MIRA
INFORM REPORT
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Report Date : |
7th
November 2006 |
IDENTIFICATION
DETAILS
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Name : |
WORLD THROUGH
INVESTMENTS LTD. |
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Registered Office : |
Road Town Tortola P.O.Box 957 |
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Country : |
Virgin
Islands |
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Date of Incorporation : |
02.01.2004 |
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Legal Form : |
IBC/International
Business Company |
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Line of Business : |
Engaged in
the business of finance & investment |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
Offshore
Company |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
Company's style
WORLD THROUGH INVESTMENTS LTD.
Trading Address
Offshore Incorporations
Centre,
Town :
ROAD TOWN
Island : TORTOLA
Mailing address : P.O.Box 957
Telephone : (284)494 2233
Fax : (284)494 3547
Country :
BRITISH VIRGIN ISLANDS (B.V.I.)
BACKGROUND INFORMATION & BUSINESS PROFILE
LEGAL DATA
Legal form : IBC/International Business Company
Date established :
02.01.2004
REGULATORY
FRAMEWORK
The British Virgin Islands
("BVI") are a British Colony located in the Caribbean. The BVI are
independent from the United Kingdom, except with respect to their external
matters, defense and internal safety. Its legal system is based on the English
Common Law. English is their official language and their official currency is
the U.S. dollar. There are no exchange controls nor requirements to file
corporate reports of any nature, therefore the islands offer multiple tax
advantages to the non-resident that organizes companies therein.
BVI
International Business Companies (IBCs) are the off-shore companies with a
great number of advantages, such as:
1)
Exemption from payment of any
income tax;
2)
Can conduct most business
transactions (except conducting banking and insurance activities and other
businesses with residents of the BVI; or to possess real estate in BVI);
3)
Requires a minimum of only one
shareholder and one director;
4)
The directors and shareholders
can be entities or individuals resident in any country;
5)
The shares can be issued to
the bearer or registered;
6)
The Board of Directors can
meet in any part of the world and even by telephone;
7)
The payment of minimum capital
is not required, and the shares can be issued at par or non par value;
8)
The names of the Directors,
Officers and shareholders do not need to be registered in a public record
9)
No need to file annual reports
nor tax returns;
10)
Can transfer its domicile and
continue existing as a company incorporated under the laws of a jurisdiction
outside of BVI; a foreign company can also become a BVI IBC;
11)
Neither the minutes book nor
the shares book need to be certified by any authority of BVI;
12)
It is not necessary to carry
out Directors or shareholder meetings on a regular basis.
13)
The name of the company must
include the word 'Limited', 'Corporation' or 'Incorporation', or the
abbreviation 'Ltd.', 'Corp.', 'Inc.' or 'S.A.'. Names in Chinese characters may
also be recorded.
14)
It is not necessary to issue
shares of the company, unless the Board of directors decides so. The shares
should be paid in full at the time of issuance, and they can be issued for
money, services or properties received. The name of the shareholder must be
registered in the shares book, which is not open to the public. The meetings of
the shareholders will be conducted whenever the Directors consider it necessary
or desirable or through written request of the shareholders that represent more
than 50% of the votes. The resolutions of the shareholders can be approved by
telephone or in a duly convened meeting, and they can also be adopted through
written consent. The company must have a registered office and agent in BVI.
15)
The IBC can be dissolved by
resolution of the Board of directors, if no shares have been issued. In case
that the shares have been issued, the company must be dissolved through a
shareholders resolution.
16)
All the dividends, interest,
rents, royalties, compensations and other amounts paid by company established
under the IBC Act to persons that are non-residents of BVI are exempt from
payment of income tax. The capital gains earned from the sale of whatever
shares or other securities of an IBC are also exempt from payment of any tax.
CAPITAL STRUCTURE :
AUTHORIZED NOMINAL CAPITAL : USD 50.000
ISSUED CAPITAL :
USD 50.000
PAID-IN CAPITAL :
USD 50.000
Its
stock is divided into bearer and ordinary no par-value shares. It is a
privately-owned company whose shares are no traded on the Stock Exchange, and
whose controlling shareholders are unbdisclosed foreign investors. The total investor's anonimity and business secrecy
is granted by the British Virgin Islands legislation.
REGISTERED AGENT : OFFSHORE
INCORPORATIONS LTD.,
Craigmur Chambers, Road Town,
Tortola, B.V.I.
LINE OF BUSINESS : FINANCE & INVESTMENT COMPANY
Subject
has the following purposes and objects: The principal object is to engage
either in the Virgin Islands or abroad, in the purchase, sell, disposal,
dealing, transfer, barter, ownership, negotiate, finance, administration to
grant guaranties in favor of obligation of third parties with or without
mortgage or pledge of the corporation assets, give or borrowing money in loan,
giving or taking in commission, mortgage, securirty, lease, use, usufruct, or
receivership, any kind of property, wether real or personal stock or rights,
and make and accept all kinds of deals, contracts, operations, business and
transactions of lawful commerce.
The corporation
could engage also in fullfilling all activities, contracts, operations,
business or transactions allowed by Law to the Corporation.
In
particular it is engaged in financial intermediation operations, participation
in overseas companies, shareholdings, overseas investments in general, etc.
According
to informed by subject's resident agent, it is legally registered in the
British Virgin Islands, with head offices abroad.
It
means that subject uses the British Virgin Islands territory only as its legal
and administrative address, but all its operations are carried out abroad.
It is
under the same condition as many companies that are established in the British
Virgin Islands, founded in order to protec their shareholder's investments and,
to avail of tax exemption laws in that country.
Subject's
annual business volume is not disclosed by its Resident Agent.
STAFF :
nil. It uses the registered agent's staff
BANKERS : No
bank relations are known in the B.V.I.
TANGIBLE FIXED ASSETS, INVESTMENTS, ETC.
PHYSICAL ASSET HOLDINGS : No properties in the British Viring Islands. Possible properties
abroad are unknown.
CREDIT STANDING
TRADE REFERENCES : In virtue of the nature of its business activities
its local transactions are seldom.
Therefore, commercial sources consulted in the marketplace report that they are
unable to establish subject's payment performance and general reputation
regarding commitments contracted as same it is
UNKNOWN as making use of credit facilities.
Negative facts : Nothing
detrimental. No collection claims, returned checks, or legal suits are recorded
against subject.
FINAL OPINION
We are
reporting upon a finance & investments company which belongs to undisclosed
foreign shareholders. Although it is registered in the Virging Islands, it uses
such territory only as its legal and administrative address, but all its
operations are carried out abroad. It is managed by a resident registration
agent and it is unknown in the arketplace, so its commercial morality and general
reputation cannot be assessed, although nothing detrimental is noted upon
subject. As there are no visible assets, and taking into account also that it
is unknown as making use of credit facilities, credit in general must be
regarded as a matter of confidence, and amounts of certain importance would
have to be secured by collateral.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded
healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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