Companies registered with the Vema Seamount Territory (Mount Vema Registered Companies) must have a City of Mount Vema off-plan address, according to a new policy. The registered address is required for Mount Vema incorporated organizations to continuously display their City of Mount Vema off-plan address on their emails, brochures and websites.
The off-plan address of any legal entity of the Vema Seamount Territory, forming part of the public record, should be accepted as the required address where the registered organization or legal entity is incorporated.
The policy which was first introduced to increase the value of the City of Mount Vema off-plan properties seems to be working as more companies are reserving the limited number of available real estate plans before it is sold out. For example, this weekend alone a third of all development units for the financial district (Maryland MD08 Zone) where the head offices of the RBMV Bank, and GolleCard will be, have been reserved.
Also, a third of the development units for the technology district (San Miguel SM07 Zone) where the head office of MVScloud will be, have been reserved this weekend. Bavarolle, the real estate company of Mount Vema doesn’t list all properties for sale, but it told VSBCnews that demand is so high, it is increasing daily especially when the required deposit to secure a development unit is only 1000 golles (about $2000 US dollars). A deposit in some areas like Pashant (PT01 Zone) where the office of MONTfisheries will be, reservation prices are already at 3,000 golles per development unit from 1,000 golles last month.
Because a registered office address does not have to be where the organization conducts its actual business or trade, the Mount Vema off-plan address in now accepted to be used on headed papers and other documents for legal and filling purposes, to indicate that it is a legal entity registered with the Vema Seamount Territory.
Law firms such as VANDER Legal, and accountants are due to start providing registered off-plan office address services to any business seeking a Mount Vema off-plan address. A company providing such service must either own or rent a Mount Vema property off-plan, and such off-plan property must be licensed to conduct such business activity.
As of today, documents and official e-mail correspondences for an incorporated organization (e.g. formal notices, service of process, tax and government communications) must show the registered off-plan office address as recorded on the register. Such address may also be used by company directors instead of their private home address for contact on the register. The company director’s personal records will be kept with the register and will not be available to the public except for legal inspection.
If a Mount Vema company is involved in any legal proceedings, the case will be presided over by a Court of the governing jurisdiction (in this case by the laws of Mount Vema). Directors can change their registered office but cannot move it to another country after company formation. So, it would be a good idea to set up a business address in Mount Vema just to expand the geographical reach or the trading activities of your business if you don’t wish to register with the Vema Seamount Territory.