To Petro International Petro International is an executive level financial and management consulting firm that provides support to corporations, financial institutions and high net worth individuals World-Wide Financial Services Offshore Company Formation (IBC)

Bermuda IBC

Only US$499

It may surprise you to learn that the number one reason for people moving money offshore is not because of tax benefits but asset protection. Today's predaceous and litigious society unfortunately makes successful people vulnerable to lawsuits of every kind.

Why Bermuda? Having pioneered offshore business, Bermuda is home to more than 59,500 international companies and partnerships, an insurance and re-insurance industry with total assets in excess of $500 billion, an investment fund industry of over 15,000 funds with assets in excess of $130 billion and the world's premiere offshore stock exchange with a market capitalization in excess of $260 billion. Over 85 of the Fortune 100 companies have operations in Bermuda. Isn't it time your business was here? Bermuda is the world's leading offshore financial center. The Island has been a British Colony since 1609 and remains today the oldest self governing British Dependant Territory. The legal system is based on British Common Law and the Island can boast centuries of political, social and economic stability, with a long tradition of Parliamentary rule.

Welcome To Heaven

Bermuda offers a wealth of sophisticated corporate management services, local management consultants, and management services companies, as well as trust companies and brokerage firms. Both the Bermuda Dollar and the U.S. Dollar, which are trade at par with each other, are regularly accepted as currency. Banks will set up accounts in either currency. Bermuda , situated in the Atlantic ocean, is a self-governing British colony and its large, respected financial center has been in operation for more than 20 years. Income per head is among the highest in the world on Bermuda . Service charges are also generally higher than those in other offshore centers. Bermuda has no estate duties, income tax or capital gains tax, and no double taxation treaties of any kind. Bermuda is widely recognized as an excellent location in which to establish trusts, with "purpose" trusts being available as well as those favoring beneficiaries. Settlers can choose law governing the trust and the details do not have to be disclosed or registered with any public body. Objectives of the Registrar of Companies

The Registrar of Companies (ROC) is a department within the Ministry of Finance which, along with other government agencies and the private sector, helps to ensure Bermuda remains a high quality and stable center for offshore business. The ROC performs many functions, including the following: Incorporation and registration of new companies under the Companies Act 1981 Maintaining the Register and as a public officer have the powers and discharge the duties conferred or imposed upon the office by the Companies Act 1981 Review applications for alterations to the Memorandum of Association of companies Grant licenses for overseas companies to enable them to carry on business in Bermuda Grant permits for overseas companies to enable them to carry on business overseas from Bermuda Act as repository for companies’ public documents, such as prospectuses Processing amendments to partnership agreements Registration of charges against companies Processing applications for the registration of insurance companies under the Insurance Companies Act 1978

Beyond the imagination

The Bermudan Insurance Act has been modified to establish four new classes of insurance. There are also plans afoot to establish three new categories of collective investment schemes, fine-tuning one of the islands' major areas of activity. There are currently 633 such schemes operating out of Bermuda , with an aggregated net asset value of US$18 Billion. Double Taxation agreements: None. Petro International serves as registered agent and trustee as required, but also provides investment management as well as trust administration, opening of offshore bank accounts, opening of offshore securities accounts, also provides storage of documents and records and of course signs as trustee on necessary transactions. The present costs of incorporating a general exempt company is US$499 in various disbursements and does not include the government application and registration fees. Petro International is licensed by the Financial Services Commission and the World Security Commission to act as a company manage. Petro International offer a complete range of company formation and management services, including provision of registered office, directors and secretary, maintenance of statutory books and the holding of meetings and filing of returns, Companies can be formed in 24 hours, but our "off the shelf" companies can be immediately available.

GENERAL
Type of Company	IBC
Political Stability	Excellent
Common or Civil Law	Common
Disclosure of Beneficial Owner	No
Migration of Domicile Permitted	Yes
Tax on Offshore Profits	Nil
Language of Name	Latin or other alphabets
CORPORATE REQUIREMENTS
Minimum Number of Shareholders	One
Minimum Number of Directors	One
Bearer Shares Allowed	Yes
Corporate Directors Permitted	Yes
Company Secretary Required	No
Standard Authorized Share Capital	US$ 12,000
LOCAL REQUIREMENTS
Registered Office/Agent	Yes
Company Secretary	No
Local Directors	No
Local Meetings	No
Government Register of Directors	No
Government Register of Shareholders	No
ANNUAL REQUIREMENTS
Annual Return	No
Submit Accounts	No
RECURRING GOVERNMENT COSTS
Minimum Annual Tax/License Fee	US$ 1,680
Annual Return Filing Fee	US$ 50

Mailing, Fax, Telephone And Office Facilities: As part of the domiciliary service fee we provide clients with a registered office address in the country of incorporation but clients may find it convenient to arrange for mail forwarding, fax and telephone facilities through our affiliates Switzerland, The Bahamas Islands, London or other Petro International offices.

This service may be especially useful where, for example, the company is opening bank accounts. Normally the bank would address statements and other correspondence to the company at the address of the client but this results in a loss of confidentiality in that the connection between the company name and the client will be automatically made.

To safeguard against this mail can be directed to our offices and we can re-mail those letters in a plain envelope addressed to the client or otherwise as the client directs. An additional advantage of using our re-mailing services is that the provision of a re-mailing address through one of our prestigiously located offices in the onshore jurisdictions may allow the offshore company to appear to be domiciled on-shore and thereby give that company an added degree if respectability. For example, your offshore company could quote Petro International London office address on its letterhead and thereby appear to be domiciled in the UK. This procedure is particularly attractive if the Hong Kong address is used as a Hong Kong company is not required to quote its registered office address on its letterhead. Thus if an offshore company were to quote a Hong Kong address it would be indistinguishable from the letterhead, from a normal Hong Kong trading company.The charge for this service is only $275 per annum.

Trust Services: Using a trust to own the shares of an offshore company can result in very substantial tax and non-tax related advantages which will accrue both on death and during the lifetime of the trust settlor. These advantages may include:

Saving Of Inheritance Tax: On death, the Inheritance tax which would normally be assessed on the value of shares would generally be eradicated.

Asset Protection: Assets placed into trust are generally beyond the reach of creditors who might arise as a result of financial difficulties, divorce proceedings, litigation, etc.

Avoidance Of Probate: A trust provides a means whereby assets can be smoothly passed on to the next generation without the disruption, delays substantial costs, loss of confidentiality associated with the probate procedure which necessarily follows when assets are bequeathed by will.

Continuity: Trusts provide a means whereby assets can continue to be administered in accordance with the wishes of the settlor after his death so the weak can be protected from others and the spend-thrift can be protected from himself.

Lifetime Tax Savings: During lifetime, substantial income and capital gains tax advantages may result from setting up the trust. Using the service of one of our licensed trust companies, we are pleased to act as trustee for a suitably drafted discretionary trust and the cost of this service would be from US$500 for setting up the trust deed and from US$500 per annum for the provision of trustee services. Other Services: Petro International provides a wide range of administrative and documentary services including, but not limited to legalization and notarizing of documents, credit cards, yacht and ship registration, invoicing, documentary trade services, trade finance applications, accounting, consulting and immigration services.

Unspoiled Land

VIP Packages: For one payment US$499 Petro International will provide the following:

• Preparation and filing of Incorporation of Association with the Registrar of Companies to create and incorporate the International Business Company (IBC).
• Appointment and payment of a registered agent and registered office in Singapore for one year for the IBC.
• Appointment and payment of two (2) Officers/Directors to serve as Nominees for the IBC for one year.
• Preparation of the initial Minutes, filing of the Notice of Registered Office, and issuance of Share Certificates.
• Opening of a corporate bank account and stock brokerage account in Singapore.
• The company will be formed within 24 hours of receipt of the fee and a completed Confidential Client Information Form.

Confused? The average person is frequently confused by the complexity of international tax planning and discouraged by the substantial costs involved in an offshore company formation or registering of a company or trust in a tax haven. The registration costs and ongoing yearly administration expenses frequently exceed what the average person could save in taxes. Petro International has a new program to answer those concerns. We provide the simple, secure, private and low cost answer for the person who is just starting out or the veteran who now understands that simplicity is the essence of genius. Our survey has shown that this solution answers all of the needs for 100% of the persons seeking to go offshore.

The program includes bearer shares so that complete anonymity is guaranteed, documentation and support services so that you can create an offshore business company under your complete control, where and when you wish, and flexibility so that you can change your financial affairs to reflect your future needs.

We trust that we have clarified the intriguing world of Bermuda Offshore companies. We will be happy to answer any questions you may have, relating to this opportunity and provide you with additional details regarding any of our devoted services.

Please click here to write us the full particulars of your situation and what you wish to accomplish. We will review your situation very carefully and offer to you a custom fitted solution. 95% of the time it will be simple to understand and 100% of the time it will be the least expensive alternative.

If you would like to obtain further details of the legislation surrounding the formation of a The British Virgin Islands international business company or wish to discuss any matter in complete confidence, please click here to contact: Mr. Robert Haig Petro International Offshore Services

Thank you for your interest and feel free to contact Petro International Group Offshore Services if you believe the formation of an international business company in Bermuda may be appropriate in your particular situation. Any communication with us is considered PRIVILEGED and CONFIDENTIAL.

Other Jurisdictions?

Petro International is in a position to assist new and established clients in opening personal and corporate offshore bank or trust accounts, denominated in almost every currency, in over 125 of offshore jurisdictions world-wide, including:
New Zealand, Australia, Chile, The Dominican Republic, Ireland, Argentina, Belize, Brazil, Spain, Italy, Costa Rica, Venezuela, Uruguay, Prague, Bodrum, The Spanish-Moroccan Tax Havens, The Madeira Tax Haven of Portugal, The Jamaican Free Trade Zones, The Dominican Republic Free Trade Zones, Campione D'Italia, Andorra, Poland, The Eastern Turkish Border and Tbilisi, Mozambique, Guatemala, The Virgin Islands, The Philippine Islands, and Anguilla are just some of the countries and places featured.