[apnic-talk] RE: APNIC and the Seychelles
Why was APNIC set up in Seychelles? Because the technical community of
APNIC wanted a legitimate structure but did not want to be bogged down
with other adminsitrative that would hinder the work and increase the
costs, e.g. the need for a company secretary, accountant, regular minutes,
etc. They wanted something that would give them structure but great
flexibility. Also, they wanted something that did not costs too much.
Before Seychelles was decided on, the law firm did a comprehensive review
of at least 7 countries to reveiw which would be the best place. Then it
turned out that the law firm we were dealing with, had also been involved
in writing up the laws of Seychelles and was the Business Regsitrar of
Seychelles as well. So it meant we could do the necessary legal work in
Singapore, at very little costs to APNIC. Also, being the Registrar and
knowing the laws inside out, APNIC interests would be safeguarded. There
was again another review on tax implications, and a decison was taken
everyone that Seychelles met all the requirements.
Some however were uncomfortable paying into Seychelles. Therefore a bank
outside had to be created. Since Citibank in Singapore is used to dealing
with offshore Seychelles companies, a bank account was set up here. It was
also set up to allow for the Citibank office in Japan to be used.
To cut a long story short, Seychelles and a Singapore bank account were
chosen to meet the requiremnets of the membership and Secretariat at that
time. Many things happened in between, and now they have decided that it
is better to set up elsewhere. That is fine, and is common in many
organisations.
No I am not involved in the move to Australia.
Laina RG
--- On Sun, 17 May 1998 11:48:54 -0500 Jim Fleming <JimFleming at unety dot net>
wrote:
Laina,
Why was APNIC set up in the Seychelles ?
Isn't that a long way from Tokyo, Japan where
apparently APNIC has its main office ?
Also, why does APNIC keep most of its cash
in a bank in Singapore[3] ?
Are you involved in the move to Australia ?
Jim Fleming
[1] @@@@ http://teckla.apnic.net/gen.html
Document: apnic-047.txt
Document-Name: apnic-moa
Title: APNIC, Ltd. Memorandum of Association
Length: 66638 bytes
Author: David Conrad, Laina Greene, H. Elias, & Partners, Ltd.
Obsoletes: N/A
Obsoleted-By:
@@@@@@@@@@@@@@@@@@
[2] @@@@ ftp://ftp.apnic.net/apnic/archive/apnic-047.txt
1. NAME
The name of the Company is APNIC Ltd
2. REGISTERED OFFICE
The Registered Office of the Company will be c/o Platinum Corporate
Services (Seychelles) Limited, Revolution Avenue, P.O. Box 18, Mahe, Seychelles
or such other place within Seychelles as the Company from time to time may
determine by a resolution of directors.
[3] @@@@ http://teckla.apnic.net/annual_reports/1997/financial_status.htm#c3_2
Current Assets Citibank, Singapore US $397,006.78
@@@@@@@@@@@@@@
-----------------End of Original Message-----------------
-------------------------------------
Name: Laina Raveendran Greene
E-mail: laina at singnet dot com dot sg
Date: 18/05/98
Time: 11:55:15
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