To come to a central point of doing business, it was made possible that all companies who want to engage in worldwide business deals have to have a way of identifying themselves and so came the certifications, which act as a very key role in the business process of the BVIs. To ensure that a document is legally acceptable in another country by another company, the world has agreed on a uniform/one system of identification called the second-level certification, which seconds the validity of business documents and of all public documents. This is the Apostille legislation, or what people call the “The Hague Convention”, of the 1961 caucus.
What we call the Apostille process is actually not that complicated; a higher individual then additionally confirms the signature of the individual who had made the initial local certification (in this case the Notary or Attorney in the BVI). On a normal day and if all is in order, by a designated government office of the company of origin, in very big companies it is given by the foreign Office/Supreme Court. On getting this second certification, the document would be considered a legal document in all member countries of the Hague Convention. The Hague Convention is signed by almost eighty percent of the world so the document is applicable in all these countries. If the country you operate your business in is not a member of the convention, you will need to be certified by the Embassy of your country, this can also be the Embassy representing your country. The process is usually very time consuming and very expensive. In the long run, however it is worthwhile.
How is the certificate used in real life you may ask? This will give you a feel of all you can do with the certification:
1. Open a foreign bank
2. Securities account opening
3. Purchase of real estate
4. Register a branch
5. Show the company documents to a third party outside the BVI
Most agent companies offer this service to its client if it is clearly stated in the initial documentation. The company would normally arrange Apostille certification for one full set of copies of the main incorporation documents. As the business grows, more Apostille certifications would be required as this is usually arranged as the time comes. On the same note, we would also advise our clients to also Apostille-certify the original Certificate of Incorporation. This makes it a very strong document when finding business in another country even without providing the rest of your legal documents. Because the new BVI Business Companies Act of 2004 is very flexible and can be interpreted in many ways, any user’s specific needs are usually catered for. The wording of the documents can be manipulated to fit your needs so that the documents are satisfactory to the client and still legally binding in the eyes of the law. In case of such needs, however, the owner of the company must mention this in advance when the writing the documents.
We provide the following company formation services, Seychelles Company Formation |Belize Company Formation| Offshore Company Formation | BVI Company Formation | Bahamas Company Formation
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