Archive for the ‘BVI redomiciliation’ Category

BVI group moves to Guernsey

Saturday, December 5th, 2015

SafeCharge International Group Limited, an international provider of payments services, technologies and risk management solutions to online and mobile businesses, has successfully moved from the British Virgin Islands to Guernsey, with capitalization of about £400 million. Redomiciliation was completed on 30 October, motivated by several factors. One of the main reasons is Guernsey being a base jurisdiction for a number of funds and companies listed on the London Stock Exchange, and its good position for possible future move to the Main Market.

The group has operations in the UK, Cyprus, Bulgaria, Israel, Germany, Austria and Ireland, a diversified, blue chip client base and is a trusted payment partner for customers from various e-commerce verticals.

China Information Technology, Inc. completes reorganization as BVI company

Monday, November 12th, 2012

China Information Technology, Inc. (CNIT), China-based company specializing in geographic information systems (GIS), digital public security technology (DPST), and hospital information systems (HIS), as well as high-end digital display products and solutions in China, announced the completion of the reorganization merger. The purpose of this transaction was to reorganize the company as a British Virgin Islands company.

Pursuant to the merger, each outstanding share of the common stock of China Information Technology was converted into the right to receive one ordinary share of CNIT as a British Virgin Islands company (CNIT BVI).

Ordinary shares of the BVI company are listed on the NASDAQ Global Select Market under the same trading symbol under which the common stock of the company were listed.

China-based company announces redomiciliation to British Virgin Islands

Wednesday, June 27th, 2012

China Information Technology, Inc., the company providing information and display technologies based in China, announced that its Board of Directors has approved redomestication of the company from the State of Nevada to the British Virgin Islands jurisdiction.

A wholly-owned subsidiary of the company, BVI-domiciled China Information Technology, Inc. (CNIT BVI) filed a registration statement on the redomestication transaction and the inclusion of a proposal to approve the transaction at the company’s next annual meeting of stockholders.

The Board of Directors of the company considers that its redomestication to the BVI will bring numerous benefits to the company. The transaction will make CNIT BVI’s shares more attractive to non-U.S. investors and so increase the number of shareholders. As a result of the redomestication, the company can (but not obliged to) dual-list its shares on the Hong Kong Stock Exchange. Also, the company is to be allowed to qualify as a “foreign private issuer” under the rules and regulations of the SEC, and thereby reduce its costs.

After the transaction, if approved by the company’s stockholders, the company is expected to continue to trade on the NASDAQ.

Oxford Business Group re-domiciles from BVI to UK

Tuesday, April 13th, 2010
The Oxford Business Group (OBG) (http://www.oxfordbusinessgroup.com/) stated that voluntary liquidation would not affect its operations in the countries where it is represented. This announcement is part of the procedure to move the company from the British Virgin Islands, which is its current jurisdiction of registration, to the United Kingdom, where it is headquartered.  According to the announcement published in the Dubai-based newspaper Emirates Business, the voluntary liquidation process started on March 18.
The Director of OBG’s Dubai office Rakesh Kunhiraman stated that the company now “is in the process of setting up the business back in the UK, and hence the voluntary liquidation.” Kunhiraman and OBG’s public relations department declined to comment on the impact the moving out of the tax-free British Virgin Islands would have on operational costs and profits. They said that, being a private company, they should not make this information publicly available.
The Director of Dubai office said the group performance was very good in both publishing and consultancy activities, due to advertisements and sponsorships and due to developing reports commissioned by the group’s clients.
The Oxford Business Group publishes annual reports for 30 countries including Dubai, Abu Dhabi, Sharjah, Ajman and Ras Al Khaimah, and provides consultancy services. Three main offices of the group are located in Dubai, UK and Turkey.

The Oxford Business Group (OBG) stated that voluntary liquidation would not affect its operations in the countries where it is represented. This announcement is part of the procedure to move the company from the British Virgin Islands, which is its current jurisdiction of registration, to the United Kingdom, where it is headquartered.  According to the announcement published in the Dubai-based newspaper Emirates Business, the voluntary liquidation process started on March 18.

The Director of OBG’s Dubai office Rakesh Kunhiraman stated that the company now “is in the process of setting up the business back in the UK, and hence the voluntary liquidation.” Kunhiraman and OBG’s public relations department declined to comment on the impact the moving out of the tax-free British Virgin Islands would have on operational costs and profits. They said that, being a private company, they should not make this information publicly available.

The Director of Dubai office said the group performance was very good in both publishing and consultancy activities, due to advertisements and sponsorships and due to developing reports commissioned by the group’s clients.

The Oxford Business Group publishes annual reports for 30 countries including Dubai, Abu Dhabi, Sharjah, Ajman and Ras Al Khaimah, and provides consultancy services. Three main offices of the group are located in Dubai, UK and Turkey.