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Frequently Asked Questions:
Q: Where will the final corporate package be delivered?
Q: If I incorporate a company in March 2007, when do I pay for the annual renewal of the Registered Office/ Registered Agent?
Q: In which jurisdiction must the beneficial owner be disclosed to the authorities?
Q: What is the average price for a director? Can you provide resident directors in all jurisdictions? How many directors do you provide?
Q: What is the average price for an incorporateacompany.com director?
Q: Do you offer any other services other than incorporation services?
Q: Are you able to open bank accounts?
Q: Is the incorporation fee refundable if I change my mind and no longer require the company?
Q: How often is your information updated on your system?
Q: In which jurisdictions is there a public register of directors?
Q: In which Jurisdictions is there a public register of shareholders?
Q: I really want to incorporate a company, but I do not know what jurisdiction to choose?
Q: Do you provide nominee shareholders and how much does it cost?
Q: I just want a bare incorporation, which jurisdictions would you suggest and what will I receive for this service.
Q: What do you mean by “bare incorporation service”
Q: Is it worth my/our while to become an affiliate if I/ we incorporate as the following is my requirement for incorporation 2, 6, 10, 50, 500, 1000
Q: What is co-branding and do you offer this service?
Q:
Can you provide a service similar to yours that I can utilise for my clients?
Q: What is the procedure to become a co-branding affiliate?
Q: Do you also provide non-online incorporation services? What are the different types?
Q: How does the non-online incorporation service work?
Q: What companies can I incorporate?
Q: What is the cheapest jurisdiction?
Q: Which jurisdiction is the least expensive per annum?
Q: What type of references do we/I need to supply to join the affiliate programme? If x,y,z is not possible will a different one suffice? Which?
Q: How secure is your site? How can you ensure no third party interference?
Q: How do I pay?
Q: How do I set up an account with you?
Q:
What does D.U.N.S. mean?
Q: What does it cost to become an affiliate?
Q: Can I just fax the references?
Q: What is “Optimal Allocation of Human Resources” as mentioned on your website.
Q: Do you offer Maritime services and in which jurisdictions?
Q: Where can I download the affiliate forms?
Q: Do I have become an Affiliate Member if I only wish to incorporate one company?
Q: I notice the prices from your system and your price list. There is a difference in these prices. What is the reason for this?
Q: Who are you main type of clients?
Q: Do you provide the use of registered office services in London?
Q: Do you have jurisdictions that enable one to incorporate on-line using the government site?
Q: As an affiliate will I benefit from a 15% discount at incorporation an annually thereafter?
Q: How does your on-line incorporation service improve things for me?
Q: How secure is your on-line system?
Q: Do I need to pay to obtain a password for your system?
Q: I wish to incorporate in Andorra. However, I am aware that the shareholder has to be Andorran? How can I as a foreign investor retain control and power of the company as a shareholder?
Q: Do I need to become an affiliate in order to obtain an account?
Q: I have 1000 companies to incorporate per annum what do you have to offer me as a corporate provider?
Q: What is the most expensive jurisdiction?
Q: I would like to advertise on your website, what are the fees/prices to advertise?
Q: What if I don’t have a “current Incorporation Provider”?
Q: What does “ad hoc” mean? I found this on the website under personal tax planning.
Q: What is an IBC Company?
Q: (I am not a professional qualified to give financial advices to clients/basically I have no clients, I want to incorporate for my own purposes). Do I have to fill out the Letter of Application?
Q: Can you explain to me the use of your Letter of Application?
Q: How do I proceed with this Letter of Application?
Q: What is the software I must have in order to download all documents necessary for due diligence?
Q: If I change my mind after giving all my details to your website, can I remove my information from your files?
Q: If I register as an Affiliate and after a while, the utilisation of your website does not justify the cost of the registration and annual fee, can I have a refund?
Q: I read your Privacy Statement. What is “my IP address”? (What does IP stand for?)
Q: Where is my personal information that I input into your computer being held?
Q: What is the advantage of my personal information being held offshore?
Q: Do I benefit from 15% discount at incorporation and annually thereafter?
Q: I wish to incorporate a company in BVI. But I also wish to be a resident in the BVI. Will I be able to obtain tax advantages accorded to IBC’s?
Q: In which jurisdictions do you offer IBC’s?
Q: When do you require the asssociateship documentation to be sent to you?
Q: Do I have to have a specific capital to incorporate in Switzerland, Bahamas…?
Q: In which jurisdiction do you offer the quickest incorporation service?
Q: Are all incorporation documents provided to me in English?
Q: What are your credit terms?
Q: How can a company be formed on-line?
Q: What would you recommend is the best jurisdiction to incorporate
Q: Can I have the information of the registered office as I feel that if we wish to change any officers, once I set up with the company I will need to notify the office?
Q: On the due diligence form you ask for Insurance, what do you speak about and why would I need this?
Q: Your website mentioned that being an affiliate you can be an “appropriately qualified professional”. What do you mean by this?
Q: What does your company do?
Q: How long does it take to incorporate?
Q: What are the advantages of becoming an Affiliate of EFS?
Q: What discount do you offer?
Q: Do you have affiliated offices?
Q: Has there been any recent changes in ??????? Jurisdiction?
Q: What advice do clients require before utilising your service?
Q: How do I get in contact with you?
Q: If you are based in London, can you legally incorporate a company in any jurisdiction?
Q: What is a SCI and what are the benefits of it’s use when buying French based property?
Q: What are the benefits of using a SCI for French based property?
Q: What are the Disadvantages of purchasing a French property through a SCI ?
Q: What are the SCI set up costs?
Q: What are the SCI running costs?
Q: How to manage corporate income received by a SCI?
Q: What is due diligence?
Q: Will the requirement to provide due diligence information prevent you from processing our order?
Q: Will you be able to issue me/us with a general Power of Attorney (POA)?
Answers:
Q: Where will the final corporate package be delivered?
A: The corporate package can be delivered to your chosen address. Please state this in all your orders.
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Q: If I incorporate a company in March 2007, when do I pay for the annual renewal of the Registered Office/ Registered Agent?
A: If you incorporate a company in March 2002 the annual renewal fee of the Registered Office and Registered Agent will be due to be paid by December 20th of 2002 for the year 2003. You will be billed for this at the end of November.
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Q: In which jurisdiction must the beneficial owner be disclosed to the authorities?
A: The beneficial owner must be disclosed in jurisdictions such as Jersey,
Bermuda
and Labuan and the Dutch Antilles.
Double click on the icon "Information" for all other jurisdictions in which the beneficial owner is disclosed to authorities and also jurisdictions in which the beneficial owner is not disclosed to the authorities. It is important to note that in some jurisdictions the beneficial owner is not disclosed to the authorities, but to banks and to Registered Agents. In the Bahamas
the beneficial owner is disclosed to the Registered Agent. In Switzerland the beneficial owner is to be disclosed to the bank for the opening of corporate bank accounts.
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Q: What is the average price for a director? Can you provide resident directors in all jurisdictions? How many directors do you provide?
A: Through its associate network, incorporateacompany.com may provide the services of directors or any other official corporate officer. The price per directorship is USD 400.00 per annum. We provide a board of directors that consists of 2 or more members on the board. It is important to note that this is the average price and may vary from jurisdiction to jurisdiction. In those countries where directors have residency requirements the price of a resident director is substantially higher. In jurisdictions such as Bermuda, Singapore and Isle of Man this is indeed the case. Where the jurisdiction allows for, we also offer corporate director services.
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Q: What is the average price for an incorporateacompany.com director?
A: The average price for our professional director is USD 400.00 per director per annum. We provide a board of directors that consists of 2 or more members on the board.
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Q: Do you offer any other services other than incorporation services?
A: Our forte is company formation with the latest up-to date economic and statutory information on jurisdictions and corporate entities. However, we do offer the following services:
Directorship is USD 400.00 but we provide a board of Directors for USD 800.00 per annum
Company Secretary is USD 400.00 per annum
Each Nominee Shareholder is USD 160.00 per annum.
Other services offered by incorporateacompany.com are Maritime Insurance Services ,Maritime Registration Services, Insurance Services and the formation of Trusts. If you wish to register a ship or yacht, or to obtain a quote for Maritime Vessel Insurance click on any the above services that you require
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Q: Are you able to open bank accounts?
A: The opening of a bank account is an additional service provided by incorporateacompany.com at a charge of USD 600.00. As standard company policy and procedure we provide a board of directors that consists of 2 or more members on the board for this service. The fee for a board of directors is USD 800.00 (USD 400.00 per director per annum). It is important to note that incorporateacompany.com professional directors will be responsible and liable for all the financial and legal activity within the company and can therefore not take a passive role, but have signatory authority.
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Q: Is the incorporation fee refundable if I change my mind and no longer require the company?
A: The incorporation fee (see price details in the incorporation section) is not refunded. We commence the incorporation immediately upon receipt of funds or receipt of the copy of the bank transfer. It will be up to the client to ensure that the paperwork sent to us is accurate, valid and sufficient to suffice due diligence requirements. In some jurisdictions paid up share capital requirements exist, or changes in legislation will require further information or submission of paperwork. The client is responsible to send this to the account specified when prompted. Non-payment will not result in a cancellation of the incorporation. If the company is no longer required the client has the following options:
1. Independent Sale of Company. Either at purchase price, discount or mark up to a person or company known by the client.
2. A sale organised by us. We can place the details of the company on our on-line Sales list at a mutually agreed mark up. The proceeds are shared 50/50. The client will be responsible for the upkeep and the annual governmental fees of the company throughout the sales period.
3. Receipt of a Voucher for the full incorporation price. This voucher can be used by the client or a person introduced by the client. In the later the funds can be deducted from the Voucher or the introduced party will have to make payment which can be transferred to a bank account of the Voucher holders choice or a Credit Card Refund may be instigated.
4. If for any reasons the incorporation price of the company or any other related governmental fees, annual renewals or licensing fees are not paid the company may revert into our ownership and sold to recoup the loss.
No other options are possible unless full board approval is sought.
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Q: How often is your information updated on your system?
A: Information on www.incorporateacompany.com is updated on a regular basis and immediately upon any changes in legislation that affect a corporate entity in a particular jurisdiction.
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Q: In which jurisdictions is there a public register of directors?
A: Jurisdictions such as Aruba , Bahamas , Cayman Islands , Costa Rica , Cyprus, Czech Republic,
Dutch Antilles, Hong Kong, Isle of Man, New Zealand, Panama, Puerto Rico and Singapore have a public register of directors. We can provide nominee directors at an average price of USD 400.00 per director per annum.
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Q: In which Jurisdictions is there a public register of shareholders?
A: Examples of jurisdictions in which there is a public register of shareholders are Costa Rica , Cyprus, Czech Republic, Hong Kong, Isle of Man, Jersey, New Zealand and Singapore. We can provide nominee shareholders at an average cost of USD 160.00
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Q: I really want to incorporate a company, but I do not know what jurisdiction to choose?
A: We recommend that you seek the advise of a qualified professional before you embark on an incorporation. incorporateacompany.com provides up-to-date economic and statutory information on jurisdictions. Click on the icon “Information” and see what each jurisdiction has to offer.
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Q: Do you provide nominee shareholders and how much does it cost?
A: If required we provide nominee shareholders at an average price of USD 160.00 per nominee shareholder per annum.
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Q: I just want a bare incorporation, which jurisdictions would you suggest and what will I receive for this service.
A: Examples of jurisdictions most suited for bare incorporations are British Virgin Islands, Seychelles, Belize, Dominica, Aruba, Anguilla, Niue, Antigua, Turks and Caicos and St. Vincent. A complete corporate package will be provided to you with a bare incorporation. As well as FedEx Courier Delivery, Registered Office and Registered Agent for one year, your corporate package will also include the following:
- Certificate of Incorporation
- Original Memorandum and Articles of Association
- Certified Copy of the Memorandum and Articles of Association
- Corporate Seal
- First Minutes
- Share Certificates
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Q: What do you mean by “bare incorporation service”
A: This means that we provide a complete package and one price that includes government fees for 2001, Registered Office/Registered Agent for one year, FedEx Courier Delivery and the following:
- Certificate of Incorporation
- Original Memorandum and Articles of Association
- Certified Copy of the Memorandum and Articles of Association
- Corporate Seal
- First Minutes
- Share Certificates
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Q: Is it worth my/our while to become an affiliate if I/ we incorporate as the following is my requirement for incorporation 2, 6, 10, 50, 500, 1000
A: It is definitely worthwhile to become an affiliate member.
As an affiliate member you will automatically benefit from a 15% discount of standard prices on all your incorporations. There after there are more substantial discounts for volume users as denoted in the following table:
| Number of Companies | EFS Discounts |
| Up to 1,000 | 15% off standard price |
| 1001 to 1700 | 17.5 % off standard price |
| 1701 and over | 20% off standard price |
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Q: What is co-branding and do you offer this service?
A: Co-branding is a service provided whereby we offer the use of our company formation website to Affiliate Members. The front page of the website is specifically developed and altered using the Affiliate Member’s corporate logos and colours. Taking into consideration the Affiliate Member’s individual needs and requirements a company formation website is therefore created that can be utilised by the Affiliate Member and his clients.
The Registration fee for the Co-branding is USD 4,500.00. The annual subscription fee is USD 500.00 and payable with the registration fee and annually thereafter.
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Q:
Can you provide a service similar to yours that I can utilise for my clients?
A: We provide a co-branding service, which can be utilised by affiliate members
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Q: What is the procedure to become a co-branding affiliate?
A: The initial procedure to become a co-branding affiliate is to register as an Affiliate Member. A binding contract taking into consideration both parties requirements and needs is concluded before the development of the website commences. The Registration fee for the Co-branding is USD 1,750.00. The annual subscription fee is USD 500.00 and payable with the registration fee and annually thereafter.
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Q: Do you also provide non-online incorporation services? What are the different types?
A: We incorporate via traditional methods such as fax, mail and telephone. It is important to note that original documentation will eventually have to be sent to us whatever method used for incorporation.
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Q: How does the non-online incorporation service work?
A: All Due Diligence documentation is sent at first instance (in order to expedite matters) via fax on +44- 870 486 5332 and then by post to the following address:
Electronic Financial Services Ltd.
10 Coptic Street
London
WC1A 1NH
All requirements are noted via phone, mail or fax and as soon as due diligence has been approved the company will be released for dispatch. The incorporation will be commenced after receipt of payment. The corporate packages can not be released untill we are in receipt of all original due diligence documentation.
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Q: What companies can I incorporate?
A: You can incorporate the following companies:
- International Business Companies (IBCs) in jurisdictions such as British Virgin Islands and Belize
- Limited Liability Companies (LLCs) in States such as Delaware and Wyoming
- Holding companies in jurisdictions such as Denmark and Luxembourg
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Q: What is the cheapest jurisdiction?
A: Our cheapest jurisdictions are New Zealand, Belize and the British Virgin Islands.
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Q: Which jurisdiction is the least expensive per annum?
A: The least expensive jurisdictions per annum that we offer are Belize and the British Virgin Islands.
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Q: What type of references do we/I need to supply to join the affiliate programme? If x,y,z is not possible will a different one suffice? Which?
A: To become an Affiliate Member a bank reference and a Lawyer’s reference is required. If it is not possible to obtain a Lawyer’s reference any professional reference will suffice, for example a reference from an accountant.
Other documentation required to become an affiliate Member are as follows:
- Certificate of Incorporation
- Proof of Address
- Proof of Licences held
- Proof of Indemnity Insurance
- Signed Letter of Application
- Completed Affiliateship Application Form
- Confirmation Letter of List of Signatories
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Q: How secure is your site? How can you ensure no third party interference?
A: Our website incorporateacompany.com uses the latest 128bit encryption technology for its security system (the first non-banking offshore website to do so.) This extremely high level encryption secures our data travelling over the Internet. We host our own server, therefore no third party is involved and that is another guarantee for security. Our data is transmitted and stored safely offshore. We ensure that we retain information on a country or jurisdiction which has strict legislation that supports the confidentiality of our affiliates’ information. Further more World Pay Plc process all credit card payments. Electronic Financial Services Limited has created a Privacy Statement that demonstrates that our firm is committed to privacy. The Privacy Statement discloses our information and dissemination practices for our website.
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Q: How do I pay?
A: We accept payment by all major credit cards (such as Visa, Master Card, AMEX), bank transfer, banker’s draft and cheque. Please note that if payment is made by cheque incorporation will only commence once funds are cleared.
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Q: How do I set up an account with you?
A: An account is automatically set up once you become an Affiliate Member.
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Q:
What does D.U.N.S. mean?
A: D.U.N.S stands for company registration number
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Q: What does it cost to become an affiliate?
A: The Registration fee to become an Affiliate is USD 75.00. The annual subscription fee is USD 250.00 payable with the registration fee and annually thereafter.
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Q: Can I just fax the references?
A: References can be faxed at first instance in order to expedite the incorporation process. However, it is important to note that all originals must be sent by post. Corporate packages will not be despatched unless we are in receipt of all origial due diligence documentation.
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Q: What is “Optimal Allocation of Human Resources” as mentioned on your website.
A: Optimal Allocation of Human Resources is the greater use of automation and the less need for manpower. This therefore means that Human Resources and manpower can be put to better use in other areas; increasing efficiency.
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Q: Do you offer Maritime services and in which jurisdictions?
A: We offer Maritime services. Our most popular jurisdictions are Panama and Singapore.
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Q: Where can I download the affiliate forms?
A: All Affiliate forms can be downloaded at www.incorporateacompany.com/docs.
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Q: Do I have become an Affiliate Member if I only wish to incorporate one company?
A: If you wish to incorporate one company you do not have to be as affiliate member. It is beneficial to become an affiliate member if you wish to incorporate five or more companies per year.
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Q: I notice the prices from your system and your price list. There is a difference in these prices. What is the reason for this?
A: Prices on our price list are inclusive of Registered Office and Registered Agent for the first year. Prices on the system (Fast Track) are inclusive of government fees, Registered Office and Registered Agent and FedEx Courier Delivery.
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Q: Who are you main type of clients?
A: The majority of our clients are qualified professionals such as accountants, lawyers, Trust Companies, Investment Advisors and Management consultants. However, we do also provide services to the general public.
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Q: Do you provide the use of registered office services in London?
A: We do provide the use of registered office services in London.
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Q: Do you have jurisdictions that enable one to incorporate on-line using the government site?
A: Using our website incorporateacompany.com you can incorporate on-line in over 60 jurisdictions.
We are connected to major government on-line incorporation websites such as Anguilla. Direct contact with these government sites can be costly. incorporateacompany.com has made it easier and cost effective for you by providing an on-line system that is connected to major government sites.
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Q: As an affiliate will I benefit from a 15% discount at incorporation an annually thereafter?
A: As an affiliate of Electronic Financial Services Ltd you will benefit from a 15% discount on all your incorporations and annually thereafter.
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Q: How does your on-line incorporation service improve things for me?
A: Our on-line incorporation service is specifically designed for you. Our forte is automation, simplicity and quality. incorporateacompany.com is a dynamic, touch of a button website that enables you to incorporate all over the globe from a selection of over 60 jurisdictions. Our automation increases efficiency and reduces workload enabling optimal allocation of human resources.
Our on-line incorporation service will provide you with the following with a touch of a button.
- Fast and efficient company formation
- Fully transparent unbeatable prices with no hidden extra costs
- Guaranteed and secured security
- Full corporate package delivered to your desk
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Q: How secure is your on-line system?
A: Our on-line system is highly secure as we utilise 128bits SSL technology in order to encrypt all data travelling over the Internet. Additionally, all data is safely transmitted and stored offshore where the legislation strongly supports confidentiality of our affiliates’ information. All credit card payments are processed by our partner, World Pay Plc. Finally, we guarantee no involvement of any third party by hosting our own server
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Q: Do I need to pay to obtain a password for your system?
A: A password is not a prerequisite to use our system. End-users (Single users) can utilise our system for company formation service without a password.
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Q: I wish to incorporate in Andorra. However, I am aware that the shareholder has to be Andorran? How can I as a foreign investor retain control and power of the company as a shareholder?
A: As a foreign investor who wishes to retain control and power of your company a Usufruct Contract is drafted. This allows the transfer of the Andorran Shareholders power back to the Offshore Investor to enable the Offshore Investor full control of the company incorporated. Therefore, using the Usufruct contract the offshore investor is the owner of the company and not the Andorran Shareholder.
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Q: Do I need to become an affiliate in order to obtain an account?
A: An account is only set up for affiliate members. An account is automatically set up for you after your first incorporation. You will obtain 20 days credit facility.
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Q: I have 1000 companies to incorporate per annum what do you have to offer me as a corporate provider?
A: As a corporate provider who has 1000 companies to incorporate per annum we can offer you the most unbeatable prices within the market. It will be beneficial for you to become an Affiliate Member and utilise our co-branding service, as you will obtain further discounts as denoted in the following table:
| Number of Companies | EFS Discounts |
| Up to 1,000 | 15% of standard price |
| 1001 to 1700 | 17.5 % of standard price |
| 1701 and over | 20% of standard price |
The Registration fee for the Co-branding is USD 4,500. The annual subscription is USD500 and payable with the registration fee and annually thereafter.
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Q: What is the most expensive jurisdiction?
A: The most expensive jurisdiction that we offer is Bermuda with a government fee of
US$ 2,080.00
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Q: I would like to advertise on your website, what are the fees/prices to advertise?
A: We offer very competitive advertising rates to interested parties. However it depends on what exactly you would like to advertise and for how long. For more information on this service contact the Marketing Services Department on +44-208-405-7100.
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Q: What if I don’t have a “current Incorporation Provider”?
A: Electronic Financial Services Ltd is a renown and reputable corporate provider that caters for your individual needs and requirements. One does not have to have a current Incorporation provider to utilise our service or to become an affiliate member. On the Affiliateship Application form it is sufficient to fill in “Non Applicable”
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Q: What does “ad hoc” mean? I found this on the website under personal tax planning.
A: To do things in an ad hoc manner means to do something with no precedent. There is no structure and pattern to it.
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Q: What is an IBC Company?
A: An IBC is an international Business Company, designed to provide maximum privacy and is not subject to local taxation. This type of company is owned by non-residents and is not permitted to trade within the jurisdiction where it is incorporated.
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Q: (I am not a professional qualified to give financial advices to clients/basically I have no clients, I want to incorporate for my own purposes). Do I have to fill out the Letter of Application?
A: A Letter of Application is not required if you do not wish to become an Affiliate Member. It is geared towards affiliates and not end-users (single users). You therefore do not need to fill in the Letter of Application if you wish to incorporate for your own purposes
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Q: Can you explain to me the use of your Letter of Application?
A: The Letter of Application is only applicable to affiliates. It indicates that our affiliates will
carry out due diligence procedures on all their clients prior the utilisation of our services. By singing and printing the Letter of Application on their letter headed paper we transfer the Chain of Responsibility to them to carry out due diligence on their clients as accredited professionals.
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Q: How do I proceed with this Letter of Application?
A: It is to be printed on your letter headed paper and signed confirming that due diligence will be carried out. It can be downloaded at www.incorporateacompany.com/docs. The Letter of Application can be faxed (+44 1534 605 905) at first instance to operate due diligence as expediently as possible and sent by post.
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Q: What is the software I must have in order to download all documents necessary for due diligence?
A: Acrobat Reader is sufficient to enable you to download all necessary forms for due diligence.
However, if you do not have Acrobat Reader this software may be downloaded from our website.
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Q: If I change my mind after giving all my details to your website, can I remove my information from your files?
A: Upon request and written confirmation, we will remove your information from our website. You cannot remove information from your files by yourself.
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Q: If I register as an Affiliate and after a while, the utilisation of your website does not justify the cost of the registration and annual fee, can I have a refund?
A: It is important to note that registration fee is non-refundable. As you can appreciate all work to register you as an affiliate would have been carried out already. We are however, able to refund the annual fee if you change you mind before incorporation commence.
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Q: I read your Privacy Statement. What is “my IP address”? (What does IP stand for?)
A: IP stands for Information Protocol. We use your IP address to gather broad demographic information.
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Q: Where is my personal information that I input into your computer being held?
A: All personal information on clients is held offshore in order to maximise security.
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Q: What is the advantage of my personal information being held offshore?
A: So that personal confidential information is only retained in a country or jurisdiction which enjoys strict legislation that supports client confidentiality.
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Q: Do I benefit from 15% discount at incorporation and annually thereafter?
A: Yes, as part of our affiliate network, you benefit from 15% discount at incorporation (on all your incorporations) and annually thereafter
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Q: I wish to incorporate a company in BVI. But I also wish to be a resident in the BVI. Will I be able to obtain tax advantages accorded to IBC’s?
A: In order to obtain tax advantages accorded to an IBC, it must be owned by a non-resident of the British Virgin Islands (BVI). It is possible to incorporate an IBC in the BVI and take advantage of the tax exemptions accorded to it by the utilisation of nominee shareholders.
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Q: In which jurisdictions do you offer IBC’s?
A: Our website www.incorporateacompany.com uses the latest 128bit encryption technology for its security system (the first non-banking offshore website to do so.) This extremely high level encryption secures our data travelling over the Internet. We host our own server, therefore no third party is involved and that is another guarantee for security. Our data is transmitted and stored safely offshore. We ensure that we retain information on a country or jurisdiction which has strict legislation that supports the confidentiality of our affiliates’ information. Further more World Pay Plc process all credit card payments. Electronic Financial Services Limited has created a Privacy Statement that demonstrates that our firm is committed to privacy. The Privacy Statement discloses our information and dissemination practices for our website.
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Q: When do you require the asssociateship documentation to be sent to you?
A: All original asssociateship documentation should be sent to us as soon as possible.
However, in order to expedite due diligence procedures documentation may be faxed at first instance.
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Q: Do I have to have a specific capital to incorporate in Switzerland, Bahamas…?
A: It is important to note that every jurisdiction has different requirements. Jurisdictions such as the Bahamas, Belize, BVI have no restrictions on share capital. In some other jurisdictions
Such as Switzerland 50% of the share capital has to be paid up at incorporation. For example, a Corporation (AG) CHF 100,000.00 has to be paid up and for a Limited Liability Company (GmbH) CHF 10,000.00 has to be paid up at incorporation.
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Q: In which jurisdiction do you offer the quickest incorporation service?
A: In the majority of the jurisdictions such as the Bahamas, St. Lucia, Marshall Islands and many more after due diligence approval and name approval incorporation can be carried out within 24 hours.
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Q: Are all incorporation documents provided to me in English?
A: Most jurisdictions incorporation documents are permitted to be in English. However, it is important to note that we provide all incorporation documents in the language that they are legally bound to be in the jurisdiction of incorporation. They may be in English, Arabic, German, Spanish and Greek. Translation of these documents is provided upon request
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Q: What are your credit terms?
A: All affiliate members are given twenty days credit facility on their accounts after their first incorporation.
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Q: How can a company be formed on-line?
A: Utilising www.incorporateacompany.com one is able to go through an incorporation process by filling in step by step all necessary details (such as the directors, secretary details). This information is then collated on the system and sent to the relevant Registry authorities in the jurisdiction/s of choice to form the corporate entity.
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Q: What would you recommend is the best jurisdiction to incorporate
A: We do not wish to demonstrate favouring one jurisdiction over another. We provide information on jurisdictions and corporate entities, please check your exact requirements in our website under “Information”. If you are unsure of what to do or require, we strongly suggest to seek advise from a professional advisor.
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Q: Can I have the information of the registered office as I feel that if we wish to change any officers, once I set up with the company I will need to notify the office?
A: In order to keep costs and disbursements down we streamline our services and thus the processing centre is centralised here. Direct contact will be charged on a time-spent basis at approximately £150 per hour. However, of course you shall be furnished with the registered office address and any other information you may require.
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Q: On the due diligence form you ask for Insurance, what do you speak about and why would I need this?
A: This is Professional Indemnity Insurance. It indemnifies your company for any liability that may occur during the course of your business dealings with your clients. Insurers tend to ensure that competency requirements in the assured company are maintained. The knowledge of such insurance being in place indicates less time required for some of the due diligence.
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Q: Your website mentioned that being an affiliate you can be an “appropriately qualified professional”. What do you mean by this?
A: This means that an affiliate has to have the professional capacity and knowledge to give advice to clients on their individual needs and requirements.
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Q: What does your company do?
A: Our forte is on-line incorporations this being the major reason for being able to offer incorporations at such a low cost. However, we do also incorporate via traditional methods- fax/mail and telephone. Please note, original documentation will eventually have to be sent to us whatever the method of incorporation used.
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Q: How long does it take to incorporate?
A: Depending on the jurisdictions chosen the incorporation process may take a few hours to a couple of days. Many jurisdictions offer immediate or same day incorporations. However, we will only commence the incorporation process upon receipt of full payment. The corporate package will only be released upon receipt of the approved original due diligence information. In the case of affiliates the appropriate due diligence waiver has to be in place.
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Q: What are the advantages of becoming an Affiliate of EFS?
A: - Discounts
- Registered Affiliate so well known by the system
- Only Due Diligence complete once
- Special Password and entry into the system
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Q: What discount do you offer?
A: End-users are not accorded discounts off the standard prices. All affiliates obtain a 15% discount off the standard prices on all incorporations. Further discounts are given to volume users and are denoted in the following table:
| Number of Companies | EFS Discounts |
| Up to 1,000 | 15% off standard price |
| 1001 to 1700 | 17.5 % off standard price |
| 1701 and over | 20% off standard price
|
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Q: Do you have affiliated offices?
A: We have affiliated offices worldwide, such as Jersey, Hong Kong and many more.
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Q: Has there been any recent changes in ??????? Jurisdiction?
A: Our website is updated on a regular basis. Any recent changes will be affected immediately upon confirmation from the relevant authorities.
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Q: What advice do clients require before utilising your service?
A: We recommend that you seek the advise of a qualified professional before utilising our service in order to have full knowledge of your requirements, needs, liabilities and responsibilities
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Q: How do I get in contact with you?
A: You can get in contact via e-mail at info@e-f-s.net. Alternative means are telephone +44 208 405 7100 or fax +44 208 405 7110.
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Q: If you are based in London, can you legally incorporate a company in any jurisdiction?
A: Our company is licensed to carry out company formation. We are based in London, but can carry out incorporations worldwide.
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Q: What is a SCI and what are the benefits of it’s use when buying French based property?
A: One of the companies we may assist you with is the French registered company Société Civile Immobilière (SCI). This form of company is a very popular holding vehicle for French residents, as well as foreign resident persons to hold their French property in.A SCI is essentially a fully incorporated French company with a registered office in France. For convenience purposes and to save costs it is possible to locate the registered office at the address of the property you are intending to acquire. You may also retain a registered office facility with us. The SCI then owns the property in question. The reason why this is done is to avoid the rather expensive French foreign held annual property tax. By holding it via a French vehicle the annual property tax does not apply. Being a company, the SCI is itself owned by shareholders, in most cases, yourself, family members or indeed an offshore, onshore trust or company anywhere in the world. It is also possible for the shares in the SCI to be held directly in person. If you do this you need to check whether there is any double taxation treaty between France and the country of your tax residency. Usually there is a tax disadvantage in holding shares directly and we strongly recommend you seek specialist advise prior to creating an SCI.
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Q: What are the benefits of using a SCI for French based property?
A: 1. The use of a SCI circumvents the requirements of France's Napoleonic Civil law. Under French law the home owners death will result in the property being divided up between the surviving spouse and any children. It is therefore not possible for one spouse to secure the entire part of a family home on the other upon death. She shares of the SCI (owner of the property) can be endowed to the surviving spouse. However, using an SCI and its shareholder status means that the parents can appoint themselves as majority shareholders, thus ensuring that the controlling share remains in the hands of the parent, and any decision regarding the property belongs to the partner of the deceased. 2. Foreign owned property legislations and disadvantageous consequences such as the annual 3 % annual tax liability due to foreign ownership are negated. The SCI is a French entity, even if the owners of the entity are foreigners. 3. Succession Planning. Shares in the SCI are easier to distribute than immovable property, and so managing inheritance, and transferring the property, is simplified. 4. Stamp duty. The shares in the SCI can be easily disposed of. It is not necessary to engage the assistance of a notary. A transfer of one’s shareholding results in effectively selling the property. No property transfer stamp duty becomes due4. Tax planning. When using an SCI to buy a property, the net worth of the property can be reduced for tax purposes by way of debt. This can minimise French wealth tax and inheritance tax liability.5. Where foreign residents are concerned, the use of an SCI can be a great advantage for people whose home inheritance laws are more complementary to their requirements than French laws. Upon death, the applicable law is normally the one of the country where the property is located. However, if the property is owned through an SCI, then the applicable law will be the one of the last country of residence of the deceased. Owning a home in France via an SCI means that the French property becomes part of the estate of their country, as opposed to direct ownership of immovable property, which is subject to estate law in France.
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Q: What are the Disadvantages of purchasing a French property through a SCI ?
A: A SCI is a company which has obligations under the law. The company has to remain in good standing at all times and its statutory affairs must be properly managed. 1. Maintaining a company will incur expenses.2. The purchaser will have to pay notary fees, registration fees as well as the company running costs.
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Q: What are the SCI set up costs?
A: Establishment and registration costs. The drafting of the SCI legal documentation and the filing thereof cost Euo 4,500.00 (£ 2,800.00)
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Q: What are the SCI running costs?
A: 1. Bookkeeping and preparation of company's annual accounts. Maintaining the company in good standing. It is advisable that you let us do this for you or for you to engage the assistance of a locally-based professional who will ensure that you are receiving the most relevant and current information regarding legislation. A French SCI is obliged to maintain its accounting records in French, based on the French Tax Code. This means following the French accounting standards.If you choose us to run your books (for simple property holding only) we charge Euro 800 (£500) per annum.2. Maintain statutory records in a legal register and keep regular records. 3. Hold an annual general meeting of the members to approve the accounts. 4. We look after all of the SCI statutory requirements (point 1-3) for an annual charge of Euro 3,300.00If the above is not done diligently and in accordance to French law the SCI could be considered to be non-existent with the resultant tax consequences. It is important to understand that an SCI is a "natural person" and by not filing annual tax returns one can be assessed for a 3% tax on the market value of the property annually.
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Q: How to manage corporate income received by a SCI?
A: When furnished property owned by an SCI is rented out, it is considered a location meublée. The French tax authorities deem this to be on par with general business activity. As if the property were owned by any other type of French company, the relevant corporation taxes are imposed.This becomes complicated when the owner of the SCI wishes to cease the rental activity. This is viewed as a change in activity and thus generates an automatic capital gain taxation to which the relative corporate taxes are imposed.
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Q: What is due diligence?
A: Due diligence is a monitoring and controls process we follow at EFS so that we know our customers with whom we are dealing. Adequate due diligence on new and existing customers is a key part of these controls. Without this due diligence, we could become subject to reputational, operational and legal risks, which can result in significant financial cost. The Basel Committee defines appropriate due diligence as “to know your client” (KYC) and your client’s affairs. The objective of KYC is most closely associated with the fight against money-laundering and international terrorism.
I keeping with our due diligence procedure we require all of our clients to provide us with the following original documentation:
Certified Passport Copy
Proof of Address
Bank Reference
Professional reference
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Q: Will the requirement to provide due diligence information prevent you from processing our order?
A: You will be asked to fax us your due diligence documentation when you place an order with us. Our due diligence department will check and approve your faxed due diligence. If it is approved the company order shall be completed and you will be asked to send the original due diligence by mail or courier. Upon receipt of the originals the company will be released. Usually this process happens simultaneously and there should be no delays in processing your order.
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Q: Will you be able to issue me/us with a general Power of Attorney (POA)?
A: With the introduction of international money laundering standards and the subsequent cancelation of the concept of a nominee director we can no longer permit the use of infinite and general Powers or Attorneys (POA), since a company administered by us may be used for criminal and fraudulous activities without our knowledge. Bearing in mind that we carry full responsibility for the economic and legal activities of the companies administered by us, the issuing of such POAs is not permissable. However, it is possible to grant POAs for specific commercial transactions within a certain time frame.
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Company Incorporation
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