The core of Minerva’s work is the secure administration of assets on behalf of our clients and generally those assets will be owned by a company. It may be called a holding company, special purpose vehicle, cell company, GBC1, listing vehicle etc however it will be a company and as such possess its own legal personality.

Minerva administers offshore and onshore companies incorporated in many jurisdictions around the world. The preferred domicile of the company is principally determined by evaluating which jurisdiction provides for the most effective and secure administration of the underlying assets.

Factors relevant to such an evaluation will include:

  • Is leverage required, some lenders have restrictions around the borrowers’ place of incorporation
  • Does access to a tax treaty dictate the company’s place on incorporation
  • Acceptability by counterparties such as trading partners or financial institutions
  • Does company law and/or regulation around a particular activity favour one jurisdiction over another
  • Restrictions around asset classes (such as Land) being owned by offshore companies

We are skilled in selecting the right jurisdiction and where Minerva does not have an office our experience ensures we engage the most appropriate agent from our network of professional contacts.

In general, offshore company law is more simple and provides greater flexibility than onshore and this manifests itself in:

  • Ability to redomicile, so preserving corporate history such as tax losses
  • Specimen Articles of Association being less prescriptive
  • There being no general requirement to audit accounts
  • The manner in which capital and dividends can be returned to shareholders
  • The transferability of the place of administration of (particularly) BVI companies

…added to which there may be a greater degree of privacy than exists onshore where more information is available through publicly accessible registers.

Minerva provides the following services to companies under its administration:

  • Incorporation
  • Registered office and agent services
  • Corporate directors and company secretary
  • Nominee shareholders
  • Full administration
  • Continuance of good standing
  • Accounting, bookkeeping & financial reporting
  • Preservation of offshore management and control

…and these elements may prove essential when a company or its assets are being sold and the buyer wants evidence of independent professional management or warranties are required.

 

“I have to thank you for all your assistance. I am personally very grateful to you and I only wish I had been in touch with you earlier. ”

Private client, Dubai