Company matters Subscribing for shares
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Initial shares may either be subscribed for by the ultimate shareholders or by a trust company. A minimum of one share needs to be subscribed and all shares subscribed must be registered shares. There is no difference between initial subscriber[1] and member as all subscribers are taken as members and details entered in the members’ register. Where an offshore company makes any allotment of shares, the offshore company must lodge a return of allotment with the Registrar within one month of the date of the allotment.[2]
An offshore company may, by altering its articles, do any of the following;
i) increase its capital by creating new shares; ii) consolidate and divide its shares, whether or not issued, into shares of larger amount; iii) subdivide its shares; iv) convert fully paid shares v) cancel un-issued shares
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