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Report No. : |
347561 |
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Report Date : |
04.11.2015 |
IDENTIFICATION DETAILS
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Name : |
TWELVE INTERNATIONAL LIMITED |
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Registered Office : |
Sea Meadow House, |
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Country : |
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Date of Incorporation : |
04.01.2005 |
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Com. Reg. No.: |
634127 |
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Legal Form : |
International Business Company |
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Line of Business : |
Offshore Company |
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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 |
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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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Status : |
Offshore 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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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British Virgin Island |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BRITISH VIRGIN
ISLAND - 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.
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Source
: CIA |
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Legal Name: |
Twelve International Limited |
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Legal Address |
Sea Meadow House P.O. Box 116 |
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Postal Town |
Town Road |
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Post Code |
VG1110 |
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Primary Geographic Area |
Tortola |
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Country |
VG |
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Location Status |
Single Location, Legal Address, |
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Mailing Address |
P.O. Box 116 Road Town Tortola VG1110 British Virgin Islands |
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Telephone: |
1-284-494-3399 |
Registration Number : |
634127 |
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Fax: |
1-284-494-3041 |
Legal Form: |
International Business Company |
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Email: |
N.A |
Registered in: |
VG |
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Website: |
N.A. |
Date Created: |
2005 |
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Manager: |
N.A. |
Date Incorporated: |
January 4, 2005 |
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Staff: |
0 |
Stock: |
N.A. |
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SIC Code: |
6719 |
Value: |
USD 50 000 (Authorized Capital) |
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Activity: |
Offshore company |
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Management: |
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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. |
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Legal Filings |
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The sources consulted record no detrimental legal or labor
court information. |
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Public |
NO |
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Shareholders Parent Company(ies): |
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The company is owned by foreign shareholders. |
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Trade References: |
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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. |
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PAYMENTS |
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made on a 10 days basis - monitored over the last 12
months |
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Payments |
Unknown |
N/A
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FINANCIALS - COMMERCIAL TRENDS
AND FORECAST |
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As a private company the subject does not publish any
financial statements. |
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However our financial sources could provide us with the
following data. Those figures are estimates provided by confidential
banking and financial institutions working with the company. |
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Currency |
DATE |
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USD |
2014 |
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Turnover |
0 |
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Operating Income |
2 780 000 |
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Net Income |
2 780 000 |
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Net worth |
6 580 000 |
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Bank Liabilities |
0 |
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The cash flow is |
Good |
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FINANCIAL SUMMARY |
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Profitability |
CORRECT |
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Indebtedness |
CONTROLLED |
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Cash |
Good |
N/A
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GEOPOLITICS - BRITISH VIRGIN
ISLANDS |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: British overseas territory -
Parliamentary system Economic Risk: Nil |
Currency: USD |
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BANKS |
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Name of the Bank |
CHASE BANK |
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BUSINESS PRINCIPAL ACTIVITY |
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Twelve International Limited 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. 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. |
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The subject employs 0 employee(s) |
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Comments on staff: |
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The subject uses the staff of the registered Agent. |
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LOCATION |
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Headquarters |
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The Address mentioned above is that of the registered
agent: AMS Trustees Limited Sea Meadow House P.O. Box 116 Road Town Tortola VG1110 British Virgin Islands Tel#: 1-284-494-3399 Fax#: 1-284-494-3041 PHYSICAL ASSET HOLDINGS: No properties in the British
Virgin Islands. Possible properties abroad are unknown. |
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: |
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NO |
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Final Opinion |
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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. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.45 |
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1 |
Rs.100.96 |
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Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
NIT |
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 |
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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-- |
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.