[Your Name] [Your Address] [City, State, ZIP Code] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Title] [Company Name] [Company Address] [City, State, ZIP Code] Subject: Dissolution of Corporation — Notice of Intent Dear [Recipient's Name], I hope this letter finds you well. I am writing to officially inform you about our intention to dissolve [Your Corporation Name], a corporation duly registered in the Virgin Islands. This decision has been made collectively by the board of directors and shareholders, following a thorough evaluation of the company's current standing. The purpose of this letter is to provide you with the necessary details and documents pertaining to the dissolution process. We kindly request your cooperation and support during this transition. 1. Dissolution Date: The effective date of dissolution will be [Date]. This date has been determined by unanimous shareholder consent during a special meeting held on [Date]. 2. Reasons for Dissolution: Due to various internal and external factors, including financial challenges, regulatory constraints, and evolving market conditions, the shareholders have carefully considered the options available and unanimously agreed to dissolve the corporation. We believe that this course of action is in the best interest of all stakeholders involved. 3. Compliance Requirements: We understand that there are certain obligations to fulfill when dissolving a corporation in the Virgin Islands. We will ensure compliance with all legal and regulatory requirements set forth by the Virgin Islands Division of Corporations and Trademarks. Additionally, we will settle any pending taxes, liabilities, and obligations before the dissolution becomes effective. 4. Disposition of Assets: [Your Corporation Name] has a range of assets, both tangible and intangible, which we are committed to liquidating in a fair and transparent manner. Appropriate measures will be taken to ensure that the proceeds from asset liquidation are disbursed to stakeholders and creditors as per their respective rights and priorities. 5. Contact Information: For any further inquiries or if you need clarification regarding the dissolution process, please feel free to contact me at [Your Email Address] or [Your Phone Number]. I will be available to address any concerns promptly. I, on behalf of the board of directors and shareholders, would like to express our sincere gratitude for the collaborative efforts and support we have received from [Recipient's Company] throughout the years. It has been our privilege to work alongside your esteemed organization, and we thank you for your professionalism and dedication. Please be assured that our commitment to professionalism remains intact even during this dissolution process. We look forward to working with you to ensure a smooth and orderly transition for all parties involved. Thank you once again for your understanding and cooperation. Yours sincerely, [Your Name] [Your Title] [Your Corporation Name] [Your Corporation Address] [City, State, ZIP Code]
Virgin Islands Sample Letter for Dissolution of Corporation
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How to fill out Sample Letter For Dissolution Of Corporation?
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By executing the durable power of attorney, the principal authorizes the agent to engage in the certain specified business or financial transactions on behalf of the principal with third parties. Durable power of attorney is a contract, which creates an agency?principal relationship.
Any trademark to be registered in the USVI must already be fully registered in the United States. For any application in the USVI, the applicant must provide to the USVI Division of Corporations and Trademarks a Certified copy of the corresponding United States Certificate of Registration.
Those looking to form LLCs in the US Virgin Islands must have both a local registered agent and a local office address. This address will be used for process service requests. Your agent who forms the company for you (such as this one) should automatically include this for you in the initial filing.
Unlike most US states, the USVI requires corporations to have a minimum of three directors, three officers, a president, treasurer and secretary. Corporate directors are not allowed. Stock must also be registered and there is a minimum capital requirement of $1,000.
To start a business in the U.S. Virgin Islands you will need to obtain a business license from the Department of Licensing and Consumer Affairs (DLCA).
Governor Albert Bryan Jr. He is an entrepreneur, non-profit executive, and tireless and compassionate advocate for the economic and political advancement of the people of the U.S. Virgin Islands.
To get started: Create a business plan. Register your trade name and/or corporation with the Office of the Lieutenant Governor. Select a good location and obtain a copy of an unsigned lease or letter of intent from the owner. Obtain a business license from the V.I. Department of Licensing and Consumer Affairs (DLCA)
Incorporate and open a bank account in BVI Step 1:Select company name and types. Every company in the BVI is required to be registered under an accepted name and as an entity type recognized by the law. ... Step 2:Submit application. ... Step 3:Apply for business license. ... Step 4:Open a bank account. ... Step 5:Stay compliant.
