CIL Group Ltd

For Company Incorporation:

•  A completed and signed IBC Due Diligence Form for all beneficial owners and/ or directors which is available from us
• A completed and signed IBC Questionnaire which is available from us – please choose three alternative names for your IBC. The Registrar will usually allocate your first choice
• A notarized copy of a utility bill or similar document confirming the physical address for all beneficial owners and/or directors (PO Box addresses are not accepted)
• recent Bank Reference Letter for all beneficial
• A recent Bank Reference Letter for all beneficial owners and /or directors
• notarized copy of passport or other valid ID
• A notarized copy of passport or other valid ID (photo and signature) for all beneficial owners and / or directors

For Bank account opening:

• A business plan or description of the nature of the proposed business activity of the IBC, signed by the Director(s)
• A Resolution of Board of Directors of the IBC authorizing opening of the account
• A secret password, maximum 10 Latin characters, on paper in a closed envelope, for your future identification
• One completed and signed Loyal Bank Corporate Account Application Form
• Two copies of completed and signed Loyal Bank Corporate Account Contract
• Due diligence documents (notarized ID copy, copy of a utility bill or a bank sttement, bank reference) for additional authorized person(s), if any, if not already provided for the IBC registration

ST. VINCENT AND THE GRENADINES

The Grenadines are a group of tropical islands scattered down the Eastern Caribbean from St. Vincent in the north to Grenada in the south, approximately 1,600 miles southeast of Miami and 100 miles west of Barbados. This island chain is part of the larger Eastern Antilles chain of islands and was formerly known as the Leeward and Windward Islands.

Saint Vincent and the Grenadines is an independent and non-aligned nation comprising the island of St. Vincent and the Grenadine islands stretching south including Bequia, Canouan and Mustique but not including Granada which is a separate state. It is a full member of the British Commonwealth, the United Nations, the Organization of American States, the International Labor Organization, CARICOM, and the Organization of Eastern Caribbean States. The official language is English and the legal system follows British Common Law practice.

In 1996 the government of St. Vincent and the Grenadines created a new International Financial Services Authority and enacted a set of laws that not only reflect the best elements of modern offshore legislation, but also accept the reality of today's information technology, in order to encourage the growth of an international banking sector. There are up-to-date laws governing International Business Companies, International Banks and International Trusts, as well as a law ensuring proper preservation of confidential relationships in financial services. For the international client, whether corporate or private, St.Vincent offers a secure and modern environment in which to do business.


DOUBLE TAXATION TREATIE

St. Vincent and the Grenadines has no Double Taxation Treaties with other countries and it is currently not obliged to automatically exchange tax information with any other government. Under the CARICOM tax treaty business activities carried in other CARICOM countries by a St. Vincent IBC can be tax-free in the country of operation and subject only to a 1% tax on profits in St. Vincent.

ADVANTAGES OF A ST. VINCENT AND GRENADINES IBC

• All certificates, seals and resolutions are optionally available for your IBC.
• An IBC may be administered from any place in the world and its books, records and seal may be kept outside of St. Vincent and the Grenadines.
• An IBC may have bearer shares.
• An IBC only needs one director, who may be an individual or a corporation.
• IBC's are exempt from tax and stamp duties for twenty years from incorporation.
• IBC's may issue shares with qualifications rights, privileges, limitations and restrictions and in one or more currencies.
• Limited liability of shareholders.
• No annual external audit is required for an IBC in St. Vincent and the Grenadines and financial statements are not required to be published.
• No fixed limit on the amount of authorized capital subject to a minimum of USD 1.00.
• No foreign exchange controls are imposed upon IBC's.
• No investment restrictions except that an IBC currently cannot purchase real property in St. Vincent and the Grenadines.
• No restrictions on borrowing or distribution of dividends except those provided in the Articles of Incorporation.
• No restrictions on percentage or ownership of shares.
• Non-resident IBC shareholders are exempt from all income taxes, capital gains taxes and corporate taxes in St. Vincent and the Grenadines.
• Share capital may be expressed in any currency although usually the US Dollar is used.
• The IBC shareholder’s register is confidential and not open to the public.
• The names of directors, officers and shareholders are not disclosed on any public register.
• The right to maintain offices or branches or a physical presence in any form whatsoever in any country in the world.