Certificate of Incorporation

Certificate issued to companies which comply with all the statutory requirements for registration.

Charter

Memorandum of Association.

Closed-end Investment Fund

The fund with a pre-determined closing date, on which the fund's assets must be realised and the proceeds distributed back to the subscribers. This type of funds is normally used by groups of private investors, which are often working in limited partnerships for tax reasons.

Common Law

Legislative system widely used in Great Britain, USA and most countries of the British Commonwealth. Unlike in the system of civil law, which is based on statutes and codes, common law court decisions are derived from precedents (previous court decisions). In most Offshore Financial Centers IBC and trust legislation is based on the common law.

Corporate Director (Secretary)

Some jurisdictions allow a legal entity to be appointed to the position of a director (secretary) of a company. This restricts liabilities of a corporate director (secretary) and helps to increase the anonymity features of the company.

Corporate Officers

The institution which is sometimes part of the Board of Directors president, secretary, treasurer, etc. They have the right to represent the company to third parties, to make commitments and negotiations in its name.

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30/09/2006
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