LAVECO LT D.

® Member of

Legal Solutions since 1991 International Tax Planning

Association

Fiduciary Services
Frequently Asked Questions,
Pricelist

www.laveco.com

CYPRUS HONG KONG HUNGARY BULGARIA SEYCHELLES UAE

LAVECO LIMITED LAVECO LTD.
Despina Sofia Complex Office Unit No.6, 26th F.,
Ap. 102, 8 Inomenon Ethnon Kin Sang Commercial Centre
Drosia 6042, Larnaca, Cyprus No. 49 King Yip Street
Tel.: +357-24-636-919 Kwun Tong, Hong Kong
Fax: +357-24-636-920 Tel.: + 852-2388-8049
cyprus@laveco.com Fax: +852-2388-2960
hongkong@laveco.com
LAVECO KFT. LAVECO EOOD
33/a Raday street, 104 Akad. Ivan Geshov Blvd
1092 Budapest, Entrance A, 5th Floor, Office 8,
Hungary 1612 Sofia, Bulgaria
Tel.: +36-1-456-72-00 Tel.: +359-2-953-2989
Fax: +36-1-456-72-01 Mob: +359-888-126-013
hungary@laveco.com Fax: +359-2-953-3502
bulgaria@laveco.com
LAVECO LTD. LAVECO
MIDDLE EAST FZC
Suite 2, Olivier Maradan Bld. Conrad Dubai, 19th Floor,
Olivier Maradan Street,Victoria Sheikh Zayed Road
Mahé, Seychelles Dubai S610 UAE
Tel.: +248-4-322-261 Tel.: +971-4-3827-758
Fax: +248-4-324-932 Mob.: +971-50-173-4428
seychelles@laveco.com Fax: +971-4-3266-202
middleeast@laveco.com

01/2019
 LAVECO LT D.
Legal Solutions since 1991

F iduciary Services

Frequently Asked Questions

What are “Fiduciary Services”?

“Fiduciary services”, literally speaking, are services based on trust between two or more parties. In real-
ity, we take this term to mean the general professional management services provided by the LAVECO
Group of companies, which in practice means the signing of contracts, opening and operating of bank
accounts, issuing of invoices, administration of accounting documentation and general representation
before the local authorities on behalf of the company in accordance with the instructions of the client.

Why is it necessary?
Use of these services is indispensable in cases where local legislation requires the management of the
company to take place in the country of registration and the client is unable to satisfy this requirement
independently.

Who needs Fiduciary Services?

All our clients who, regardless of their other interests, wish to operate their companies in accordance with
the requirements of the law and without any conflict of interest.

Why is this beneficial to me?

Using “Fiduciary services” in a company registered in any jurisdiction (Hong Kong, Seychelles, Belize,
Cyprus etc.) gives you the benefit of having the company managed and
your instructions monitored and carried out in accordance with your
wishes by a professional service provider physically independent of you.

Can I, as the client, have trust in the services of

LAVECO Ltd.?
Naturally, the answer is YES. The strict company policy, professional team
of experts and more than 20 years of experience mean a 100% guarantee
and 100% trustworthiness for you.

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 LAVECO LT D.

F iduciary Services

How can I order such services with LAVECO Ltd.?

Initially, the LAVECO staff will inform you of the terms and conditions of the contract, either in a per-
sonal meeting or in a conference call. As these services are based on trust on both sides, it is important for
LAVECO Ltd. to fully understand your future business plans and expectations with regards to LAVECO
Ltd. Based on this, we will outline the possible ways in which we can became an effective partner in the
operation of your company. Furthermore, we will give detailed information on the technical side of how
everyday transactions will be performed and how and with whom you will be dealing once you start us-
ing the services.
The Fiduciary Services begin with the signing of a very detailed and thorough contract, covering all as-
pects of our cooperation. You will receive a copy of the text in advance to allow you time to go through it.

Why are so many documents needed before the services can begin?
The main aim of the document package is to provide complete security for you the client. The contract
and appendices we provide clearly show that under all circumstances the company and assets in question
are yours, and that LAVECO and its employees are merely managing or operating the company.

Why is it necessary to identify the

beneficial owner? isn’t this supposed to
be a discrete, confidential service?
Yes, obviously this is very much a confidential service.
However, anti-money laundering legislation requires
confidential service providers and the banks to identify
exactly who the real or beneficial owners of a company
are based on the appropriate documentation (passport,
bank reference letter, proof of residential address etc.).

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 LAVECO LT D.
Legal Solutions since 1991

F iduciary Services

Why is it necessary to identify the beneficial owner’s heirs?

Unexpected events can happen in anybody’s life at any time, which is why LAVECO Ltd. would like to
clarify from the very beginning who would inherit your assets in the event that anything happens to you.
Naturally, we can also offer alternative asset protection vehicles such as private foundations and trusts,
which may provide solutions not only in regard to the company managed by us within the framework of
Fiduciary Services, but also in regard to other assets as well.

Why are code words required?

The use of code words guarantees your security. Whenever an
instruction is sent, you always send a different code word (the next
one on the list), and when confirmation is required by telephone, this
also takes place through the code words agreed by both parties. In
this way we eliminate the possibility of unauthorised parties sending
us instructions.

Why are personal details such as wedding dates required?

Imagine a situation where you are in a position where you urgently need to send us an instruction, but
do not have access to your list of code words. In this case, you can still give full instructions to our staff,
once we have verified your identity by checking personal details which could only be known by you and
LAVECO Ltd.

Who will I be in contact with for the everyday running of the company?
You will be in contact with the member of staff responsible for the Fiduciary Services of the LAVECO
Group in our office in Cyprus. The individual concerned is responsible for initiating and carrying out
your instructions.

How can I give instructions for a transaction to be made?

Performing transactions takes place in writing and by telephone. In order to initiate a transaction, a writ-
ten instruction is compulsory, followed by confirmation by telephone. Both the written instruction and
the telephone confirmation take place with the help of code words.

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 LAVECO LT D.

F iduciary Services

How are contracts signed?

If you would like the staff and lawyers of LAVECO Ltd. to completely draft a contract, then this can be
done by explaining to our colleagues, either in writing or verbally, the main details of the contract. After
this, a draft version will be prepared and sent to you for checking and approval. If you draft the contract
yourself, this must be forwarded to LAVECO Ltd. for approval by our Compliance Department. Once
the contract has been approved by the Compliance Department, it is forwarded to the director of the
company to be signed. If the Compliance Department decide that amendments need to be made, or have
other suggestions regarding the contract, then a draft will be returned to you by the staff at LAVECO Ltd.
Following the final agreement between the parties, the document(s) will be forwarded to the director to
be signed.

How are invoices issued?

Invoices are issued by LAVECO Ltd. in the name of your company and at your request. The written
request must include all the details necessary for the issuing of the invoice, such as purchaser’s name,
purchaser’s address, invoice number, payment
mode, category of goods/services etc. The repre-
sentative of LAVECO Ltd. then prepares the in-
voice and sends a copy to you for approval. The
original is then sent to the accountant.

How is the accounting material

collected?
Requesting the material required for the keeping
of accounts, bearing in mind the deadlines set
down in the laws and regulations, is the responsibility of the Accounting and Fiduciary Department of
the office of LAVECO Ltd. in Cyprus. The documents required for the accounting and pay-roll (Cyprus)
of the subject month or quarter can be sent by email or by post. Generally, the deadline for sending in the
accounting material, whether it has to be sent monthly or quarterly, is the 10th day of the month following
the subject period.
The documents will be kept in the office of LAVECO Ltd. in Cyprus.
The documentation provided and its content will be treated with strict confidentiality, and no details will
be passed on to third parties.

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 LAVECO LT D.
Legal Solutions since 1991

F iduciary Services

How can I transfer money from the company’s bank account?

Within the framework of Fiduciary Services, we can initiate outgoing transfers if we are in possession
of the supporting background documentation (signed and valid written contract, invoice, bill of lading
etc.). The LAVECO Ltd. employee responsible checks the background documentation, and, provided that
it complies with the requested transaction, authorises the transaction. In the case of any discrepancy, our
staff will contact you immediately to agree a course of action.
Transfers are carried out using e-banking. You and the director appointed by us have joint signature
rights. You fill out the details of the transfer, and inform us by email that a transaction has been recorded
in the banking system and that the transaction has been confirmed on your part. The email must contain
the details of the transaction (recipient, amount) and when it should be made.
If you do not wish to act as a signatory on the account, then the company director will initiate transfers
alone, in accordance with your instructions, and you will receive confirmation by email.

How much does LAVECO Ltd. charge for providing these services?
The Fiduciary Services provided by LAVECO Ltd. are invoiced on a quarterly basis, based on the attached
pricelist, for the periods laid down in the pricelist (yearly, quarterly etc.).
The checking and correction of non-standard contracts is subject to a separate fee, based on time spent.
You will be informed in advance of the expected amount.

Does LAVECO LTD. inform the client if a problem arises with a transaction?
Yes, of course. This is in the interest of both parties. If any problem or technical hitch occurs, then our
staff will contact you immediately in order to resolve the matter as quickly as possible.

Is it possible to have continuous consultation

with the staff of LAVECO Ltd.?
Naturally the answer is YES. The staff in any of the offices of the
LAVECO Group are at the disposal of our clients before and after
the start of the services. And throughout the duration of the services
being offered you have the possibility for personal consultation, pri-
marily with your personal contact person to ensure that your expec-
tations are being met as effectively as possible.

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 Pricelist

Type of Service (price per year)

Country of Registered office,

Nominee Director Nominee shareholder Registered office
registration Company registered agent
and registered
secretary and company
Private individual Legal entity agent
secretary
F iduciary Services

Cyprus 990 EUR 210 EUR 780 EUR

Belize 990 USD 0 USD 780 USD - -

BVI 990 USD 0 USD 890 USD - -

Hong Kong 990 USD 290 USD - - 900 USD

Seychelles 990 USD 0 USD 780 USD - -

LAVECO

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LT D.
 LAVECO LT D.
Legal Solutions since 1991

F iduciary Services

SPECIAL PROFESSIONAL SERVICES

Available packages for fiduciary services Price

Basic
The price is including: 1-2 banking transactions per month, the number
500 EUR/year + VAT
issued invoices 1-2 per month, the number of contracts 1-3 per year,
correspondence address and submission of HE 32.

Medium
The price is including: 1-2 banking transfers per week, the number of issued
1.000 EUR/year + VAT
invoices are 1-2 per week , the number of contracts is about 5-6 per year,
correspondence address and submission of HE 32.

Active
The price is including: 3-5 banking transfers per week, the number of issued
1.500 EUR/year + VAT
invoices are also 3-5 per week, the number of contracts is up to 10 per year,
correspondence address and submission of HE 32.

Active Extra
The price is including: 3-5 banking transfers per week, the number of
issued invoices are 3-5 per week, the number of contracts is up to 10 per 7.500 EUR/year + VAT
year, provision of substance office, two employees, correspondence address,
telephone line and submission of HE 32.

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