Company Formation & Administration
The formation fee includes all government, legal and other costs and expenses, for a normal volume of discussions and correspondence, the taking of firm instructions and the general supervision of formation procedures including the first directors’ meeting, the appointment of the first directors and officers, the issue of shares and such other statutory and related procedures as may be required to establish the Company.
The annual administration fee is for the provision of directors and officers, nominee shareholders, registered and other office addresses and the maintenance of all statutory records. Additional administrative services are charged on a time/cost basis,in arrears.
| Formation | US$ 1750.00 | |
|---|---|---|
| Annual Government/Legal |
US$ 500.00 | |
| Administration (for the provision of Directors, officers, etc.) | US$ 550.00 | |
| Total Annual | US$ 1050.00 |
Trust Registration & Administration
The formation fee includes all legal and other costs and expenses incurred during the period from the initial enquiry, through a normal volume of discussion and correspondence, to the taking of firm instructions and the general supervision of the formation procedures including the provision or perusal of a standard Trust Deed, drafting or perusing a Letter of Wishes and such related procedures as may be required to establish the Trust.
The annual fee is for the provision of one corporate trustee. Additional administrative services are charged on a time/cost basis, in arrears.
In addition the trustees will charge a fee to represent their fiduciary responsibility, based on gross assets due, at the rate of 0.10 per cent per annum up to US$2 million and 0.05 per cent per annum thereafter.
| Establishment | US$ 2000.00 | |
|---|---|---|
| Annual Trusteeship | US$ 1500.00 | |
| Annual Government Fees | US$ 225.00 | |
| Total Annual | US$ 1725.00 |
Fees & Expenses - General
The minimum formation and initial annual fees are payable in advance usually prior to formation. Thereafter the annual fee is payable in advance, usually on each anniversary of the establishment of the Trust or Company.
Administrative services are chargeable in arrears periodically and at least annually on a graded time/cost basis or otherwise as agreed.
Fees may be negotiated in the event that some only of the services are provided.
Charge out rates will be increased in respect of work requiring immediate attention.
A fee is payable upon the termination of any of the administrative services provided which will be billed on a graded time/cost basis and may include a reserve to cover subsequent involvement plus disbursements. The minimum termination fee is US$900.
Cozier & Associates will seek reimbursement of all expenses of any nature incurred on behalf of clients or clients’ accounts.
Cozier & Associates maintains financial records to meet legal or other requirements for all trusts and companies under administration. However clients may use their own professional accountants with our consent.
The annual government/legal fees shown are the minimum amounts currently charged in the offices of the Registrar of Trusts and Companies. Nevis government/legal fees are not pro-rated and therefore, depending on the date of formation, payment of two years’ fees may initially be required.
All billings are payable within one month of the date they are rendered failing which interest at the rate of 15% per annum will be applied.
Cozier & Associates reserves the right to amend its fees at any time. Government and legal fees may be increased without notice.
Scales effective 1 January 2003