ja_mageia_template_j15

The Memorandum of Association must be submitted to LOFSA at the time an offshore company is formed. Unlike in the domestic practice, there is no “Standard Table” to be used. All trust companies use their own standard Memorandum of Association. The Memorandum of Association must be dated, printed and divided into numbered paragraphs and contain the following;[1]

i) the name of the offshore company;

ii) the objects of the offshore company;

iii) the amount of the share capital with which it is proposed to be registered and the division thereof into shares of fixed amount;

iv) full name and address of each subscriber; and

v) a declaration by the subscriber to the memorandum of association stating his desire to form an offshore company and agreeing to take the number of shares allocated to him.

The Memorandum and Articles may be amended by a special resolution of the members of the offshore company.