Making it Easier for Swiss or BVI Company Formation with Rightly Drawn Articles of Association

For any kind of company, in almost all the countries of the world, establishments can exist only if there is a book declaring regulations or a set of documents. Articles of Association are a legally drawn, authorized and notarised document in most countries. It is supposed to dictate the manner in which various organisations are required to work within the ambit of the present company’s jurisdiction. In many countries, this regulation is strictly checked, while a few countries have relaxed norms for such articles. In Switzerland as well as in countries like Cyprus, British Virgin Islands, Cayman Islands and few others, the articles of association can be drawn up with convenience, without going through lots of legal and official troubles.

• Drawing up articles of association essential to register and then start business

During their work in BVI company formation, business ventures have to draw their own articles of association, which is then presented to the notary. This can be done by the shareholders or the company management. Some countries like British Virgin Islands, usually let companies establish their office with one director, so that the drawing up of the article is easy and doesn’t take much time.

• Articles to be submitted before the notary or right authorities

Before the notary provides the authorization for Swiss company formation, it becomes necessary to pay up the capital fee to the country allowing this formation. It is an incentive for the country to permit companies from setting up the office. Such payments are also quite low as in British Virgin Islands, Cyprus, Cayman Islands, Switzerland and few others. As a result, the initial capital requirement for establishing a business venture is also lowered for a company.

• Necessary documentation important to start the articles of association and registration

If a business venture is going out for Swiss company formation, it should try and fulfil the documentary requirements at the notary. Most of these offshore countries do not have particularly strict requirements, but still the minimum documentations have to be done. There is need to have bank statements or auditor’s note. Various identification proofs are needed from the members of the board, who have drawn up the articles of association. When a representative appears before the notary, he or she should have the necessary power of attorney to show the authorization. It is only after the satisfactory check by the notary in Switzerland or in British Virgin Islands that a particular company can start its operations and for this, the role of articles of association has been quite an important necessity.

• Proper articles help in right process of registration

An additional requirement of articles of association during BVI company formation is getting this registered and entered into the commercial registry of the Virgin Islands. This is done to ensure that the company can trade publicly in the country and also can hire personnel for its operations. Besides all these requirements, the taxation and monetary policies of Switzerland and BVI are quite relaxed, making it easier for new companies to operate. It takes only a few days to bring about significant work in such countries, which is otherwise time consuming, delaying and expensive in larger nations.

Ansel Adams has pointed out to the growing trend of offshore company formation that provides several noteworthy advantages to businesses. The author favors Cyprus as an offshore destination for incorporating a business.