary is a member of Schengen Area. On 21 December 2007, it was accepted into Schengen Area. The Schengen Agreement is a treaty which led to the creation of Europe's borderless Schengen Area. It entitles every EU citizen to travel, work and live in any EU country without special formalities. It was signed on 14 June 1985 by five of the ten member states of the then European Economic Community near the town of Schengen, Luxembourg. Schengen cooperation enhances free movement of persons by enabling more than 400 million EU citizens to cross internal borders without being subjected to border checks.
United Nations Hungary is a member of United Nations. On 14 December 1955, it joined the UN at its inception date as a full member state. Founded in 1945, the United Nations is an intergovernmental organization to promote international co-operation. The work of the United Nations are guided by the principles contained in its founding Charter. It is currently made up of 193 Member States. The headquarters of the United Nations is in Manhattan, New York City, further main offices are situated in Geneva, Nairobi and Vienna. Its objectives include maintaining international peace and security, promoting human rights, fostering social and economic development, protecting the environment, and providing aid.
World Trade Organization Hungary is a member of World Trade Organization. On 1 January 1995, it joined the WTO as a member. The World Trade Organization is an intergovernmental organization which regulates international trade. At its core are the WTO agreements ratified in national parliaments. It is the only global international organization dealing with the rules of trade between nations. The goal is to help producers of goods and services, exporters, and importers conduct their business. The WTO deals with regulation of trade between participating countries by providing a framework for negotiating trade agreements and a dispute resolution process aimed at enforcing participants' adherence.
The company that registers a trademark obtains an exclusive right to use it together with legal protection. In this way, the trademark itself can gain a value, which can grow with time, according to the value and reputation of the brand. The trademark holder can prevent the use of a similar trademark for a similar business purpose if unauthorized third parties undertake such attempt. Therefore, it is very convenient to register a trademark, if you want to prevent a competitor from using a similar sign to identify its products or services.
The trademark holder has the right to use well-known symbol ®, making it clear that no other company can use this trademark, because it has already been registered and is under legal protection.
Registering a trademark can also give you the possibility to reach agreements for franchising contracts, gaining a share for the use of the trademark made by the contractors. In such manner, the creation of a chain becomes possible.
Nonetheless, the registration could be rejected if it does not meet specific requirements. In particular, the requirement of distinctiveness means that, for example, words describing company's goods or services are too generic, implying it cannot be registered as a trademark.
If you have any questions or you require legal assistance in registration of a trademark in European Union – contact our lawyers directly or read our F.A.Q. section. Our field of expertise includes intellectual property rights and litigations – we can help you reach your goals!
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Order one of the offered Estonian business services and preparation of possible solutions will be undertaken. Confidus Solutions, in conjugation with a multitude of experts (Estonian local including), develops a strategy and creates a unique tailor-made corporate solution for each customer. Once the communication is established, you will receive a list of documents and information required to proceed.
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Nominee services are typically provided by an intermediary to conceal the beneficial owner's business. Nominee services relate to nominee shareholders and nominee directors. As a rule, the nominee service should also include a PO box service (office address for correspondence purposes). Nominee services are suitable for large corporate structures for tax planning purposes and often involve international elements. For example, the beneficial owner is located in a different country than the company itself.
Nominee shareholder services are normally performed on the basis of a declaration of trust, whereby the nominee declares that they hold shares on behalf of someone else and have no authority to make decisions in the company, vote at a shareholders' meeting, or receive dividends, unless: the customer has expressly instructed it. The nominee has no rights to sell shares unless requested by the client. However, the Client and the Agent may agree on specific tasks for the Agent to perform. Such duties are often delegated to lawyers and attorneys who are professionals in the field and can protect the interests of the client.
Nominated director, also called "shadow director", who usually only appears for official records, while the company is effectively ruled by the client by power of attorney. Based on the authorization, the customer can open a bank account and assume full management and control of the company.
Benefits of nominee services The benefits of using nominee services are evident in cases where a business owner wishes to maintain their privacy and reduce access to official records or does not want their name to be associated with the business in question. In addition, there may be situations where an individual has restrictions on performing the proposed activity or where the law requires local management, such as a local secretary in Hong Kong.
When a quick action is necessary to register a company abroad, in case the client cannot travel, it is often more convenient to temporarily appoint a local company manager. If the intention is to open a company in overseas jurisdiction, such as BVI, Belize, Hong Kong, it might be physically complicated to arrive in person.
Nominee services usually guarantee confidentiality and anonymity. However, a disclosure sometimes happen at bank or in investigation authorities during court proceedings.
The nominee services are widely used for tax planning and asset protection purposes. If ultimate beneficiary of completely corporate structure is based in low tax countries, he should enjoy the benefits of low tax system for the received dividends from the earned profits.
Other advantage derives from the registration country and is often referred to financial statements and reports. In some tax haven jurisdictions there is no need for submitting the annual, therefore, low auditing and bookkeeping requirements that provide certain advantages, if the person is willing to increase privacy and confidentiality and hide his/her assets.
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Asia has a very rich cultural heritage that has been carefully carried out throughout the centuries of history. Today, Asia is very attractive to international investors as it has several major economies as well as several special areas with thriving economies and favorable tax regimes.
Below is our top list of international investment jurisdictions in Asia.
Hong Kong Modern Hong Kong can boast a free market economy that relies heavily on international trade, the financial sector, the volume of exports/imports including a fairly large proportion of re-exports. Hong Kong imposes zero tariffs on imported items. In addition, only four categories of goods are subject to excise duty: strong liquor, tobacco, hydrocarbon oil and methyl-based alcohol. Currently, Hong Kong has no quotas on import/export of anything. The Hong Kong government continues to peg the local currency (Hong Kong dollar) closely to the US dollar, supporting an agreement dating back to 1983.
The local government is actively developing the Special Administrative Region (SAR) to make it a desirable target for the mainland Chinese renminbi to achieve its internationalization in the business world. Local residents are allowed to open savings accounts in RMB currency; In addition, corporate and Chinese government bonds were publicly issued in RMB currency in Hong Kong; and currently in the private and public sectors, settlement of RMB agreements is permitted. The Hong Kong government is currently trying hard to increase the additional RMB investment in Hong Kong’s financial markets and is looking for a way to greatly increase the RMB quota.
Macau Since establishing its local casino industry hotspot in 2001, Macau has managed to attract tens of billions of dollars in international investment and fully transform the area into one of the largest global gambling hotspots. Macau’s gambling and tourism industries have been heavily impacted by China’s decision to ease travel restrictions on Chinese nationals looking for an opportunity to visit Macau. In 2016, Macau’s gambling taxes were estimated to account for over 76% of total budget revenue.
Macau’s economy suffered quite a bit in 2009. It was the result of a global economic crisis, but rapid economic growth continued somewhere into 2013. In 2015, Macau hosted about 31 million tourists with a city population of 646,800 people. About 68% came from mainland China. Services rendered, mainly gambling, have boosted Macau’s economic output several times. Recently, however, the anti-corruption campaign carried out by the Chinese mainland government has slightly affected Macau’s gaming industry.
Singapore Singapore currently has a prosperous, well-developed, free-market oriented economy. The Singapore government has done very little to achieve an open and almost 100% corruption-free governmental and business environment, as well as a strong economy and a fairly competitive (even by Western standards) per capita GDP. Employment rates are extremely high, while Singapore’s budget mainly relies on exports, particularly consumer goods and electronics, IT software, medical technology and devices, pharmaceuticals, as well as a buoyant business, banking and finance industry.
Singapore is a popular destination for many international investors and entrepreneurs, especially in certain industries. According to financial analysis data, it will continue to develop and become the most important business and high-tech hotspot in the Pacific Rim. Singapore is a proud member of the 12-nation Trans-Pacific Partnership Free Trade Agreement. It is also part of the Regional Comprehensive Economic Partnership Agreement. Singapore founded the ASEAN Economic Community together with the other ASEAN participants in 2015.
China Starting back in the late 70s, China has been working on it’s economy and market, rapidly going from internal government controlled closed market, to more liberal, open government planned system with profoundly internal market-oriented economy, leading to an increase of China’s impact on the global market. By year 2010, China has turned into the largest global exporter. Changes and reforms have started with slowly abandoning collectively planned agriculture, developing to introduce free-market pricing, decentralizing taxation, granting more autonomy for government-owned companies, expansions of the private sector, fast development of stock markets and introduction of a modern banking system as well as China’s access to international trade and investment.
China did undergo a number of reforms lately. During last few decades, Chinese government has renewed its support for government-owned companies in industries, which are strategic for country’s security and development. Such decision was made specifically to boost certain industries and make them more competitive on a global market. Such change of economy and the following benefits have dramatically impacted to a China’s GDP making more than ten times increase since year 1978.
Taiwan Modern Taiwan has a prosperous free-market economy with overall decreasing government control over international investment and trade industries. Strategic production industries, such as production of electronics, machinery and petrochemicals, have given the major boost and factors necessary for rapid growth of economy. However, such factors as Taiwan’s diplomatic isolation, extremely low birth rate, and quickly aging population are several major long-term challenges that Taiwan’s government needs to face and solve.
The total population of Australia is 24,772,247 people. The people of Australia speak the English language. The linguistic diversity of Australia is diverse according to a fractionation scale, which for Australia is 0.3349. The average age is around 38.3 years. Life expectancy in Australia is 82.1. The female fertility rate in Australia is 1.9. About 27% of Australia's population is obese. Ethnic diversity is nearly uniform according to a fractionation scale, which is 0.0929 for Australia. Details of the language, religion, age, gender distribution and advancement of the people of Australia can be found in the sections below, as well as the section on education in the country.
Population In Australia, the population density is 2.8 people per square kilometer (7 per square mile). Based on these statistics, this country is considered very sparsely populated. The total population of Australia is 24,772,247 people. Australia has approximately 6,763,663 foreign immigrants. Immigrants in Australia account for 2.8 percent of the total number of immigrants worldwide. Immigrants in Australia account for 27.7 percent of the total number of immigrants worldwide. Australia's ethnic diversity is nearly uniform according to an ethnicity-based fractionation scale. Ethnic Fractionation (EF) deals with the number, size, socioeconomic distribution, and geographic location of diverse cultural groups, usually within a state or some other demarcated area. Specific cultural characteristics can refer to language, skin color, religion, ethnicity, customs and traditions, history, or other distinctive criteria, alone or in combination. These characteristics are often used for social exclusion and power monopolization. The index of ethnic fractionation in Australia is 0.0929. This means that the people living in Australia come from a narrow group of ethnicities, all related to one another. EF is usually measured as 1 minus the Herfindahl concentration index of ethnolinguistic group proportions, which reflects the probability that two randomly drawn individuals from the population belong to different groups. The theoretical maximum of EF of 1 means that each person belongs to a different group. Below are Australia statistics on average age and gender distribution at different ages.
Age The average age is around 38.3 years. The average age of men is 37.5 years and the average age of women is 39 years.
Gender The sex ratio, or number of males per female (estimated at birth), is 1.055. It can be further broken down into the following categories: sex ratio under 15 - 1.05; sex ratio from 15 to 64 - 1.03; sex ratio over 64 - 0.84; Overall sex ratio - 1. The overall sex ratio differs from the sex ratio estimated at birth. This is because some newborns are included in the sex ratio estimated at birth, but die within the first few weeks of life and are not included in the overall sex ratio.
Religion Australia's majority religion is Christianity, whose adherents make up 67.3% of all religious believers in the country. Christianity is an Abrahamic monotheistic religion based on the life and teachings of Jesus Christ as presented in the New Testament. Christianity is the largest religion in the world with over 2.4 billion followers known as Christians. Christians believe that Jesus is the Son of God and the Savior of mankind, whose coming as Christ or Messiah was prophesied in the Old Testament. Besides Christianity, there are several other religions in the country. Other religions in Australia are Islam, Hinduism, Buddhism, folk religions, Judaism. Australia's religious diversity is very diverse according to a fractionation scale based on the number of religions in Australia. The Index of Religious Fractionalization in Australia is 0.8211. This score means that several major religions in Australia coexist with each other and with some subordinate beliefs.
The development of telecommunications and economic globalization have made it possible for interested investors to set up companies all over the world. With proper research, financial investment and legal backing, business ventures can be safely incorporated in almost any country in the world. Building an international business used to be a complicated entrepreneurial venture, but today it is commonplace with the help of experienced legal and business advisors.
The advantages of founding a company abroad are as numerous as they are obvious. Many countries offer specific locational advantages, ranging from natural resources and well-established infrastructure to beneficial laws and regulations that encourage growth in a particular industry. Likewise, it can be difficult to start a business or an acquisition in your own country due to adverse situations: political or regulatory environment, lack of resources and more. In this situation, it makes sense to consider an overseas option that offers greater opportunities for growth, development, and success.
Company registration in Guadeloupe When starting a business in Guadeloupe, an interested investor must conduct due diligence on legal procedures, international regulations and sufficient investment for success. It is crucial to understand cultural, social and political factors that influence starting and growing one's business. Failure to do so may result in unintended consequences. Poorly researched and toneless international launches often end in disaster as time, money and energy is wasted due to poor planning.
Legal Documents Every country in the world presents its own intricate challenges when it comes to starting, developing and maintaining a business. Owners, financiers and investors must make these commitments with the support of a knowledgeable and experienced legal team. Only someone with in-depth knowledge of local and international corporate law will be able to set up an overseas business while avoiding the pitfalls that plague many new businesses.
Additionally, smart business people can consider ways to invest in foreign companies without actually starting their own businesses. In these situations, it is still beneficial for the investor to partner with a knowledgeable global economics and litigation advisor. International investments create a truly diverse portfolio that offers growth opportunities that were unthinkable decades ago.
Potential investors, venture capitalists and entrepreneurs should consider the existing infrastructure in Guadeloupe when planning to start a new business. While extensive infrastructure and systems can help make the process of starting a business a smooth one, it could also represent market saturation and reduced growth potential. On the other hand, a lack of infrastructure is often a major obstacle to growth; However, the lack of infrastructure points to a clear market opening for a creative and efficient new business.
Opening a bank account in Guadeloupe In connection with the formation of a company, it is necessary to open one or more bank accounts in Guadeloupe. Confidus Solutions offers the ability to open a bank account in over twenty jurisdictions, making it easy for you to avoid challenging language barriers or bureaucratic hassles.
Virtual office in Guadeloupe Since a registered address is a necessity for international business, Confidus Solutions enables foreign investors to set up a virtual office in Guadeloupe. This address allows international entrepreneurs to accept mail, arrange for shipping and set up a registered bank account in their country of business.
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17.03.2024 13:28