Archive for the ‘BVI redomiciliation’ Category

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.

Posted in BVI Company management, BVI IBC Business News, BVI redomiciliation | No Comments »

Ireland’s Doyle Group incorporates in the British Virgin Islands

Wednesday, September 30th, 2009

Irish shipping company Doyle Group reported about its decision to move its corporate base to the British Virgin Islands.  After moving  to BVI, it will not be required to publish accounts.  For the purposes of redomiciliation, the company has created a new holding – Doyle Group Investments – registered in Tortola, British Virgin Islands.  It has also given notice about the change of the status of its Irish firms to unlimited, waiving its obligation to file annual accounts in Ireland.

The Doyle Group is a major shareholder in ferries operator Irish Continental, and was one half of the One51 consortium that pursued a lengthy bid for the shipping group, which ultimately failed after a standoff between the consortium, owners of Irish Continental and property tycoon Liam Carroll.

According to the Group’s last published accounts, it had losses of over E300,000 for the full year after borrowing  E100 million to buy shares in ICG, and to acquire three companies. The group’s turnover increased from E27.9 million to E30 million, but operating and net profit fell “due to increasing costs”. According to the group’s listed investments, its market value in 2007 made E48 million.

Posted in BVI Company Formation, BVI Holding Companies, BVI redomiciliation | No Comments »

Nevada-based Man Sang Holdings reorganized under BVI law

Monday, September 21st, 2009

The majority of stockholders of Nevada corporation Man Sang Holdings, Inc. approved corporate reorganization to change the place of incorporation from Nevada to the British Virgin Islands. According to this decision, Man Sang Nevada is dissolved and liquidated pursuant to the terms of an agreement and plan of liquidation entered into with Man Sang International (BVI) Limited, which is the wholly owned subsidiary of Nevada corporation. Upon the reorganization of Man Sang Nevada as a British Virgin Islands company, Man Sang International (B.V.I.) Limited started trading on the NYSE Amex on August 26, 2009 under the symbol “MHJ.”

Under the terms of agreement, at company’s closing on August 25, 2009, each share of Man Sang Nevada’s common stock automatically converted into the right to receive an ordinary share of Man Sang BVI, and each share of Man Sang Nevada’s preferred stock converted into a right to receive a preferred share of Man Sang BVI. As a result of the reorganization, the number of ordinary and preferred shares in Man Sang BVI owned by each shareholder is the same as the number of common and preferred shares previously owned by Nevada company.

Man Sang International (B.V.I.) Limited, through its subsidiaries, is engaged in the purchase, processing, assembling, merchandising and distribution of pearls and jewelry products. Also, the company owns and operates commercial real estate in Hong Kong and PRC.

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Aurora Metals (BVI) Limited transfers to British Columbia

Sunday, May 11th, 2008

Aurora Platinum Exploration, formerly Aurora Metals (BVI) Limited, announced on May 6, 2008 that it has transferred out of the jurisdiction of the BVI, and incorporated in British Columbia, Canada. Also, the company has changed its name to Aurora Platinum Exploration Inc. Both changes came into effect on May 5, being the requirements under the arrangement agreement with Nevoro Inc., pursuant to which Nevoro will acquire 100% of the common shares of Aurora. Holders of more than 50% of Aurora common shares have entered into voting agreements with Nevoro and will vote their common shares for the plan of arrangement, which is expected to complete until July 31, 2008.

Aurora Platinum Exploration (formerly BVI company) is focused on mineral exploration and development of its properties in Montana. In the mid of April, it announced Settlement Agreement with Trend Mining Company, having obtained the termination of the joint venture agreement and release of all the claims of interest to its property.

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