| All International Business Companies or Holding and Trading Corporations are required to adhere to the following requirements: |
1. Share capital
Share capital may be divided into different classes of shares with varying rights attached to each class and may be issued and subscribed in any legal currency of the world.
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2. Directors
An individual or a body corporate may be a Director, the NAURU Agency Corporation can arrange to appoint Nominee Directors on your behalf. The number and the names of the first directors are required to he determined in writing by all or by a majority of the subscribers to the Memorandum.
3. Secretary
Appointment of a resident secretary is a statutory requirement. In addition directors may appoint a secretary or an assistant secretary outside Nauru to conduct the affairs of the corporation. | |
4. Seal
Every corporation must have a corporate seal which should normally be retained at the registered office of the corporation at Nauru. However, directors may, by a resolution, entrust the custody of the seal to a director who may reside outside Nauru.
5. Annual General Meeting
It is obligatory for a trading corporation to hold an Annual General Meeting for the purposes of adoption of annual accounts, election of directors, declaration of dividends and important issues. Other matters that may require special resolutions to be passed, may be passed at extraordinary general meetings to be convened in accordance with the provisions of the Corporation Act 1972 and the Articles of' Association of the corporation.
6. Accounts
There is no statutory requirement for Annual Accounts to be lodged for bureaucratic appraisal, however the directors are required to ensure proper accounts to be maintained. No member, not being a director, has the right to inspect any accounts, books or papers of the corporation unless authorised by the corporation in a general meeting or by any written law.
7. Indemnity
Every director, managing director, agent, secretary or any other officer of the corporation, shall be indemnified out of the assets of the Corporation against any liability which may be incurred by them in defending them self in any legal proceedings provided the judgment is given in their favour.
8. Directors, secretaries and corporation agents
Any individual or a body corporate may be a shareholder, a secretary or a director of an international business company incorporated in Nauru. Every corporation must have a registered resident secretary, though it may appoint other secretaries as well.
Applications
All applications for incorporation of International Business Companies are not accepted directly by the Registrar of Corporations. All applications are to be lodged through the Nauru Agency Corporation as the registered corporate agent for the Republic of Nauru.
Process time of applications will take 2-3 working days. |
Copyright © 2008 Nauru Agency Corporation |
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