Definitions

Client means the owner or owners of the Company or Person or Persons authorised by the owner(s) who have requested AsiaBSto provide Services to the owner(s) or authorised person(s) of the company and in the case of more than one owner or person mean such owners or persons jointly and severally.

Client’s Appointees means any and all persons who may from time to time be nominated, appointed or act as director, alternate director, secretary, manager, partner, trustee, protector, bank signatory, other officer, grantee of a power of attorney, administrator, registered agent, or provider of a registered office, address for legal service, or registered shareholder of the Company.

Company means any company, trust, foundation or other legally recognized structure established and/or administered by AsiaBS.

AsiaBS/AsiaBusiness means Asia Business Service Limited or any other member of the AsiaPartner Group.

Person means any human, firm, company or other body incorporated or unincorporated.

Services means, but are not limited to, company formation, management, administration, registered agent, company secretarial, bank or brokerage introductions, trustee, advisory and other related services provided by AsiaBSto Client's Company.

Business Activities

AsiaBusiness reserves the right to discontinue providing Services and ceasing to act without notice for any Client if any Client is or becomes an Excluded Person or engages in any illegal or barred activity.

An Excluded Person includes those who have been imprisoned or found guilty of any criminal offence; Persons who have been proven to have acted in a fraudulent or dishonest manner in any civil proceedings; and Persons who have acted in any manner displaying moral turpitude.

Illegal or barred activities include illegal or other activities related to money laundering, receiving the proceeds of drug trafficking, terrorist activities or criminal activities or trading with such countries which have been excluded by banks and financial institutions from time to time.

Business activities not approved by AsiaBusiness include, but are not limited to, industrial espionage, trading in arms and weapons, human beings, human or animal organs, biological substances or nuclear materials, pornography, gaming and any other purpose which is illegal under the laws of any place of incorporation or establishment of the Company or place in which it carries on business or other purposes deemed unacceptable to AsiaBusiness.

Fees and Direct Costs

Client undertakes to make payment of the negotiated and agreed Fees for Services charged by AsiaBusiness upon Client receiving an invoice from AsiaBusiness for the same. Fees are as stated in AsiaBusiness’s published Fee Schedule, which is subject to change from time to time.

Client undertakes to pay AsiaBusiness in advance all Direct Costs, government duties, license fees or government fees of any nature relating to the Company. AsiaBusiness will not be liable for any penalties, fines or other liabilities incurred by the Client or by the Company and the Client accepts full responsibility to pay these and indemnify AsiaBusiness against any liability in respect of the same.

In the event Client fails to settle immediately the invoices issued by AsiaBusiness, then Client authorizes AsiaBusiness to deduct the Fees, Direct Costs and other fees from any account or funds under the control of AsiaBusiness that belong to the Client.

If Client does not require the Services provided by AsiaBusiness, then Client shall advise AsiaBusiness accordingly within thirty days of receipt of AsiaBusiness’s invoice for the forthcoming year’s Services. If Client fails to notify AsiaBusiness within the relevant thirty days, then Client shall be deemed to have agreed to pay AsiaBusiness’s invoice for the Services in full.

AsiaBusiness will not refund monies paid for Services (regardless of the specified term of the relevant service). AsiaBusiness reserves the right not to provide Services or to act on Client's instructions. If AsiaBusiness ceases to provide Services or ceases to act for any reason whatever, AsiaBusiness will not refund monies paid for the same.

Directors, Offices and Registered Office

Directors and Officers will at all times consider requests from Client, but they will not be required to act in any manner which appears to them to be dishonest, illegal, improper or unethical.

No reference shall be made to the registered office address (es) provided by AsiaBusiness to Client's Company in any marketing or corporate materials, advertisements or public announcements without the specific written consent of AsiaBusiness.

AsiaBusiness or the registered agent in the relevant jurisdiction may move their offices to another location and such a move may require changing of the registered office address (es) of the Company. AsiaBusiness undertakes to give Client as much advance notice as possible of any such move, but it will not accept responsibility for any costs incurred by the Client as a result thereof.

Client's Responsibilities

Client shall provide AsiaBusiness with a copy of his/her passport for AsiaBusiness's records. AsiaBusiness shall retain the copy of Client's passport in strict confidence unless required to disclose the same to a bank or brokerage firm to open an account or by a competent court of law or otherwise instructed by the Client.

Client shall provide AsiaBusiness with updated contact details and instructions regarding restrictions on communication matters.

Client shall not involve the Company in any unlawful act or undertaking as the same may be defined in various jurisdictions in which Client's Company does business. It shall be Client's sole responsibility to determine whether any such acts or undertakings are unlawful. AsiaBusiness shall not be responsible for any unlawful act or undertaking in which the Client or Client's Company has been engaged.

Client shall ensure that the Company has sufficient funds to meet its commitments to AsiaBusiness and other third party suppliers of services and/or products in a timely manner. AsiaBusiness shall not be responsible for financial commitments of Client's Company.

AsiaBusiness expressly disclaims any liability to the Client, the Company, and any third parties for any damage or loss to the Client, the Company or any other Person arising out of the use of the Company and/or Services by the Client or any other Person.

Client shall indemnify and hold harmless AsiaBusiness, its affiliates and their directors, officers, employees and agents from and against all claims, actions, costs (including legal) and liabilities arising out of or relating to these Terms and Conditions of Business and the Services provided to the Company.

Confidentiality

AsiaBusiness will not divulge to any third party any information concerning the Company, its Owners, its Directors and Shareholders, without the prior consent of the Owner. This clause is inapplicable when AsiaBusiness is compelled by law to disclose such information.

General Provisions

All instructions or requests concerning the affairs of the Company shall be given by the Client in writing to AsiaBusiness. AsiaBusinessmay, at its sole discretion, agree to take action on any request or instruction given otherwise than in writing only on the express understanding that AsiaBusinessshall not be liable in respect of any misunderstanding or error regarding the same.

All communications in relation to the administration of the Company shall be deemed to have been properly communicated to the Client if sent to the postal address, email address or facsimile as notified to AsiaBusiness by the Client.

AsiaBusiness shall not be liable for any failure to comply wholly or in part with any instructions received from the Client and shall not be responsible for consequences arising from non- receipt of instructions for any reason.

AsiaBusiness provides information in its brochure, World Wide Web site and other materials regarding offshore fiduciary services, investment advisory and commercial matters. Such information does not purport to be legal, tax or other professional advice.

Where AsiaBusiness receives mail, whether by the postal service, courier or other means on behalf of Client, AsiaBusiness reserves the right to inspect the contents of such mail.

Validity

These Terms and Conditions of Business supersede all prior Terms and Conditions of Business whether oral or written and no prior notice is required to be given to Client or potential Clients.

Termination of Services and Agreement

Any and all obligations of AsiaBusiness shall cease forthwith if the Client shall fail to observe these Terms and Conditions of Business or if it comes to the attention of AsiaBusiness that the Company is being used for activities other than the nature of business to be undertaken by the Company as provided by the Client in the Company Order Checklist.

Dispute Resolution

This Agreement shall be governed by and interpreted in accordance with the substantive laws of Hong Kong and all disputes arising in connection thereto shall be finally settled by the Hong Kong Arbitration Centre in accordance with its rules. For the avoidance of doubt the Client and AsiaBusiness agree that the decision of such arbitration shall be binding on all parties to that arbitration.

Refund Policy

Parking Services :

  •   The fee amount and service of our parking services (company secretary, register address etc.) are designed for whole year engagement;
  •   If client decided to quite, stop or change service provider during the year, regret no refund will be arranged.

Document Preparation Fee

  •   Existing client may give instruction for certain work;
  •   Then, client may request to cancel the work before it is executed;
  •   If document already prepared for the matter, we'll charge document preparation fee - even the instruction is cancelled;
  •   Document preparation fee varies according to the number of document prepared. Usually it is HKD 600.

About payment

  •   Payment terms are on a COD basis / cash against documents unless credit has been arranged in advance and writing by Asia Business Service Limited, hereinafter referred to as “AsiaBs”.
  •   Where credit is granted, AsiaBS reserves the right to charge a monthly surcharge of 2% for any invoices that are not paid in accordance with the advised credit terms.
  •   Payment and liability to AsiaBS are not dependent on third party payment to our clients. Accordingly, default by any third party will not be accepted by AsiaBS as a reason for non-payment of AsiaBS invoices.
  •   Company kits delivered are not returnable in any circumstances. (Once we get the confirmation from client to cancel order for buying a ready made company, we assume that the engagement is withdrawn and the client forfeited the ownership of that company.Asia Business Service Limited will charge to client).
  •   Payment of AsiaBS invoices, may be made by cheque (accepts only HKD cheque / check issued from HK banks), credit card (Visa or Mastercard) or by transfer to AsiaBS’s designated bank account. For all payments, particularly those made by bank transfer, sufficient details (invoice number, company name and copy of bank payment slip ) must be provided to AsiaBS by fax or email to our payment@asiabs.com to match the payment with the invoice. Any loss incurred as a result of AsiaBS being unable to identify the payment, whether consequential or otherwise, or additional costs, including bank charges, costs or reinstatement or restoration of companies, will be the client’s sole liability and not AsiaBS’s responsibility.
  •   Non-HK dollar cheque will not accepted.
  •   If document already prepared for the matter, we'll charge document preparation fee - even the instruction is cancelled ; Document prepration fee varies according to the number of document prepared and we will charge back a preparation fee / cancellation fee.
  •   All payments should be made payable to “ Asia Business Service Limited” or according to the payment method under our website Payment Method
  •   For certain jurisdictions, we need to hold on our files at the time of sale of each company, due diligence (“DD”) or know your client (“KYC”) information in accordance with the requirements of the Government of the jurisdictions where the relevant company is incorporated. Accordingly, the sale of a company in those relevant jurisdictions, details of which will be provided to you in advance, is conditional on the relevant DD/KYC requirements being complied with. Failure to comply with these conditions could affect the continued legal operation of the company.
  •   Cancellation of payment will not be accepted and administration fee of HKD 150 will be imposed for reallocation of annual fee payment (subject to actual renewal status) - apply to Offshore company.
  •   All matters and disputes will be subject to the final decision of AsiaBusiness.