WHAT IS AN IBC?
IBC stands for International Business Company and is a legal entity whose beneficial ownership and business activities lie outside the country of incorporation, thus is also commonly referred to as an ‘offshore’ company.
Incorporating an IBC as a vehicle for corporate or private business allows for tax planning and asset protection. Owners are able to operate confidentially without the mandatory reporting requirements of traditional ‘onshore’ companies.
WHAT DOES A CORPORATE SEARCH REVEAL?
A corporate search requested by a third party unrelated to the company will be provided the name of the company, the date of incorporation, the registration number, and the name and address of the Registered Agent of the company.
WHAT ABOUT OWNER’S CONFIDENTIALITY?
All information and documents submitted in relation to or in connection with the incorporation of the Tuvalu IBC are kept strictly confidential by the Registry. The Registry is under no obligation to disclose or provide access to the information and documents to any person save as required by a court of competent jurisdiction.
WHAT IS THE STANDARD AUTHORISED SHARE CAPITAL?
The authorised share capital of a company is the maximum amount of share capital that the company is authorised to issue to its shareholders based on its Memorandum of Association.
The adopted standard authorised share capital for Tuvalu IBC is USD10,000. However, the amount of the authorised share capital can be increased in excess of the sum of USD10,000 by the simple process of a Board’s resolution to increase the same.
WHO ACTS AS REGISTERED AGENT IN THE TUVALU?
The Registered Agent for non-resident Tuvalu corporations is TV REGISTRATION SERVICES INC (TRSI).
DOES TRSI PROVIDE CORPORATE SECRETARIAL SERVICES?
TRSI does not provide secretarial services. However, Tuvalu International Companies Registry Pte Ltd (TICR), a Singapore incorporated company operating out of Singapore does provide corporate secretarial services. TICR is the appointed Administrator and Deputy Registrar of the Tuvalu International Companies Registry.
HOW MANY DIRECTORS ARE REQUIRED?
At least one (1) director is required for a Tuvalu IBC.
HOW MANY SHAREHOLDERS ARE REQUIRED?
At least one (1) shareholder is required for a Tuvalu IBC.
The information provided in this FAQ is intended as a general commercial introduction to the Tuvalu International Companies Registry. The information provided may not be exhaustive and may not cover all issues relating to any topic discussed. The information provided in this FAQ should in no circumstances be relied upon without consulting legal advisors.