A license authorizes the holder to do something that he or she would not be entitled to do without the license. Licensing may be directed toward revenue raising purposes, or toward regulation of the licensed activity, or both. Statutes frequently require that a person obtain a license before practicing certain professions such as law or medicine, or before carrying on a particular business such as that of a real estate broker or stock broker. If the license is required to protect the public from unqualified persons, an assignment of that license to secure a loan would probably not be enforceable.
Virgin Islands Assignment of Business License as Security for a Loan
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Multi-State
Control #:
US-01467BG
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Word;
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How to fill out Assignment Of Business License As Security For A Loan?
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Certificate of Incorporation: This shows that the company is registered in the British Virgin Islands and the date and the exact name as appeared in the BVI Register of Companies.
An Act to provide for the licensing, registration and supervision of persons who carry on financing business and money services business and for connected matters.
A British Virgin Islands International Business Company is exempt from all local taxes, stamp duty, there is no capital gains, no inheritance tax, no sales tax and no VAT. If you are looking to maximise your profits, BVI could be a very good place for you to start your business.
Shareholders of BVI companies are listed in the Register of Members which is defined in section 41 of the Business Companies Act. They are not publicly available. There are three types of members: Shareholders holding registered shares.
Collateral is an asset pledged by a borrower, to a lender (or a creditor), as security for a loan.
The British Virgin Islands Company Registry can be accessed online through the official website of the FSC. You can search for information on companies registered in the BVI by using the company name or registration number. Sometimes, you may be required to pay a fee to access certain information.
As noted in our article regarding amendments to BVI the Business Companies Act, as of 1 January 2023, BVI companies are required to file an annual return, which contains specific financial information, with their Registered Agent.
Pursuant to section 163 of the Act, a BVI Company (or a BVI legal practitioner authorized to act on its behalf) or the secured party (or a person authorized to act on its behalf) may lodge an application with the Registrar to register a charge created by the BVI Company by making a filing, specifying the particulars of ...