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IBN Recruitment

Work at German Call Center?

We are looking urgently for German speaking Call Center Agents for the wider area of Cape Town! The necessary Work Permit can be organised at the same time.

IBN Offshore

Seychelles (IBC)

The Seychelles recently made a number of amendments to its International Business Companies (IBC) legislation, which will be enforced from 1 January 2013. The key amendments to the Act that clients should be aware of require an IBC to:

- Keep its share register and register of directors (or a copy) in the Seychelles

- Notify its Seychelles Registered Agent of the physical address (may be outside of the jurisdiction) where its minutes and resolutions are kept

- Notify its Seychelles Registered Agent of the physical address (which may be outside of the jurisdiction) where its financial records are kept

Contraventions of the amendments are subject to a daily penalty of USD25. A director of an IBC who knowingly permits a contravention is also subject to the same daily penalty. For any questions, please do not hesitate to contact IBN Offshore at dubai@ibn.co.za!

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News Highlight
23rd Apr 2012

BRICS Development Bank gets Green Light

In a first step to set up a development bank as counterweight to the US/EU-led World Bank and the IMF, the Finance Ministers of the BRICS member countries have met up this weekend on sidelines of the annual Spring Meeting of the World Bank and the IMF to discuss this important step.

In their consultations South Africa and other members of BRICS grouping have agreed on Sunday 22 April 2012 to establish a task force to come up with recommendations to set up a developmental bank, a move ...[MORE]

>> IBN News-Archive

Exchange Rates

EUR: 10.61
USD: 8.37
GBP: 13.25
CHF: 8.83
AUD: 8.29
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Rates are compliment of the ECB and will be updated once a day on weekdays only.

Date & Weather

Date: 17.05.2012
Time: 23:13

Capetown:

Temp.: 17 °C / 63 °F
Wind: NNW / 14 kn
Sunrise: 07:05
Sunset: 18:19

Johannesburg:

Temp.: 14 °C / 57 °F
Wind: NWW / 5 kn
Sunrise: 06:14
Sunset: 17:52
IBN - Company Setup: Trusts

Trusts

Trusts are legal entities that do not have an owner, but a founder who brings the trust into existence, one or more trustees, who administer the affairs of the trust and one or more beneficiaries, who enjoy the benefits of the trust. In South Africa there is a wide variety of dufferent types of trusts, ranging from family trusts to business trusts and from discretionary trusts to non-discretionary trusts. Though trusts attract a high tax rate for their earnings they are regarded as a very good vehicle to protect assets.

IBN Consulting offers the following services:

  • Consulting about the possibilities to design a trust
  • Draft of the trust deed for family trusts, business trusts, inter vivos trusts and trusts causa mortem
  • Tax registration for trusts (Income Tax, VAT)
  • Amendment to trust deeds
  • Attending to the issuing of letters of authorisation
  • Opening of bank accounts
  • Compliance with FICA regulations