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What data is important to know about certificates of offshore and onshore organizations

What data is important to know about certificates of offshore and onshore organizations

16. 11. 2018

Businessmen who used offshore in their work, as well as a European company, probably know about the existence of company certificates. These documents are not considered basic for the established company, but in some situations may be useful. They are ordered in addition to the main package of papers.

About the Good Standing Certificate

This certificate is a confirmation that the company is active and has no debt obligations for paying state fees.

The document contains the following data:
• Name of company;
• Company registration number;
• date of registration;
• Date of issuance of the certificate.

The document may be issued by the registration authority of the state where the organization was established. This certificate is necessary in such a situation if the partners of the company abroad want to obtain evidence of the legal status of the organization.

However, banks often request a certificate when it is necessary to open an account, or to update data on an open account. It should be remembered that if the owner of an offshore fails to pay its annual content, it will be impossible to obtain a certificate.

About the certificate of "Incumbency"

This document confirms the status that the company has, and contains detailed information about the structure of the organization.

The information contained in the document:
• Company name;
• date of registration;
• Information about directors, shareholders;
• Information on the number of shares issued;
• Details of share capital.

Depending on various circumstances, the information in the certificate may be different. The issuance of the document is engaged in the registration agent, the secretary of the organization. The document may be required if there is a need to open an account in a foreign bank, for some banking institutions the certificate is among the required documents. In addition, it is needed if you want to confirm the status and structure of the partners of the company.

About the document "Tax Residence Certificate"

This document is proof that the company is a tax resident, has a tax number, has an obligation to submit financial reports.

It is possible to obtain a certificate from the tax authority of the state where the business is registered. Often such a document is required to gain access to the benefits of double tax avoidance agreements. The certificate can also be requested by foreign banks if it is necessary to open an account.

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