Preparation of certificates of Good Standing, Incumbency
Preparation of certificates of Good Standing, Incumbency, Tax Residence Certificate. If you have a “European company” or a business in offshore countries, then, most likely, you have come across various certification documents, in particular, Good Standing, Incumbency and Tax Residence Certificate.
If you can’t figure out what they are for, or just plan to use them, the following information will be relevant. Such certification documents are not core to the company.
FEATURES of CERTIFICATE
Order these certificates additionally when the need arises. And such a need sooner or later necessarily appear.
Preparation of a GOOD STANDING certificate
In other words, this is a good state document. The certificate confirms that the company is active and, most importantly, it has no debts related to the payment of state duty. Usually it indicates the name of the institution, information about its registration number, date of issue.
Gives the body that registered the company. Such a document may be necessary if the business partner wants to verify the legality of the company.
In practice, this rarely happens. Much more often, a certification document is required when opening an account in an overseas bank, if the company exists for more than six months.
It is need when updating the information on the work account on time, which is establish by the bank itself. There may be nuances. If the offshore company has not paid state payments on time, the document will not be issued by the registry.
It will not be possible to fulfill banking requirements, and the account will simply be block, which automatically levels all transactions.
Preparation of an Incumbency Certificate
With this document, you can easily confirm the information about the status in which the company is currently located. It also displays extended information about the company structure.
Standard for a certification document is information about the name of the company, its registration number. Be sure to write information about managers and individuals who have shares.
However, sometimes the certificate displays other information required by the beneficiary and in accordance with jurisdiction.
A registration agency or company secretary issues incumbency certificate. The document is need during the opening of an account in a foreign banking institution. The need for it appears when checking.
TAX RESIDENCE CERTIFICATE
With such a certificate, it is possible to confirm the status of the resident taxpayer in the camp where the company was registered. It shows that the company has its own tax number. Residents are required to submit appropriate reports once a year.
It turns out that such a document is relevant only for offshore companies, therefore, only they can get it. And the thing is that offshore are tax-free jurisdictions.
The tax authority of the state that registered the company can issue tax Tax Certificate. We need a document so that you can take advantage of the agreements and at the same time avoid double taxation. A foreign bank has the right to request a document if it opens an account.
WHERE TO Preparation of certificates
Eternity Law International provides almost all types of legal services. In particular, support during registration of offshore companies, European companies. Also, our specialists are ready to assist in opening various accounts in foreign banking institutions.
We help to obtain all of the above certification documents, as well as other certificates for already existing offshore companies.
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