OLIESERVE can assist you in company incorporation, company formation and company registration. We can help to form all types of legal entities including Limited companies. We operate in a variety of jurisdictions such as: Cyprus, UK, Dubai, Hong Kong, Singapore, China, Japan, Luxembourg, Gibraltar, Malta, Belize, BVI, Seychelles, Commonwealth of Dominica, Panama, Ras al-Khaimah, Czech Republic
, and many more.
Please contact our staff for more information on the types of legal bodies available in each jurisdiction and their benefits.
The corporate secretary should have a strong business knowledge and is the one who is legally obliged to make sure that the company follows all the procedures and regulations established in the jurisdiction. It is important not to underestimate the role of the secretary in your company, especially if you are not physically present in the jurisdiction of your company. The laws and regulations are frequently changing in the present world, and it is vital to always be up-to-date with them. Otherwise, there is a high risk of suffering high penalties and fines, and even court summons in some jurisdictions. It is mandatory in some jurisdictions to have an appointment of a corporate secretary for legal bodies. Others leave this choice up to you. OLIESERVE recommends appointing a secretary either way. We can offer you either the standard secretarial service, with appointment of our secretary, or consult you on secretarial matters on a monthly basis, should you wish to keep your own secretary.
One may require nominee directorship or shareholding services. The reasons for this could be anything from confidentiality to efficiency of tax planning. OLIESERVE provides a variety of nominee services from corporate nominees, to individual international nominees. We also prepare indemnity agreements to cover your rights. However, please be aware that regardless of the existence of such agreements, no country in the world officially acknowledges the term ‘nominee’. Thus, any director that is stated in the company documents is considered as the real director by the authorities of that country where the company incorporation took place. If you chose to use the ‘mass’ nominee director, i.e a nominee that represents multiple companies, you should note that although you have no control over those other companies; should they be involved in suspicious or illegal activities which culminate in any kind of legal case, you and your company will attract the unnecessary attention of the authorities as an associated company, having the same director. This circumstance creates undeniable responsibilities for the nominee director. The director is the one who is legally liable for all the company activities. Therefore, he should be fully aware of such. If you choose to use the nominee services, please be prepared to provide full information on the company activities on daily basis. The nominee director may require including him as the addition signatory on your bank account.
Registered and virtual office services
A registered office is required in the majority of jurisdictions. It is the address where all the company documents and records are kept, available for inspections by authorities at any time. It is also the address to which all the official mail is sent, e.g. tax forms and enquiries, etc. Virtual office is an extra service, which is not mandatory for most jurisdictions. However, vital for efficient tax planning. The address where your virtual office is located is the place of your company’s management and control, for most, simple cases. If the country of your actual residence or the jurisdiction of your company uses the principle of ‘management and control’ in identifying the tax residency, i.e. the place where you pay taxes, it might be a good idea for you to consider using the virtual office service for your business. OLIESERVE can offer you registered office services in all the available for incorporation jurisdictions, as well the various types of virtual office services (from simple telephone line, to actual work desk, available for your use).
Mail address is not a mandatory service in most jurisdictions. Nevertheless, one may choose to consider using this service for tax benefits, confidentiality purposes, or simply by choosing to outsource filing. OLIESERVE provides mailing services for its customers, which include receiving, scanning, emailing and safe filing of your mail, available for your collection at any time.
Bank account opening services
OLIESERVE cooperates with various banks all over the world,
such as HSBC, Emirates NBD, Noor bank, OCBC, Meinl, and many more. Contact us directly to receive the information on the bank of your choice. Please be aware that all the trustworthy, well-respected banks, with no risky investments, will have high requirements for the corporate account opening with them. You should be prepared to meet such requirements, as the physical presence at the bank premises for an interview and signing of bank forms. We recommend to consider the bank’s financial position and liquidity when choosing your bank, instead of the complexity of its due diligence and compliance. Please take as a rule, that the easier the corporate account opening procedure is, the more at risk are your funds.
Trade Mark registration services
In the current highly competitive environment, it is important to have everything covered, including your company’s image. Registration of your Trade Mark is good protection
of the image and reputation of your business, in which you have, or are planning to invest a lot of time and money. OLIESERVE offers Trade Mark registration in the jurisdiction of your business’ residence and in other jurisdiction of your choice through WIPO system.
Registration of the company and its employees with Tax Authorities and other relevant governmental bodies
Once company registration in the jurisdiction of your choice has completed, you will be required to be registered with the Inland Revenue Department, in order to be able to submit tax forms in the future. Depending on the jurisdiction of your company and that of others you are dealing with, you may need to register with VAT and VIES and EORI
. A VAT number is only applicable for companies wishing to operate within an EU country, if such a company wishes to trade with another EU member state, the company will also be required to register with VIES, should the company be importing goods into an EU country it may need to register with EORI. OLIESERVE handles the registrations of our corporate clients with all of the above stated bodies. Depending on the particulars of your activity, we can also advise you on any other required registrations, such as CYSEC
Book-keeping and accounting services
Nowadays, almost all jurisdictions require companies to keep book-keeping records of its activities, even so called offshores. All the reputable jurisdictions, however, require not only the book-keeping to be done, but also the financial statements (either audited or unaudited) to be prepared in accordance to special standards. If you do not have time or necessary accounting knowledge for proper record keeping, you should consider outsourcing this function to a specializing firm. You also have an option to keep the book-keeping records yourself, as tidy as possible, and forward them for accounting at a later stage, which can save you a penny. OLIESERVE can offer you both options. We specialize in the accounting in accordance to IFRS, SFRS and HKFRS. We can also offer you translation of your accounts from one standard to another, including Russian Financial Reporting Standards.
VAT and VIES reporting services
Once a company is registered with the VAT authorities it is required to report on quarterly basis, i.e. submit its accounting records to the VAT authorities for inspection, and also pay the collected VAT (if applicable). VIES reporting is done on a monthly basis, only on sales to EU countries. OLIESERVE can offer our clients either the full package of VAT and VIES reports preparation and reporting, or just the reporting service, should you wish to handle the book-keeping personally.
Audit and tax agent services
An audit is the careful inspection of the accounting records of the company, reconciliation of existing balances with the banks, debtors and creditors. Audit can only be carried out by a licensed auditor. If the company falls under the requirements for mandatory submission of audited financial statements, it would be required for such companies to appoint the auditor as soon as possible after incorporation and every following year during the annual general meeting. Well-established businesses may consider appointing more well-known and respectable auditors to check their accounts, such as KPMG and Moore Stephens. This will contribute to the building of your image among existing and potential partners. It may also improve your D&B rankings.
Active companies with employees may require registration with the Social Insurance and individual registration of its employees with the Social Insurance and Inland Revenue Department. PAYROLL is the calculation of the contributions from employee’s salaries done by both the employer and the employee. Such calculations need to be done on monthly basis and reported to the relevant bodies. OLIESERVE can offer you both monthly calculations of salaries, and their reporting.
HR services (available for Cyprus only)
Clients wishing to establish a business in Cyprus may not always know where to search for the right people to fill their vacancies. OLIESERVE offers our clients the full HR and market research package. We can consult you on the market salary rates for your available positions. Should you wish to bring the employee from abroad, either EU or non-EU, we are just the right people to assist you with the immigration matters. HR management service is also available at your request.
Office rental services (available for Cyprus only)
It is not always easy to orient yourself in a new market. If you are a non-Cyprus resident and planning to expand your business to Cyprus, or establish a completely new business here, it would be a good idea to do property market research by using an independent company with the local exposure. It will not be easy to find an independent local company here, since almost everyone is related in Cyprus. However, you should at least try to obtain a number of opinions before choosing the property. Now the property prices are decreasing and you can find a variety of options at bargain prices. OLIESERVE can assist you with both the general market research, as well as finding the ideal property for your needs.