Company Formation Hong Kong - PowerPoint

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					   LAVECO LTD.
       MIPIM 2009
Cannes, March 10th – 13th 2009
to provide insight into the possibilities offered by offshore
companies in the sale and purchase of real estate

to present the advantages which can be obtained by the use
of such companies

to introduce the services offered by LAVECO Ltd. in this field:
•   company formation
•   opening of bank accounts
•   registration of companies in Cyprus
•   administrative services
taxation: countries with high tax rates
 •   25 – 35% profit tax
 •   sale of real estate may be subject to VAT


stamp duty may be payable, usually by the buyer

inheritance
 •   inheritance tax may be as high as 40%
 •   in certain countries women can not inherit


asset protection
 •   malicious family members, relatives
 •   business partners
 •   spouses


anonymity
 •   business competitors
 •   official state bodies
There are numerous countries and jurisdictions
  throughout the world which have developed
  advantageous tax laws for companies which
   are registered in these countries. Countries
    falling into this category are known as tax
  havens, and companies registered there, but
 not carrying out activities there, are known as
                offshore companies.
Well-known jurisdictions: British Virgin
Islands, Panama, Seychelles, Belize, Gibraltar,
Cayman Islands.

Not typical offshore, or semi-offshore
jurisdictions: England, USA, Hong Kong,
Cyprus.
 In the countries listed above, there is either no tax at
       all on profits of a company, or the tax rate is
 extremely low. In the case of the Seychelles the tax is
  a fixed rate of 100 USD per year, while in the British
Virgin Islands the figure is 350 USD, irrespective of the
     company’s annual turnover or profit. Resident
companies in Cyprus are subject to 10% tax on profits,
      which by global standards can be considered
                   extremely favourable.
The by-laws of just about every type of offshore company allow for the company to
buy and own real estate in any country in the world. It is also necessary, however, to
take into consideration the laws of the country in which the real estate is situated,
as these may vary considerably from country to country.
1.There are countries where foreign companies can not buy real estate, even with
special permission.

2.In some countries, certain types of real estate (e.g. agricultural land, listed
buildings etc.) can not be owned by foreigners, while the ownership by foreigners of
other types is subject to special permits.

3.In other countries, if owning a property also means owning the land it is built on,
then this may only be achieved through the formation of a local company, and in
this case, it may not be advisable to have the building itself owned by a foreign
company.

4.In the most liberal countries, there are no restrictions on the acquisition of real
estate by foreigners, and so foreign companies can own property without having to
obtain special permission.
1. Sale and purchase of real estate through an
   offshore company I.

2. Sale and purchase of real estate through an
   offshore company II.

3. Sale and purchase of real estate through a project
   company I.

4. Sale and purchase of real estate through a project
   company II.
  OWNERSHIP
   RIGHTS

              100%




                     SHARES
OFFSHORE 1. LTD.
    -BELIZE-          100%




                                           BUYER




                        BENEFICIAL OWNER
                      OWNERSHIP
                       RIGHTS

                                  100%
  OWNERSHIP
   RIGHTS

              100%




                      OFFSHORE
                     HOLDING LTD.
                        -BVI-
                                         BUYER


OFFSHORE 1. LTD.
    -BELIZE-




                      BENEFICIAL OWNER
   OWNERSHIP
    RIGHTS

               100%




                       COMPANY
                      OWNERSHIP,
  PROJECT LTD.          SHARES
-COUNTRY OF REAL
ESTATE LOCATION-         100%



                                                   BUYER


                                BENEFICIAL OWNER
                     OWNERSHIP

                      SHARES
                      RIGHTS


                                 100%
                                        BUYER 1
                     OFFSHORE 1. LTD.
                      -SEYCHELLES-
  OWNERSHIP
   RIGHTS

              100%




  PROJECT LTD.
-COUNTRY OF THE
  REAL ESTATE
   LOCATION-

                                        BUYER 2


                     BENEFICIAL OWNER
taxation: no profit arises from the sale of the real estate in
the country in which the real estate is situated - there is no
profit, so there is no requirement to pay profit tax or VAT

the real estate itself has not been sold, so there is no
requirement to pay stamp duty

the share certificates are handed over, no inheritance tax is
payable

asset protection: assets are kept separately, nobody else has
access

anonymity: the individual does not appear as the owner of
the real estate in the official records
LAVECO Ltd. – established in 1991

We currently have 5 offices:
•   UK – London
•   Hungary – Budapest
•   Cyprus – Larnaca
•   Romania – Bucharest
•   Bulgaria – Sofia


The main activity of the company is the incorporation of tax-
free and low-tax companies in more than 40 countries and
jurisdictions throughout the world, together with related
supplementary services.
Company formation in more than 40
jurisdictions worldwide

Opening of bank accounts

Registration of companies in Cyprus

Administrative services
Traditional offshore jurisdictions:
 •   Zero tax havens: fixed rate of annual tax (100 – 350 USD)
     British Virgin Islands, Belize, Bahamas, Seychelles, Marshall Islands
 •   Territorial tax principle: Panama, Hong Kong
 •   US companies: Limited Liability Company
     For non-US owners and managers, operating outside the USA
     Delaware, Wyoming, Utah, Nevada, New York, Washington D.C.


For trading within the EU:
Cyprus: low tax (10%) – EU prestige

Prestige companies: UK Ltd. and LLP companies

Specialised companies: asset protection foundations – Panama
More and more difficult: a significant number of banks
throughout the world have now turned their backs on
accounts for offshore companies

Private banking: available in almost all banks, but high
deposit required (typically 500 000 EUR)

LAVECO speciality: retail banking possibilities for companies
incorporated through our services:
•   Cyprus
•   Hungary
•   Slovakia
•   St. Vincent and the Grenadines
•   Liechtenstein
   Cyprus has been a member of the EU since 2004
   profit tax was increased from 4.25% to 10% (lowest in the EU)
   liberal approach of the tax authorities
   stable banking background
   professional infrastructure: bankers, lawyers, accountants, consultants
   possibility of obtaining EU VAT number – for trade within the EU
   no withholding tax
   no capital gains tax
Private individuals resident in Cyprus for tax purposes:
   must spend more than 183 days on the island in the given tax year
   tax-free salary up to 19500 EUR
   no capital gains tax
   no inheritance tax
   no gift tax
secretarial services: forwarding of mail, fax and telephone messages

arrangement of accounting and auditing services: UK, Cyprus

arrangement of legal advice

obtaining corporate documents (Certificate of Good Standing,
Certificate of Incumbency), amendments to company details (change of
directors or shareholders, company name change, increase of capital
etc.)

provision of nominee owners and company directors

fiduciary services

ready-made companies from 11 jurisdictions in one working day
             LAVECO LTD.                                     LAVECO LIMITED
     Third Floor, Blackwell House,                        Despina Sofia Complex
        Guildhall Yard, London                     Apartment 202, United Nations 8, Drosia
                                                                   6042
      EC2V 5AE United Kingdom
                                                              Larnaca, Cyprus
        Tel: +44-207-556-0900                              Tel: +357-24-636-919
        Fax: 44-207-556-0910                              Fax: +357-24-636-920
     E-mail: london@laveco.com                          E-mail: cyprus@laveco.com



                                      LAVECO KFT.
                               33/a Raday St., Budapest
                                      Hungary 1092
                                 Tel: +36-1-217-96-81
                                 Fax: +36-1-217-44-14
                              E-mail: hungary@laveco.com


            LAVECO EOOD                                  OPTITAX CONSULT S.R.L.
Porto Lagos No.1, Ent.2, Floor 5, Ap.42                    59 Buzesti Str., A5 Block
           1463 Sofia, Bulgaria                         1st Scale, 1st Floor, 62nd Flat
                                                       1st District, Bucharest, Romania
          Tel: +359-2-953-2989
                                                            Tel.: +40-21-311-61-76
     Tel: +359-888-126-013 (Mob)                            Mob: +40-747-595-132
         Fax: +359-2-953-3502                               Fax: +40-21-311-61-82
     E-mail: bulgaria@laveco.com                           E-mail:office@optitax.ro
   LAVECO LTD.                                  LAVECO LIMITED

 Polina Vasilenko                                  Adelina Santis

 Regional Representative                           Regional Manager




                           LAVECO KFT.

                           László Váradi

                           Managing Director




LAVECO EOOD                                      OPTITAX
                                               CONSULT S.R.L.
Andrey Gramenov                                 Alexey Ustinov
Regional Representative                        Regional Representative
Thank you for your attention!
  Please feel free to visit any of our
offices for more information and free
             consultation!

				
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