Important documents of Offshore Companies

What does it mean when a document is Apostilled?

An apostille certification is a universal certification of a document that will be accepted by certain other countries. The apostille certification is essentially a certification on the notary who has already certified the documents. This is demonstrated by a special stamp or sticker and ribbon that is attached to the set of documents. An apostille is usually issued either by the foreign office or the Supreme Court of the country.
What is a Certificate of Good Standing?
From a certain time after a company has been incorporated (usually after a year), it may be requested at any time to provide what is called a “Certificate of Good Standing.” This certificate is provided by the Registrar of Companies and essentially confirms that the company has met all its administrative requirements and has paid all the governmental fees. It confirms that even though some time has passed since its incorporation, the company is still in existence and “standing strong.” The request for a company to provide a Certificate of Good Standing usually comes from either a bank or could come from anyone who wishes to do business with your company. If the company owners have not made an effort to pay the annual renewal fees or to maintain the company, then it loses its status of good standing and would not be able to attain such a certificate.
What is a Power of Attorney?

A Power of Attorney is a legal document entrusting someone else to perform certain actions on your behalf. The relevance of a Power of Attorney in the offshore company industry pertains to that between the beneficial owner of the company and the nominee director. A Power of Attorney is issued by the nominee director to the beneficial owner so that the owner may continue to run his business legally under his name. If there is more than one beneficial owner of the company, the Power of Attorney may be made out to more than one person, giving a number of people identical power over the company.