offshore company Tax
(1) Bermuda. In addition to Bermuda residents, it does not tax foreign companies or their shareholders. Overseas companies can apply to the Ministry of Finance and is likely to be from the Bermuda Ministry of Finance commitments, which can be clearly even if the Bermuda legislature in the future according to the provisions of profits or income, or on assets, gains or value-added tax calculations, or to the Housing the nature of real estate or inheritance tax, then in March 2016 before the tax does not apply to overseas companies and their business activities, does not apply to the company's stock, credit debt and other debt. Such tax only applies to the original residing in Bermuda, virtual office holds the hands of the company's stock, credit debt or other debt of the residents or the land lease or transfer to the company population.
(2) British Virgin Islands international business company or does not live in the British Virgin Islands offshore company shareholder taxation. British Virgin Islands government for the future there is no taxation without guarantees and assurances.
(3), the Cayman Islands. The Cayman Islands does not tax overseas company and its shareholders. Overseas companies are entitled from the Cayman Islands Government Office, be assured, the Cayman Islands on profits, income, income, value-added tax legislation, as well as real estate and estate tax legislation will not apply to overseas companies, does not apply to of its shares, it can not be levied withholding.
Showing posts with label offshore company. Show all posts
Showing posts with label offshore company. Show all posts
Thursday, March 25, 2010
The world's three largest offshore companies registered in a legal comparative study Serial 9
offshore company share capital
(1) Bermuda at least 12,000 U.S. dollars the company's issued share capital payment. Does not allow no-par value bearer shares and stocks. The full price of the stock may be issued or zero price difference distribution issue.
(2) British Virgin Islands there is no minimum nominal share capital or issue equity capital. International Business Companies must be Limited, can virtual office issue bearer or bearer shares, regardless of whether the face value of the stock. The full price of the stock to be issued, but also can determine their commitment to promissory notes or other debt issued in writing.
(3), the Cayman Islands. There is no minimum nominal share capital or issue equity capital. Company should pay the government an annual fee based on its nominal share capital (up to 50,000 U.S. dollars) to pay. Allow bearer shares with no par value shares; can be full price issue, post issue or zero price distribution.
Offshore company's annual expenses and income
(1) Bermuda. Off the coast of the company should be established and after a year in January to pay (if set up in August 31 then the annual cost after the half). Charges based on the number of nominal share capital and share premium issued the number of terms, at least 1, 780 U.S. dollars, up to 27,825 U.S. dollars. Companies are required to report annual income returns, lists the company's main business (according to the classification provisions), as of August 31 detailing the previous year's estimated capital companies.
(2) British Virgin Islands called on the international business company from its inception in the year May 31 or November 30 (depending on date of establishment in the first half or second half of the decision) to the British Virgin Islands Registrar of Companies pay a fee , sliding fee based on equity capital derived: a. equity capital is equal to or less than 50,000 dollars, to pay 300 U.S. dollars. b. equity capital is greater than 50,000 dollars, to pay 1,000 U.S. dollars. c. need to complete the annual income declaration form.
(3), the Cayman Islands. Require the establishment of overseas companies and the subsequent payment of a fee each year in January. Contributions Standard According to the company type and the number of equity capital may be calculated. January each year, overseas companies must fill in income declaration form. In addition, foreign companies need to confirm the outline of his company have not changed, the company main business is conducted outside in the Cayman Islands, the Cayman Islands, at least once within the Board of Directors.
(1) Bermuda at least 12,000 U.S. dollars the company's issued share capital payment. Does not allow no-par value bearer shares and stocks. The full price of the stock may be issued or zero price difference distribution issue.
(2) British Virgin Islands there is no minimum nominal share capital or issue equity capital. International Business Companies must be Limited, can virtual office issue bearer or bearer shares, regardless of whether the face value of the stock. The full price of the stock to be issued, but also can determine their commitment to promissory notes or other debt issued in writing.
(3), the Cayman Islands. There is no minimum nominal share capital or issue equity capital. Company should pay the government an annual fee based on its nominal share capital (up to 50,000 U.S. dollars) to pay. Allow bearer shares with no par value shares; can be full price issue, post issue or zero price distribution.
Offshore company's annual expenses and income
(1) Bermuda. Off the coast of the company should be established and after a year in January to pay (if set up in August 31 then the annual cost after the half). Charges based on the number of nominal share capital and share premium issued the number of terms, at least 1, 780 U.S. dollars, up to 27,825 U.S. dollars. Companies are required to report annual income returns, lists the company's main business (according to the classification provisions), as of August 31 detailing the previous year's estimated capital companies.
(2) British Virgin Islands called on the international business company from its inception in the year May 31 or November 30 (depending on date of establishment in the first half or second half of the decision) to the British Virgin Islands Registrar of Companies pay a fee , sliding fee based on equity capital derived: a. equity capital is equal to or less than 50,000 dollars, to pay 300 U.S. dollars. b. equity capital is greater than 50,000 dollars, to pay 1,000 U.S. dollars. c. need to complete the annual income declaration form.
(3), the Cayman Islands. Require the establishment of overseas companies and the subsequent payment of a fee each year in January. Contributions Standard According to the company type and the number of equity capital may be calculated. January each year, overseas companies must fill in income declaration form. In addition, foreign companies need to confirm the outline of his company have not changed, the company main business is conducted outside in the Cayman Islands, the Cayman Islands, at least once within the Board of Directors.
The world's three largest offshore companies registered in a legal comparative study Serial 8
offshore company shareholders
(1) Bermuda. Foreign companies must be held each calendar year, shareholders. Unless otherwise provided in the articles of incorporation, the shareholders attending the General Assembly, only one person can be held valid. Annual General Meeting or special meetings of the notification should be at least five days before the service at the beginning of the session, less than 5 days notice should be given the approval of shareholders. Articles of Association may provide for a longer period of notice. Holding not less than 10% of the paid equity capital of the request of shareholders, directors shall preside over the convening of the Extraordinary General Meeting. General meeting of shareholders can not be held in Bermuda.
(2) British Virgin Islands. International Business Companies do not hold annual general meeting of shareholders. General meeting of shareholders minimum period of seven days virtual office notice. Company outline, or charter may provide for a longer period of notice. According to a 50% (the company charter may provide an outline, or a lower ratio) more of the voting power of the written request of shareholders, directors shall preside over the convening of the Extraordinary General Meeting. General meeting of shareholders can not be held British Virgin Islands.
(3) of the Cayman Islands do not have to be held by overseas companies annual general meeting of shareholders. Unless a company outline and the statutes provide otherwise, shareholders of the General Assembly to inform the shortest period of five days, the shareholders of the General Assembly may be convened by the three shareholders. General meeting of shareholders held in the Cayman Islands can not.
(1) Bermuda. Foreign companies must be held each calendar year, shareholders. Unless otherwise provided in the articles of incorporation, the shareholders attending the General Assembly, only one person can be held valid. Annual General Meeting or special meetings of the notification should be at least five days before the service at the beginning of the session, less than 5 days notice should be given the approval of shareholders. Articles of Association may provide for a longer period of notice. Holding not less than 10% of the paid equity capital of the request of shareholders, directors shall preside over the convening of the Extraordinary General Meeting. General meeting of shareholders can not be held in Bermuda.
(2) British Virgin Islands. International Business Companies do not hold annual general meeting of shareholders. General meeting of shareholders minimum period of seven days virtual office notice. Company outline, or charter may provide for a longer period of notice. According to a 50% (the company charter may provide an outline, or a lower ratio) more of the voting power of the written request of shareholders, directors shall preside over the convening of the Extraordinary General Meeting. General meeting of shareholders can not be held British Virgin Islands.
(3) of the Cayman Islands do not have to be held by overseas companies annual general meeting of shareholders. Unless a company outline and the statutes provide otherwise, shareholders of the General Assembly to inform the shortest period of five days, the shareholders of the General Assembly may be convened by the three shareholders. General meeting of shareholders held in the Cayman Islands can not.
The world's three largest offshore companies registered in a legal comparative study Serial 7
The world's three largest offshore companies registered in a legal comparative study Serial 7
The directors and senior management personnel and compensation exemption
(1) Bermuda. According to the Bermuda Companies Act, articles of association or the senior management of the Company and any agreement or arrangement reached between the compensation for corporate officers may be waived, or due to negligence, fault, breach of contract or breach of fiduciary responsibility or liability arising from the loss. But does not include fraud and infidelity.
(2) British Virgin Islands British Virgin Islands Companies Law provides that directors and senior management staff can not be exempt according to the company outline, or charter, management, business arising from personal responsibility. However, if they are the best interests of the company's good faith in order to work, the company can compensate the losses they have suffered. Involved in criminal proceedings as a director or senior management there was no reasonable virtual office cause to believe their behavior is illegal, then the company can compensate them.
(3), the Cayman Islands. The Cayman Islands Companies Law does not limit the company's charter to the company's senior management officers and directors of the compensation level. The only exception is provided by the Cayman Islands court ruled that whether the provision of certain damages contrary to public policy (such as compensation for a crime, infidelity, malicious negligence or fault caused by the loss).
The directors and senior management personnel and compensation exemption
(1) Bermuda. According to the Bermuda Companies Act, articles of association or the senior management of the Company and any agreement or arrangement reached between the compensation for corporate officers may be waived, or due to negligence, fault, breach of contract or breach of fiduciary responsibility or liability arising from the loss. But does not include fraud and infidelity.
(2) British Virgin Islands British Virgin Islands Companies Law provides that directors and senior management staff can not be exempt according to the company outline, or charter, management, business arising from personal responsibility. However, if they are the best interests of the company's good faith in order to work, the company can compensate the losses they have suffered. Involved in criminal proceedings as a director or senior management there was no reasonable virtual office cause to believe their behavior is illegal, then the company can compensate them.
(3), the Cayman Islands. The Cayman Islands Companies Law does not limit the company's charter to the company's senior management officers and directors of the compensation level. The only exception is provided by the Cayman Islands court ruled that whether the provision of certain damages contrary to public policy (such as compensation for a crime, infidelity, malicious negligence or fault caused by the loss).
The world's three largest offshore companies registered in a legal comparative study Serial 6
offshore company board meetings
(1) Bermuda. Board meetings do not have to be held in Bermuda. Articles of association usually provide that the directors may, when it deems appropriate in its trading and management meetings. Board meeting notice must be sent to all the directors. Board meeting, two directors to the can only be effective.
(2) British Virgin Islands do not have to board meeting was held in the British Virgin Islands. Each board meeting the directors must be received before the start of three days notice of meeting. Quorum for a meeting of directors by the Company or the regulations of the outline. Directors may virtual office also be based on the written consent of the majority of the directors to take action.
(3), the Cayman Islands. Board meeting of each calendar year must be in the Cayman Islands, be held. To participate in board meetings can be an agent. Notices of meetings subject to the provisions of the articles of incorporation to send. Unless otherwise provided in the articles of incorporation, board meeting or their respective meetings of the Committee is only one case of the directors present may also be held valid.
(1) Bermuda. Board meetings do not have to be held in Bermuda. Articles of association usually provide that the directors may, when it deems appropriate in its trading and management meetings. Board meeting notice must be sent to all the directors. Board meeting, two directors to the can only be effective.
(2) British Virgin Islands do not have to board meeting was held in the British Virgin Islands. Each board meeting the directors must be received before the start of three days notice of meeting. Quorum for a meeting of directors by the Company or the regulations of the outline. Directors may virtual office also be based on the written consent of the majority of the directors to take action.
(3), the Cayman Islands. Board meeting of each calendar year must be in the Cayman Islands, be held. To participate in board meetings can be an agent. Notices of meetings subject to the provisions of the articles of incorporation to send. Unless otherwise provided in the articles of incorporation, board meeting or their respective meetings of the Committee is only one case of the directors present may also be held valid.
The world's three largest offshore companies registered in a legal comparative study Serial 5
offshore company shareholders and shareholder register
(1) Bermuda. Foreign companies have at least one shareholder. Can have on behalf of the shareholders (Nominee Shareholders). All shareholders of foreign companies must be registered in the register of shareholders. Register must be saved in the company's registered address a public inspection (except for mutual fund companies).
(2) British Virgin Islands international business company should have at least one shareholder. Can have the name of the shareholders. International Business virtual office Companies must set up the register of shareholders. In the company's registered address should be stored in a register of shareholders, but are not available for public inspection, unless the shareholder register has been submitted to the British Virgin Islands Companies Registry.
(3), the Cayman Islands. Foreign companies have at least one shareholder can have the name of the shareholders. Overseas companies the names of all shareholders must be recorded in the register of shareholders. Register of shareholders do not have to save the company registered address, and need for public inspection.
(1) Bermuda. Foreign companies have at least one shareholder. Can have on behalf of the shareholders (Nominee Shareholders). All shareholders of foreign companies must be registered in the register of shareholders. Register must be saved in the company's registered address a public inspection (except for mutual fund companies).
(2) British Virgin Islands international business company should have at least one shareholder. Can have the name of the shareholders. International Business virtual office Companies must set up the register of shareholders. In the company's registered address should be stored in a register of shareholders, but are not available for public inspection, unless the shareholder register has been submitted to the British Virgin Islands Companies Registry.
(3), the Cayman Islands. Foreign companies have at least one shareholder can have the name of the shareholders. Overseas companies the names of all shareholders must be recorded in the register of shareholders. Register of shareholders do not have to save the company registered address, and need for public inspection.
The world's three largest offshore companies registered in a legal comparative study Serial 4
offshore company Directors, senior management and representatives of
(1) Bermuda. Abroad shall not be less than two directors of the company. The company may appoint (a) two directors, or (b) a secretary and a director, or (c) a secretary and a Permanent Representative, they must be permanent in the Bermuda individuals. Listed companies only need to appoint a Permanent Representative. Does not allow legal director of the virtual office Company. Foreign companies must also appoint a president and a vice president, or the appointment of a chairman and a vice chairman.
(2) British Virgin Islands international business company must have at least one director. Directors may not be residents of the British Virgin Islands. Allow corporate director of the Company. Did not appoint a senior management explicitly required. International Business Companies must have a Chartered agency.
(3) of the Cayman Islands should be at least one director of overseas companies. Directors may not be residents of the Cayman Islands. Allow corporate director of the Company. Overseas companies are required by statute with the appropriate senior management.
(1) Bermuda. Abroad shall not be less than two directors of the company. The company may appoint (a) two directors, or (b) a secretary and a director, or (c) a secretary and a Permanent Representative, they must be permanent in the Bermuda individuals. Listed companies only need to appoint a Permanent Representative. Does not allow legal director of the virtual office Company. Foreign companies must also appoint a president and a vice president, or the appointment of a chairman and a vice chairman.
(2) British Virgin Islands international business company must have at least one director. Directors may not be residents of the British Virgin Islands. Allow corporate director of the Company. Did not appoint a senior management explicitly required. International Business Companies must have a Chartered agency.
(3) of the Cayman Islands should be at least one director of overseas companies. Directors may not be residents of the Cayman Islands. Allow corporate director of the Company. Overseas companies are required by statute with the appropriate senior management.
The world's three largest offshore companies registered in a legal comparative study Serial 3
offshore company organize your files
(1) Bermuda. Of overseas companies including the company's organizational document outlines and articles of association (Bylaws). Outline the provisions of the company's business scope of foreign terms and power. Companies generally use the Bermuda Companies Act contained in Article II of the standard operating range. Unless expressly excluded, otherwise the Bermuda Companies Act will also use the standards contained in Article I powers. The company required to virtual office submit the outline prepared by Companies Registry for public inspection. Corporate charter of the company and shareholders and senior managers between the rights and obligations, not submitted to the Companies Registry, the public can not access.
(2) British Virgin Islands international business company's organizational documents including the outline and the company's charter. Commitments need to include the company name, registered address, registered name and address of the agency, company objectives, capital structure and other details. In addition, the company will need to submit a not engage in the British Virgin Islands Company Law 5 (1) of the activities listed in the statement (other than to obtain special permission). To the Registrar of Companies to submit the outline of registration must also submit the articles of incorporation, both of which are available for public inspection.
(3), the Cayman Islands. The company's organizational documents including the outline and the company's charter. Outline must specify the company name and registered address, but also may include the company's business scope. Unless there is a clear outline restrictions on overseas companies can exercise all the powers of a natural person can exercise. If not registered with the Registrar of Companies articles of association, the Cayman Islands Companies Law applicable to Form A, requirements. Corporate charter of the company and shareholders and senior managers between the rights and obligations. Incorporation generally not available for public inspection.
(1) Bermuda. Of overseas companies including the company's organizational document outlines and articles of association (Bylaws). Outline the provisions of the company's business scope of foreign terms and power. Companies generally use the Bermuda Companies Act contained in Article II of the standard operating range. Unless expressly excluded, otherwise the Bermuda Companies Act will also use the standards contained in Article I powers. The company required to virtual office submit the outline prepared by Companies Registry for public inspection. Corporate charter of the company and shareholders and senior managers between the rights and obligations, not submitted to the Companies Registry, the public can not access.
(2) British Virgin Islands international business company's organizational documents including the outline and the company's charter. Commitments need to include the company name, registered address, registered name and address of the agency, company objectives, capital structure and other details. In addition, the company will need to submit a not engage in the British Virgin Islands Company Law 5 (1) of the activities listed in the statement (other than to obtain special permission). To the Registrar of Companies to submit the outline of registration must also submit the articles of incorporation, both of which are available for public inspection.
(3), the Cayman Islands. The company's organizational documents including the outline and the company's charter. Outline must specify the company name and registered address, but also may include the company's business scope. Unless there is a clear outline restrictions on overseas companies can exercise all the powers of a natural person can exercise. If not registered with the Registrar of Companies articles of association, the Cayman Islands Companies Law applicable to Form A, requirements. Corporate charter of the company and shareholders and senior managers between the rights and obligations. Incorporation generally not available for public inspection.
The world's three largest offshore companies registered in a legal comparative study Serial 2
offshore company to set up the procedures
(1) Bermuda. Bermuda Monetary Authority is required to submit an application form and related information on overseas companies to obtain approval. Company outline should be submitted to the Registrar of Companies (Registrar) register. The Companies Registry is responsible for issuing proof of the company was established. Companies to set up procedures may generally be completed within a day or two.
(2) British Virgin Islands Registrar of Companies are required to submit articles of association (Articles) and outline, but also to submit a deal with the company responsible for matters relating to the establishment of a lawyer or the company registration certificate issued by the agency to confirm the formation of the company's full in line with the British Virgin Islands company law requirements. Companies to set up procedures may generally be completed within 24 hours.
(3), the Cayman Islands. The Registrar of Companies in general are virtual office required to submit two companies signed the outline. Intended to serve as the director of an overseas company to the Registrar of Companies must also submit a statement confirming that the overseas company's business activities will be largely outside the Cayman Islands. Companies to set up procedures may generally be completed within 24 hours.
(1) Bermuda. Bermuda Monetary Authority is required to submit an application form and related information on overseas companies to obtain approval. Company outline should be submitted to the Registrar of Companies (Registrar) register. The Companies Registry is responsible for issuing proof of the company was established. Companies to set up procedures may generally be completed within a day or two.
(2) British Virgin Islands Registrar of Companies are required to submit articles of association (Articles) and outline, but also to submit a deal with the company responsible for matters relating to the establishment of a lawyer or the company registration certificate issued by the agency to confirm the formation of the company's full in line with the British Virgin Islands company law requirements. Companies to set up procedures may generally be completed within 24 hours.
(3), the Cayman Islands. The Registrar of Companies in general are virtual office required to submit two companies signed the outline. Intended to serve as the director of an overseas company to the Registrar of Companies must also submit a statement confirming that the overseas company's business activities will be largely outside the Cayman Islands. Companies to set up procedures may generally be completed within 24 hours.
The world's three largest offshore companies registered in a legal comparative study Serial 1
Currently Bermuda (Bermuda), Cayman Islands (Cayman Islands) and the British Virgin Islands (BVI - British Virgin Islands) is the world's largest number of business registration of the three offshore companies registered. In this article focuses on the Bermuda Companies Act 1981 (the "Bermuda Companies Act"), the Cayman Islands Companies Act 2000, revised edition (the "Cayman Islands Companies Law"), and the British Virgin Islands International Business Companies Act, 1984 ( referred to as "the British Virgin Islands Company Law"). This article refers to offshore companies Co., Ltd., a company that outline (Memorandum of Association) contains the standard terms of business scope of Bermuda and the Cayman Islands, an overseas company ( "Exempted Companies"), as well as the British Virgin Islands International virtual office Business Companies ( "International Business Company" or "IBC").
The approval of the establishment of offshore companies
(1) Bermuda. All overseas companies to issue or transfer of shares must be approved by the Bermuda Monetary Authority, the beneficiary must be open to the finance bureau status. Together with the application to submit all information (outline of the information contained in the company except for) is not open to the public. Some business activities may require permits or special authorization.
(2) British Virgin Islands. The formation of the company without government approval. However, some business activities may require permits or registration.
(3), the Cayman Islands. The formation of the company without government approval, but some business activities may require permits or registration.
The approval of the establishment of offshore companies
(1) Bermuda. All overseas companies to issue or transfer of shares must be approved by the Bermuda Monetary Authority, the beneficiary must be open to the finance bureau status. Together with the application to submit all information (outline of the information contained in the company except for) is not open to the public. Some business activities may require permits or special authorization.
(2) British Virgin Islands. The formation of the company without government approval. However, some business activities may require permits or registration.
(3), the Cayman Islands. The formation of the company without government approval, but some business activities may require permits or registration.
Teng in the Heavy may be set up offshore companies for the acquisition of Hummer
Top 21 in Heavy Teng said the company is likely to establish an offshore investment company, to facilitate their acquisition of the Hummer brand, off-shore company's principal shareholders will be in Sichuan Province Tang, Xu-Guang Li, chairman of resources Yandeng will hold a minority interest.
According to China news agency reported July 22, Sichuan, China Tang in the top 21 Heavy Industry Machinery Co., Ltd., said the company is likely to establish an offshore investment company, to facilitate their acquisition of GM's Hummer brand. virtual office Sichuan Teng announced intention to acquire a Hummer nearly 2 months, yet have made positive progress in Teng-Commerce and Development and Reform Commission has to submit the application documents, the relevant departments are still in this transaction for approval.
Reuters quoted Tang in the high-level condition of anonymity as saying, this offshore company's major shareholders will be the Sichuan Tang, the other has been considered to be controlled behind the scenes in Sichuan Province Tang's chairman Lee Yandeng Xuguang resources will be holds a minority stake.
Kyoko resources in Proton announced intention to acquire Hummer successfully listed in Hong Kong after being questioned, the financing market, "to buy horses," but the company has said it is interested in acquiring Hummer deal is its chairman, rather than the resource itself kyoko.
The executives also said that Proton is currently in heavy industry had not yet begun to establish procedures for the special purpose company, as the most important thing was that we must first wait until the completion of the transaction.
July 23, according to China news agency reported in the media report "Heavy Teng in the possible establishment of an offshore investment company, to facilitate their acquisition of GM's Hummer brand," the news of swirling speculation occasion, another media be exposed the acquisition news: Recently, Teng will be formally signed in Heavy Hummer merger agreement, offshore company Morgan Stanley will provide a full purchasing funds.
According to China's current rules, if the Chinese companies to build Hummer factory in China must be approved by Development and Reform Commission. If the Tang in China's domestic investors to purchase from the troubled American brand, but also must be approved by the Ministry of Commerce.
Prior to this, there is news that Proton may have been purchased Hummer off-shore, so do not need to be approved by Chinese Ministry of Commerce. At present, there are media reports that the Ministry of Commerce has been acquired Proton Hummer project a green light.
Before, the industry that because Hummer is a gas-guzzling cars, do not meet national energy-saving environmentally friendly theme of the acquisition of foreign companies not in line with the theme of domestic merger and reorganization, it received regulatory approval is unlikely. But the Commerce Department has previously said the acquisition of Proton Heavy interest in a normal and rational behavior. Can be seen in the acquisition of the Ministry of Commerce of the Proton Hummer is not opposed to their views.
Hummer recently in Tianjin in the research done in the steam tests show that: "Hummer H4 fuel oil in the 13 or so, less than the Land Rover." While the fuel consumption problem, it is precisely Development and Reform Commission can not be Hummer-made key issues.
It is reported that Teng in the Heavy and General Motors Hummer asset price negotiations because of disagreement, the time has finally signed a postponed repeatedly. 23, this well-informed sources revealed to the media once again, with General Motors, Proton will be 28 July to 5 August acquisition of the treaty signed between.
According to China news agency reported July 22, Sichuan, China Tang in the top 21 Heavy Industry Machinery Co., Ltd., said the company is likely to establish an offshore investment company, to facilitate their acquisition of GM's Hummer brand. virtual office Sichuan Teng announced intention to acquire a Hummer nearly 2 months, yet have made positive progress in Teng-Commerce and Development and Reform Commission has to submit the application documents, the relevant departments are still in this transaction for approval.
Reuters quoted Tang in the high-level condition of anonymity as saying, this offshore company's major shareholders will be the Sichuan Tang, the other has been considered to be controlled behind the scenes in Sichuan Province Tang's chairman Lee Yandeng Xuguang resources will be holds a minority stake.
Kyoko resources in Proton announced intention to acquire Hummer successfully listed in Hong Kong after being questioned, the financing market, "to buy horses," but the company has said it is interested in acquiring Hummer deal is its chairman, rather than the resource itself kyoko.
The executives also said that Proton is currently in heavy industry had not yet begun to establish procedures for the special purpose company, as the most important thing was that we must first wait until the completion of the transaction.
July 23, according to China news agency reported in the media report "Heavy Teng in the possible establishment of an offshore investment company, to facilitate their acquisition of GM's Hummer brand," the news of swirling speculation occasion, another media be exposed the acquisition news: Recently, Teng will be formally signed in Heavy Hummer merger agreement, offshore company Morgan Stanley will provide a full purchasing funds.
According to China's current rules, if the Chinese companies to build Hummer factory in China must be approved by Development and Reform Commission. If the Tang in China's domestic investors to purchase from the troubled American brand, but also must be approved by the Ministry of Commerce.
Prior to this, there is news that Proton may have been purchased Hummer off-shore, so do not need to be approved by Chinese Ministry of Commerce. At present, there are media reports that the Ministry of Commerce has been acquired Proton Hummer project a green light.
Before, the industry that because Hummer is a gas-guzzling cars, do not meet national energy-saving environmentally friendly theme of the acquisition of foreign companies not in line with the theme of domestic merger and reorganization, it received regulatory approval is unlikely. But the Commerce Department has previously said the acquisition of Proton Heavy interest in a normal and rational behavior. Can be seen in the acquisition of the Ministry of Commerce of the Proton Hummer is not opposed to their views.
Hummer recently in Tianjin in the research done in the steam tests show that: "Hummer H4 fuel oil in the 13 or so, less than the Land Rover." While the fuel consumption problem, it is precisely Development and Reform Commission can not be Hummer-made key issues.
It is reported that Teng in the Heavy and General Motors Hummer asset price negotiations because of disagreement, the time has finally signed a postponed repeatedly. 23, this well-informed sources revealed to the media once again, with General Motors, Proton will be 28 July to 5 August acquisition of the treaty signed between.
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