Terms and Conditions
1. Scope and legal purposes
The following general conditions govern the contractual relationship between GBC and its customers. They are also an integral part of every contract entered into by GBC with its customers. They govern the various services provided by GBC, such as the creation of offshore and onshore companies, ready-made companies, providing a virtual office, the administration of companies, “portage salarial” (umbrella companies), real estate refinancing and the creation of trusts and foundations. The client undertakes not to use the contract or a part of the contract for illegal, immoral or defamatory purposes. GBC reserves the right to cooperate with the competent authorities in the event of breaches by the customer. GBC shall not be associated with the customer’s commercial activities. The client shall be liable for the risk of legal incapacity of himself, his lawyers or a third party, unless GBC has been informed of this incapacity in writing. GBC may refuse to apply all of the services offered to the customer without the need for justification.
2. Due diligence and combating money laundering
GBC shall comply strictly with the legislation in force on money-laundering and due diligence. Also, before each transaction, the client must provide all information deemed necessary by GBC so that it can comply with the laws in force. The client also undertakes to ensure that no funds in a company are the proceeds of any illegal activity and that the client will not involve GBC in an immoral or illegal transaction.
3. Legal and tax advice
GBC shall provide guidance to its customers and undertakes to provide accurate information throughout the process. However, this information shall be provided for information purposes and may not be considered as legal, tax, financial, or even accounting advice. The customer must ensure he has received the legal and tax advice necessary to establish a company. GBC has connections to many qualified professionals and is happy to recommend them to clients where appropriate.
Establishing companies GBC provides a service to establish a company in the list of the jurisdictions mentioned on the GBC website (http://www.geniusbusinessconsultancy.com). GBC also has a “Ready Made Companies” service. The list of countries or these companies is available on the GBC website. Virtual office creation GBC provides a virtual office service. This service enables the customer to have a telephone number in the relevant country with the company’s customised telephone answering service. This service enables a postal address and mail service to be obtained in the customer’s chosen city. The customer undertakes to be committed to the service for a full year, in order to take full advantage of the virtual office services offered. Creation of bank accounts GBC assists the customer in creating a bank account. GBC performs all the steps required for the customer to be fully satisfied. In order to provide an optimal service to customers, GBC provides them with a list of carefully-selected banks. In some cases, the Bank is obliged to refuse to open an account. This is particularly the case when the rules of due diligence are not complied with. GBC undertakes to reimburse the customer if an account cannot be opened for him.
5. Ancillary services
GBC also promotes ancillary services. These services, such as company administration, “portage salarial”, real estate refinancing or the creation of trusts and foundations are carried out by third parties organized and authorized to provide this type of service. For legal reasons, ancillary services are charged by these third parties. GBC is a company that offers personalized services but reserves the right to outsource certain services. Services are provided on the basis of a specific agreement concluded between the client and the competent supplier of these ancillary services. Third parties may be subsidiaries, holding companies or any other subsidiaries of such holding companies.
6. The customer’s obligations
As mentioned in point 2 above, the customer undertakes to provide all information deemed necessary by GBC in order to carry out its mandate. Generally, for a case file to be opened, the customer must supply the following documents: • Certified copy of passport, • Proof of address, • Curriculum vitae In addition, depending on the Bank and the jurisdiction chosen, GBC may have to ask the customer for the following documents: • Statement of bank account(s) • Bank reference letter • Additional identification documents (identification card, driving licence, residence permit) GBC also reserves the right to request this information for every service provided. The customer must inform GBC as soon as possible of any changes to the information he has provided. GBC must also be informed of the identity of each person that may engage GBC’s services.
7. Duration and termination
Each contract concluded between GBC and the customer shall last for the period specified and be tacitly extended for the same period. On renewal, the terms of the contract shall remain unchanged. GBC and the customer may terminate the contract at term or at the end of any period of extension or renewal subject to two months’ written notice. Either party may terminate the contract immediately for just cause. Furthermore, GBC reserves the right to terminate any contract with immediate effect in the event of non-compliance with the laws or these general conditions. Such termination may affect any services offered by GBC. GBC shall not be held responsible for the consequences of or any damages incurred by the customer due to the immediate termination. Creation of a company Any contract to establish a company shall last for one year. Where the customer cancels the contract or requests the transfer of the management of the company to a third party, GBC will not carry out any action before receiving all outstanding payments and fees due from the client. Upon the incorporation of the company and its registration, the customer agrees to sign the mandate contract appended to these general conditions. GBC reserves the right to withhold all documents required for the use, management and the proper functioning of the company as long as the mandate contract is not signed. The incorporation fees paid by the customer may only be reimbursed if the following three conditions are met :
- GBC cannot create a company for the client,
- The customer has provided all documents requested by GBC or by the Bank,
- The request for reimbursement is presented within 6 months of the payment of the incorporation fees by the customer.
Opening a bank account Opening a bank account The service ends when the customer opens the bank account. Henceforth, all relations are between the customer and the Bank. The customer has a right to withdraw within 7 calendar days following the request to open the account. A full refund of the set-up fee may be granted if the following conditions are met :
- The Bank, with the support of GBC, cannot open a bank account AND
- GBC and the Bank have received from the customer all requested documents, correctly completed, AND
- The application for refund is made within 6 months of GBC’s sending the documents to the customer.