MIRA
INFORM REPORT
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Report Date : |
14.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
NOVEXCO (CYPRUS) LIMITED |
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Registered Office : |
12, Egypt Street, 1097 Nicosia, P. O. Box 22303 - 1520 Nicosia |
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Country : |
Cyprus |
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Date of Incorporation : |
19.09.2007 |
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Com. Reg. No.: |
C208398 Nicosia |
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Legal Form : |
Private Limited
Liability Company / International Business Company (IBC) |
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Line of Business : |
Provide consultancy services. |
RATING &
COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NAME & ADDRESS
Correct Registered
Name: NOVEXCO (CYPRUS) LIMITED
Address: 12, Egypt Street
1097 Nicosia CYPRUS
P.O.Box: 22303 - 1520 Nicosia
Telephone: +357-22558888
Fax: +357-22759777
LEGAL STATUS
Legal Form: Private Limited
Liability Company / International Business Company (IBC)
Registration
number and city: C208398 Nicosia
Registration date:
19.09.2007
Former
registration name: BETINER
MANAGEMENT LIMITED, valid since: 19.09.2007, until: 01.11.2007
Former company
names: BETINER MANAGEMENT
LIMITED
PRINCIPALS
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SHAREHOLDERS: |
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Full Name |
Function |
Nationality |
EQUITY |
Address |
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Mr. Vadim Kharim |
Shareholder |
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100.00% |
George Street and King Street |
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MANAGEMENT: |
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Full Name |
Age |
Function |
Qualification |
Experience |
Address |
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ZOULIAN LIMITED |
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Secretary |
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29A, Annes Komnines Street |
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Ms. Eleni Kinani |
72 |
Director |
N/A |
N/A |
12, Egypt Street |
ACTIVITIES
Services
OPERATIONS
SIC
8742 Management Consulting Services (administrative management and general
management consulting)
According to the company's Articles of Association, the company was established
in order to provide consultancy services. This information has not been
confirmed. Of course the Articles make provision for other activities as well.
MOTOR VEHICLES
Unknown
IMPORTS
Unknown
EXPORTS
Unknown
AGENCIES
Name Country Product
Unknown
TRADE SUPPLIERS
Name Country Product
Unknown
NUMBER OF EMPLOYEES
Unknown
DESCRIPTION OF PREMISES
HEADQUARTERS: The address given above is the official register address of the company and the address of
the official correspondence of the company. According to the person interviewed the
company maintains offices in Cyprus but she refuse to release the location of the company's
offices in Cyprus.
BRANCHES: Unknown
RELATED COMPANIES
Unknown
BANKERS
Unknown
SHARE CAPITAL
Registered capital: EUR
2,000.00 since 19.09.2007
Number of Ordinary: 2,000
Value per share of Ordinary: EUR 1.00
Issued capital: EUR 2,000.00 since 19.09.2007
Number of Ordinary: 2000
Value per share of Ordinary:
EUR 1.00
Paid-up capital: EUR 2,000.00 since 19.09.2007
CHARGES
None in current years
FINANCE
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PAYMENT RECORDS
Too early to
comment
COMMERCIAL MORALITY
Too early to
comment
FINANCIAL STRENGTH
Too early to
comment
GENERAL COMMENTS
The present is an
International Business Company - IBC (ex - Offshore Company) registered in
Cyprus on 19.09.2007. According to the company's Articles of Association, the
company was established in order to provide consultancy services. This
information has not been confirmed. Of course the Articles make provision for
other activities as well.
IBC companies, being covered by the law of confidentiality, may use nominee
shareholders that hold the shares in trust for beneficial owners. Until
recently beneficial owners were made known only to the Central Bank of the
Republic of Cyprus that used to grant the permission for the company’s
registration in Cyprus. After Cyprus accession in the EU this practice changed.
Beneficial owners of an IBC are now known to the Lawyers and / or Auditors that
undertake the registration of such companies in Cyprus.
In the past IBC’s (ex offshore companies & offshore branches) used to be
benefited from a corporation tax rate on their profits of 4.25%. However, according
to new tax legislation which has been in effect as of 1st January 2003, there
is no longer a distinction between local companies and International Business
Companies (IBC’s) and thus, the net profits of all companies registered in
Cyprus are taxed at the rate of 10%.
Further more, in the past the law required the IBC’s (ex offshore companies
& offshore branches), beneficial owners to be non-Cypriot residents and the
business activities to be carried out, outside Cyprus only. Currently, this law
has changed. IBC entities may have activities worldwide, including Cyprus.
However, in order for an IBC entity to have activities locally, their
Memorandum and Articles of Association should provide for that. Most of the IBC
entities that were registered before the change of the law have already
proceeded with the amendments in their Memorandum and Articles of Association.
NOTES:
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(1) Please note that no previous data was held in our own databank on the
subjcet question.
(2) No further detailed information was found on the company, in any of the
local available to us trade / commercial directories
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. |
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)