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Report No. : |
354391 |
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Report Date : |
17.12.2015 |
IDENTIFICATION DETAILS
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Name : |
GSM GROUP INC |
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Registered Office : |
OMC Chambers, Wickhams Cay 1 Road Town Tortola VG1110 |
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Country : |
British Virgin
Islands |
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Date of Incorporation : |
17.11.2008 |
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Com. Reg. No.: |
1510674 |
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Legal Form : |
International Business Company |
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Line of Business : |
Activities of holding companies [We tried to confirm the detailed activity but the same is not
available from any sources] |
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|
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
International Business Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
British Virgin Islands |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BRITISH VIRGIN ISLANDS - ECONOMIC OVERVIEW
The economy, one of the most stable and prosperous in the
Caribbean, is highly dependent on tourism generating an estimated 45% of the
national income. More than 934,000 tourists, mainly from the US, visited the
islands in 2008. In the mid-1980s, the government began offering offshore
registration to companies wishing to incorporate in the islands, and
incorporation fees now generate substantial revenues. Roughly 400,000 companies
were on the offshore registry by yearend 2000. The adoption of a comprehensive
insurance law in late 1994, which provides a blanket of confidentiality with
regulated statutory gateways for investigation of criminal offenses, made the
British Virgin Islands even more attractive to international business.
Livestock raising is the most important agricultural activity; poor soils limit
the islands' ability to meet domestic food requirements. Because of
traditionally close links with the US Virgin Islands, the British Virgin
Islands has used the US dollar as its currency since 1959.
|
Source
: CIA |
|
Business Name |
GSM
GROUP INC |
|
Country |
Virgin
Islands, British |
|
Company Registration Number |
1510674 |
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Main Activity Code |
6420 |
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Main Activity Description |
Activities
of holding companies |
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Company Status |
(Active) |
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Latest Turnover Figure |
- |
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Latest Shareholder Equity Figure |
- |
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|
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Basic Information
|
|
|
Business Name |
GSM
Group Inc |
|
Registered Company Name |
GSM
Group Inc |
|
Company Registration Number |
1510674 |
|
Country |
Virgin
Islands, British |
|
VAT Registration Number |
|
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VAT Registration Date |
|
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Date of Company Registration |
2008-11-17 |
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Date of Starting Operations |
2008-11-17 |
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Commercial Court |
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|
Legal Form |
International
Business Company |
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Company Status |
Active |
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Contact Telephone Number |
1-284-494-4693 |
Main Address
|
||
|
Address |
Country |
Telephone |
|
OMC Chambers, Wickhams Cay 1 Road
Town Tortola VG1110 |
VIRGIN ISLANDS, BRITISH |
1-284-494-4693 |
No other addresses
for this company
No previous
addresses for this company
|
Activity Code |
Activity
Description |
|
6420 |
Activities
of holding companies |
No email for this company.
No web pages for this company.
|
Date
Reported |
Number
of Employees |
|
2015 |
0 |
|
Banker Name |
Banker Address |
|
Coutts Bank |
|
No advisor information for this company.
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Fax Number |
1-284-494-4627 |
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Additional Business Information |
GSM Group Inc is an International Business Company / Offshore Company incorporated in the British Virgin Islands for tax purposes. However the company does not carry any operation in the British Virgin Islands. |
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Stock |
50,000 Shares |
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Line of Business |
Finance and investment: 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, security, lease, use, usufruct, or receivership, any
kind of property, whether 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 fulfilling 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 protect
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. |
|
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. |
|
Comments on Staff |
The subject uses the staff of the registered Agent. |
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Physical Asset Holdings |
No properties in the British Virgin Islands. Possible properties
abroad are unknown. |
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Business Overview |
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. 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. |
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Listed at the stock exchange |
No |
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Shareholders Parent Companies |
The company is owned by foreign shareholders. |
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Management |
It is locally managed by the registered agent mentioned above. The
agent declined to give any information on the subject, who is protected by
the law of non-disclosure. |
|
Final Opinion |
We are reporting upon a finance and investments company which belongs
to foreign shareholders. Although it is registered in the British Virgin
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 marketplace, 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. |
No financial information for this company.
No directors information for this company
No share capital information for this company
No group structure information for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.85 |
|
|
1 |
Rs.100.57 |
|
Euro |
1 |
Rs.73.15 |
|
US Dollar |
1 |
Rs.66.50 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.