apostille
An apostille or exemplified copy of a vital record is a copy that contains the original signature of the registrar or equivalent senior government official.

articles of association
The document which lists the regulations that govern the running of a company. Articles of Association will cover things like main business and purposes of the company, shareholder's voting rights, directors duties or general working and management practices. They are registered with the memorandum of association when the company is formed.

Bearer Share Certificate (or Bearer Shares)
Negotiable share certificate(s) filled out in the name of "bearer' and not to a particular person or organization. Can be transferred without record.

beneficiary
1.A person who benefits from a trust set up on his/her behalf
2.Anyone who benefits from the proceeds of a will
3.A person who benefits from the proceeds of a life insurance policy
In short, anyone who stands to benefit from a contractual or fiduciary relationship.

Companies Act or Ordinance
Legislation enacted by a tax haven to provide for the incorporation, registration and operation of international business companies (IBCs). Commonly found in Caribbean tax havens. For a typical example, read the British Virgin Islands' International Business Companies Ordinance of 1984.

debit card
A plastic payment card, issued by a bank or other financial institution, which enables the holder to obtain goods and services without the requirement to pay cash. The debiting procedure commences directly after the transaction which results in the holder's account being debited within a few days. In addition to obtaining goods, the card can be used to obtain cash which results in the holder's account being debited immediately. See also 'charge card' and 'credit card'.

domiciliary
a person who is domiciled in a particular jurisdiction (as a country)

domiciliary services
services provided by a localized individual or group on behalf of an absentee for legal purposes such as local government filings and interests representation.

International Business Company (IBC)
A corporation formed (incorporated) under a "Company Act' of tax havens, but not authorized to do business within that country. It is intended to be used for global operations and is owned by member(s)/shareholder(s). IBCs have attributes normally associated with any corporation.

memorandum of association
Those details which a company, when formed, must submit to the Registrar of Companies together with its articles o association. They include company name, registered office, objectives, authorised share capital and a statement of limited liability.

nominee
A person or company nominated by another to hold shares on his behalf. The most common use of nominee accounts is where execution-only brokers act as nominees for their clients. The shares are registered in the name of the broker, but the client has beneficial ownership of them. The advantage of nominee accounts is that they make settlement quicker and more streamlined. In theory, dealing costs should be lower. There are some disadvantages: because the individual isn't the registered owner of the shares, he doesn't get sent company reports and accounts, and can't take advantage of shareholder perks, unless his rokers provides a special forwarding service.

offshore funds
Funds based outside the tax system of the country where the intended investor is residing. A fund which is legally based in the Channel Islands, the Bahamas or Cayman Islands, for instance, is an offshore fund.

power of attorney
A document which authorises a person to act on behalf of another.

resident
one who has a residence in a particular place but does not necessarily have the status of a citizen. (compare citizen § 1 domiciliary)