|
Continued...
The normal fiscal year for companies declaring taxes in goes from January 1 to December 31 of each year; filings can usually be made until the end of March of the following year. A different fiscal year can be authorized for companies that are fully owned or related to foreign entities that have a different term in their countries of registration.
It is important to conclude that the choice of corporate structure must ideally be made at the time the investment or business project is being created. This decision will have a major impact and specific consequences on the implementation of said project and if taken wisely, it will be one of the foundations for its success.
Incorporation Procedure
It is not necessary that the client comes our offices for this purpose. The usual procedure is that Business Group, acting according to the information furnished by the client in the Incorporation Form sent by Fax or Email, will organize the corporation using standard articles of incorporation. For , normally within 10-15 days thereafter, all the pertinent documents will be sent by courier to the address provided by the client, unless we are instructed otherwise. For immediate delivery, we also have Shelf or Ready Made Companies.
By-Laws
A corporation may adopt by-laws for the regulation of its internal affairs and procedures, but it is not compulsory. Should by-laws be in fact adopted, however, it is not compulsory that they be registered, but if they are registered, any amendments thereof must also be registered. By-laws may be adopted either by resolution of the shareholders or by resolution of the Board of Directors. Consequently, the by-laws may be amended by the corporate body which initially adopted them.
General Power of Attorney
The Board of Directors may grant a general power of attorney to any person, whether or not connected with the corporation. When said power of attorney is granted to be used abroad, it is possible not to register said power of attorney to maintain the confidentiality.
Resident Agent
By law every corporation must have resident or registered agent. Our fee for acting as resident agent is satisfactory. However, the first year of the resident agent’s fee is also included in the cost of incorporation.
Annual Company Tax
Every nian corporation has to pay an annual tax, imposed by law. The law requires corporations to pay said amount in order to remain in good standing. Good standing is taken to mean valid registration at the Public Registry of .
| 
