Digg it UP - Business

Business in China #1 - Relaxing The Grip of Bureaucracy
Picture Beijing in the early 1990’s – a strong visual presence of communism in the typical courtyard-style housing (12 families housed in a block built around a central yard), grey Mao suits everywhere, almost no neon advertising signs and only occasional cars and mini-vans on the streets. In those days there were two currencies: Yuan and FEC(Foreign Exchange Currency) available only to foreigners, with a lower exchange rate than Yuan (1$=8.9yuan, 1$=7.4FEC). Strong government control, exacerbated by the recent happenings on Tiananmen Square, meant that getting to know Chinese people was almost impossible - they were not allowed to enter hotels and so had no exposure to foreign goods and lifestyle, which were only available in hotels.The mid-90’s brought new perspectives and possibilities to China. Private ownership was booming, bringing changes in life style and rapid expansion overnight in the car industry, service industries, street advertising and real estate. A foreigner wanting to take advantage of the numerous opportunities of setting up a private

required among other things to demonstrate their relevant experience in the respective business.

The Register of Directors and Officers in not a public documents, although copies of the registers are filed with the Registrar of Companies.

The Articles of Association of a company may be drafted to permit a director or officer of a company to bind the company and directors and officers have ostensible authority to bind the company.

It is normal for the Articles of Association of a company to permit the Resolutions of the directors to be passed by unanimous consent in writing. Similarly this is normally permissible for shareholders resolution as well.

Meetings

Shareholders must assemble at least once a year at a general meeting. The shareholders’ meetings can be held anywhere in the world.

The Articles of Association of an exempt company will define the quorum required at a meeting of the shareholders or the Board of Directors.

The use of proxies or of alternate directors who are local residents can meet this requirement. Directors have the right to appoint a company manager. If the Memorandum and Articles so provide, a meeting of members or directors is considered valid if only one person is present.

The Articles of an exempt company will define the notice the notice period required for meetings of the company.

Books and Registers

A simple exempt compa

Steel Industry Import Taxes
When we raised the steel import tax a few years ago it hurt many manufacturing sectors who used steel in their production. It also hurt smaller companies, which use steel in their products. US Steel prices have cost our team thousands of extra dollars due to the import taxes that were imposed. We told everyone if they raise the cost of steel even one hundred dollars per ton we will seek to build the truck beds out of other materials, and once we do we will never go back to steel. It is heavy, costs gas mileage, rusts, leaving iron oxide streaks on the exterior paint. It is by the cost we even still use steel.If the steel companies in this country cannot run more efficient and get their labor unions to perform efficiently then one should not expect the public to support that industry or buy their products. We can build the truck beds out of fiberglass, plastic or composite. We will be able to build uni-body shells and make them more ascetically pleasing. So the administration and the steel industry better get their act together. The auto industry also took

There are five types of companies that may be registered in the Cayman Islands – resident companies, non-resident companies, exempted companies, limited duration companies and foreign companies. They may be incorporated with members’ liability limited by shares, guarantee as unlimited companies, or as non-profit organizations.

Exempted Corporation

Exempted companies are identities where the proposed activities of a company are to be carried out mainly outside the Islands. The most appropriate use of offshore transactions is the exempt company which is prohibited from doing business in the Cayman Islands except in pursuance of its offshore business.

Benefits the Exempted Corporation:

An exempted company:

need not keep a register of members, nor file annual returns with the Registrar

need not hold an annual general meeting

Has written guarantee that if taxes ever be introduced in the Islands the company will be exempt for an initial period of 20 years, which period can be increased to 30 years.

May alter its Memorandum and Articles of Association without restriction.

may issue shares with nominal or no par value, and which can be either negotiable
or non-negotiable annual meetings must be held once a year in the islands by the company's board of directors

Annual Returns:

The annual return to the Registrar is a simple matter, requiring only the declaration that:

No changes, other than those notified to the Registrar, have been made in the Memorandum of Association

The provisions of the Companies Law have been observed

The company's operations have been mainly outside the Islands

An exempted company need not include the word "Limited" after its name

The Registrar must give one month's notice before taking action to strike off an exempted company

An exempted company may express its capital in any currency

Incorporation of an Exempted Company Corporate name

A name can be reserved for 30 days.

Any of the following words or abbreviations can not be included:

Chamber of Commerce
Building Society
Royal
Imperial
Empire
Municipal
Chartered
Mutual fund
No name may contain the words "co-operative", "assurance", "bank", "trust", "Insurance or any similar word which in the opinion of the

Registrar connotes any of such activities or any derivative of any of such four words or of such similar words, whether in English or in any other language, or in the opinion of the Registrar suggests or is calculated to suggest any of such activities.

Corporation Registration

They are able to arrange the registration of an exempt company on a same day basis although it will usually take a day or two for the co stating documents to be returned to us.

Resolutions or Amendments

All special resolutions of the company including the change of name of a company or amending the Memorandum or Articles of Association must be filed with the Registrar of Companies within 15 days. A resolution changing directors and officers of the company or changing the registered office of the company must be filed with the Registrar of Companies within 30 days. In addition, an exempt company is required to hold an annual meeting of the directors once a year in the Cayman Islands, and to file an annual return. Alternate directors who approve and file the annual return usually hold the annual meeting. This satisfies the requirement to hold a meeting in the Cayman Islands without actually requiring the directors to come to the Cayman Islands.

Banks, Insurance, and Trust companies Banks, insurance, re-insurance and trust companies may be registered as exempt companies provided they are licensed accordingly.

Capital and Members

The minimum government incorporation fee allows for a share capital of up to US$960,000.00 (US$900,000 for an exempted company) which is, therefore, the authorised share capital most commonly chosen by companies. There are no minimum capitalisation requirements (other than for banks, trust companies and insurance companies).

Cayman Islands companies may issue shares of different classes and designations such as preferred, common or

Confidentiality

The Register of Shareholders of an exempt company is a confidential document, which may be held at the registered office of the company or at any other place within or outside the Cayman Islands.

Directors and Officers

A minimum of two directors is usually appointed (one director can serve as secretary). There are no nationality or residence requirements for directors.

The subscribers of the Memorandum and Articles of Association appoint the first directors of the company. After that, the shareholders or the existing directors appoint directors for such term as determined by the shareholders or the shareholders or the directors. If not, unfilled positions can be filled by a resolution of the shareholders or of a remaining director. The directors generally elect the officers.

Generally the Register Agent require all directors, officers and members of an exempt company to provide them with two business references each to meet our internal due diligence requirements. If the company intends to be licensed by the Cayman Islands Government, the directors, officers and shareholders (who are natural persons) will be required to complete and file with the Monetary Authority a personal questionnaire in which they will be required among other things to demonstrate their relevant experience in the respective business.

The Register of Directors and Officers in not a public documents, although copies of the registers are filed with the Registrar of Companies.

The Articles of Association of a company may be drafted to permit a director or officer of a company to bind the company and directors and officers have ostensible authority to bind the company.

Meetings

Shareholders must assemble at least once a year at a general meeting. The shareholders’ meetings can be held anywhere in the world.

The Articles of Association of an exempt company will define the quorum required at a meeting of the shareholders or the Board of Directors.

The Articles of an exempt company will define the notice the notice period required for meetings of the company.

Books and Registers

A simple exempt compan

Presenting Your Business Plan to an Angel Investor
When presenting your business plan to an angel investor you must understand that they will be very interested in your spreadsheets and proformas, but you must also realize that it is typically an entrepreneurial optimistic approach, which causes problems with proformas.Therefore, you should have dueling spreadsheets; that is to say the spreadsheets, which take your best guess and double the time, double the expenses to compete with your optimistic approach. You should be able to present both of these to your Angel Investor; who chances are is a retired business person with a little bit of financial savvy.This will show your Angel Investor that you indeed are a rational thinker and concerned about the money as well as the truth. If the Angel Investor cannot trust you your chances of being funded are nil. An angel investor is betting on the jockey not only the horse. As an entrepreneur you must be honest with yourself as well as your financial partner.They want to make sure you believe in what you are doing and that you also have risked you

nual return to the Registrar is a simple matter, requiring only the declaration that:

No changes, other than those notified to the Registrar, have been made in the Memorandum of Association

The provisions of the Companies Law have been observed

The company's operations have been mainly outside the Islands

An exempted company need not include the word "Limited" after its name

The Registrar must give one month's notice before taking action to strike off an exempted company

An exempted company may express its capital in any currency

Incorporation of an Exempted Company Corporate name

A name can be reserved for 30 days.

Any of the following words or abbreviations can not be included:

Corporation Registration

They are able to arrange the registration of an exempt company on a same day basis although it will usually take a day or two for the co stating documents to be returned to us.

Resolutions or Amendments

Banks, Insurance, and Trust companies Banks, insurance, re-insurance and trust companies may be registered as exempt companies provided they are licensed accordingly.

Capital and Members

Cayman Islands companies may issue shares of different classes and designations such as preferred, common or

Confidentiality

The Register of Shareholders of an exempt company is a confidential document, which may be held at the registered office of the company or at any other place within or outside the Cayman Islands.

Directors and Officers

A minimum of two directors is usually appointed (one director can serve as secretary). There are no nationality or residence requirements for directors.

The Register of Directors and Officers in not a public documents, although copies of the registers are filed with the Registrar of Companies.

The Articles of Association of a company may be drafted to permit a director or officer of a company to bind the company and directors and officers have ostensible authority to bind the company.

Meetings

Shareholders must assemble at least once a year at a general meeting. The shareholders’ meetings can be held anywhere in the world.

The Articles of Association of an exempt company will define the quorum required at a meeting of the shareholders or the Board of Directors.

The Articles of an exempt company will define the notice the notice period required for meetings of the company.

Books and Registers

A simple exempt compa

Tips to Use Before You Start Your Job Search
It’s not easy to find a job, especially in these days, and in the situation that the world faces. This market situation demands an active search for jobs, that is, to look for a job in a persistent and organized way. Don’t let your self down; learn to adopt a positive and dynamic attitude.Don’t believe that there are no opportunities for you, don’t spend your days watching TV, and don’t keep waiting for your phone to ring. Stop being lazy. Job searching it’s a full time job. It’s about a real job that requires time, energy, will and persistence. Looking for a job shouldn’t be made in a random way, but instead in an organized way.First, start by evaluating yourself, making a personal and professional balance of yourself. You should try to answer the following questions: “what can I do?”; “What do I like to do?”; “What do I don’t like to do?”; “In what sort of activities am I good at?”; “What do others think of me?”; “In which aspects should I improve?”; “Do I have the need to improve my knowledge and professional skills?”; “Will I be Willing to move

exempt company on a same day basis although it will usually take a day or two for the co stating documents to be returned to us.

Resolutions or Amendments

Banks, Insurance, and Trust companies Banks, insurance, re-insurance and trust companies may be registered as exempt companies provided they are licensed accordingly.

Capital and Members

Cayman Islands companies may issue shares of different classes and designations such as preferred, common or

Confidentiality

The Register of Shareholders of an exempt company is a confidential document, which may be held at the registered office of the company or at any other place within or outside the Cayman Islands.

Directors and Officers

A minimum of two directors is usually appointed (one director can serve as secretary). There are no nationality or residence requirements for directors.

The Register of Directors and Officers in not a public documents, although copies of the registers are filed with the Registrar of Companies.

The Articles of Association of a company may be drafted to permit a director or officer of a company to bind the company and directors and officers have ostensible authority to bind the company.

Meetings

Shareholders must assemble at least once a year at a general meeting. The shareholders’ meetings can be held anywhere in the world.

The Articles of Association of an exempt company will define the quorum required at a meeting of the shareholders or the Board of Directors.

The Articles of an exempt company will define the notice the notice period required for meetings of the company.

Books and Registers

A simple exempt compa

Six Money Making Ideas
Money making ideas are more fun to dream up than to follow through on, so I'll keep on dreaming and let the reader be the entrepreneur. Here are the latest ideas for businesses, services and products that might make some money for those who want to lead the way.1. Market search dogs directly to the public. Dogs work for police departments and search-and-rescue squads, but why limit them to these? Perhaps people would pay to have a dog find lost items, or track lost people that the police have given up trying to find. They could even be used to find lost pets. A deer hunter might pay for this service when he knows the deer he shot will die, but can't find the body.2. Phones with locators. Give your child a cell phone that has a modified GPS unit in it. Anytime you call the phone, it transmits the location back to you, and plots it on the map in your phone. You can tell if a teenager is lying about where they are. You can also use it to locate smaller children who are lost.3. A locator system for the blind. Install small transmitters at all ma

insurance companies).

Cayman Islands companies may issue shares of different classes and designations such as preferred, common or

Confidentiality

The Register of Shareholders of an exempt company is a confidential document, which may be held at the registered office of the company or at any other place within or outside the Cayman Islands.

Directors and Officers

A minimum of two directors is usually appointed (one director can serve as secretary). There are no nationality or residence requirements for directors.

The Register of Directors and Officers in not a public documents, although copies of the registers are filed with the Registrar of Companies.

The Articles of Association of a company may be drafted to permit a director or officer of a company to bind the company and directors and officers have ostensible authority to bind the company.

Meetings

Shareholders must assemble at least once a year at a general meeting. The shareholders’ meetings can be held anywhere in the world.

The Articles of Association of an exempt company will define the quorum required at a meeting of the shareholders or the Board of Directors.

The Articles of an exempt company will define the notice the notice period required for meetings of the company.

Books and Registers

A simple exempt compa

Are You Missing Your Best Quality Improvement Ideas?
Last month I talked about keeping your quality improvement changes in place— using a manual that you develop of SOP’s, standard operating procedures. By the way, if you missed that issue, you can find it on my website, and several earlier ones too.This month I want to address starting a quality improvement project. That is, how do you decide what project to work on? What issue or process is causing the most waste, is doing the most harm, is most affecting the bottom line? Maybe you are a leader at your site and you have an idea of what is generally causing problems. For instance, you may think that patients with catheters are getting a lot of infections. Perhaps, checking patients in at your site is taking too long and creating a bottleneck. Maybe patients are complaining about having to wait too long at check in at a doctor’s office. It could be that certain departments are running short of supplies too often. There are many other possibilities. The probability is that unless you are directly involved in the contentious p

required among other things to demonstrate their relevant experience in the respective business.

The Register of Directors and Officers in not a public documents, although copies of the registers are filed with the Registrar of Companies.

The Articles of Association of a company may be drafted to permit a director or officer of a company to bind the company and directors and officers have ostensible authority to bind the company.

Meetings

Shareholders must assemble at least once a year at a general meeting. The shareholders’ meetings can be held anywhere in the world.

The Articles of Association of an exempt company will define the quorum required at a meeting of the shareholders or the Board of Directors.

The Articles of an exempt company will define the notice the notice period required for meetings of the company.

Books and Registers

A simple exempt company, which has no licenses, will not require to file annual accounts.

An exempt company is required to maintain a register of directors, officers and mortgages and charges at its registered office and a register of members at any place within or outside the Cayman Islands.

It is normal for an exempt company to obtain a company seal, which normally kept at the registered office of the company.

Duplicate seals may be authorised by the company and may be kept at a location approved by the directors of the company. A Company is not required to obtain a seal and pursuant to Cayman Islands law all documents, which were required to be sealed may now be executed as deeds and are not required to be sealed.

An exempt company is required to file an Annual Government Return, and to pay an annual fee to maintain its good standing. In addition an exempt company will normally pay an annual registered office fee. There is no taxes payable by an exempt company and the company may apply to the Executive Council of Government for a tax undertaking. When obtained this guarantees to company exemption from taxes for a period of twenty years from the date of issue.

The information that is available to the public is the following:
Company Name
Date of Incorporation
Company type (i.e. exempt, non-resident etc.)
Company Status (i.e. active or inactive)
Name and Address of registered office
Company Number

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Keeping your personal and professional lives balanced can be tricky when you are in sales or running your own business. While every person has a different definition of what living a balanced life means, every definition includes some variation of having enough time for family, community, and, of course, work.

Most business people don’t have a marketing background, so they have little knowledge about designing effective ads.

Public speaking can be fun no matter what the subject. Great article for leaders or people who avoid taking on a leadership role due to the public speaking they may need to do.

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