Anstalt
An Anstalt is a Liechtenstein limited company which is often used when the capital structure is complex and the business purpose is international trade.
Articles of Association
The regulations for governing the rights and duties of the members of the company among themselves. Articles deal with internal matters such as general meetings, appointment of directors, issue and transfer of shares, dividends, accounts and audits.
Asset Protection Trust
A trust established offshore to protect settlors’ assets against those who may attempt to make claims against them – creditors, former spouses and dependants on death. Some offshore jurisdictions provide protection from creditor claims against persons who have guaranteed bank loans.
Authorised Agent
A bank or trust company authorised by regulatory authorities to deal in foreign currency securities.
Back to back Loan
A loan structure when ‘A’ deposits a sum of money with a bank in country ‘X’ on condition that a related branch, agency or bank located in country ‘Y’ will lend an equivalent sum to ‘A’ or a designee in country ‘Y’.
Bare Trusts
Also known as dry, formal, naked, passive or simple trusts. These are trusts where the trustees have no duties to perform other than to convey the trust property to the beneficiary(s) when called upon to do so.
Bearer Share Certificate
A negotiable share certificated filled out in the name of the ‘bearer’ and not to a particular person or organisation.
Bearer Stocks/Shares
Securities for which no register of ownership is kept by the company. A bearer certificate has an intrinsic value. Dividends are not received automatically from the company but must be claimed by removing and returning ‘coupons’ attached to the certificate.
Beneficial Owner
The actual or economic owner of an offshore company as distinct to the registered or nominal owner.
Blue Chip
The most prestigious industrial shares. An American term derived from the colour of the highest value poker chip.
Broker/Dealer
A London Stock Exchange member firm which provides advice and dealing services to the public and which can deal on its own account.
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