Terms of use

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Definitions

Beneficial Owner (Client) is a natural or legal person that directly or through his/its representative, entrusted Midland Consult (Cyprus) LTD to register a company, and has ownership right to this company and its property, and benefits from the activities of this company in accordance with trust agreement.

Appointed Person is a person authorized by the Client (in writing), presented to Midland Consult (Cyprus) LTD and responsible for the arrangement of the special issues relating to the Client and company activity.

The Professional Mediator is a lawyer, accountant, investment advisor, entrusted administrator, or other professional performing missions on behalf of the Client.

The Services are the activities that are performed by Midland Consult (Cyprus) LTD in respect of the Client, including the registration of the company, its management, provision of the services of registered agent, secretary, nominee directors or shareholders and trustees, as well as representation in bank, consulting and other similar services.

General Provisions

All instructions and requests concerning the Client, the Client’s company or the services provided by Midland Consult (Cyprus) LTD, must be provided by the Client in writing.
The messages of Midland Consult (Cyprus) LTD on rendered services shall be considered received by the Client, if they were sent to the postal address, e-mail or fax, provided by the Client to Midland Consult (Cyprus) LTD.

Midland Consult (Cyprus) LTD is not responsible in case of failure to follow the instructions received from the Client, or their parts, and is not responsible for the consequences of non-receipt or late receipt of instructions from the Client for any reason.

Midland Consult (Cyprus) LTD reserves the right to read or run over the correspondence, documents or other data received in the office of Midland Consult (Cyprus) LTD, if the correspondence and documents were addressed to the Client’s name.

Any written or oral agreements, which, on the Client’s opinion, have been made between his company and Midland Consult (Cyprus) LTD, may not contradict the present terms and conditions of service provision.

Midland Consult (Cyprus) LTD is discharged from all obligations, if the Client will violate the present terms or if it will become known about the use of the Client’s company to carry out any activities other than stated in the order form, or if it will become known that the Client has provided unreliable information as regards to any aspect of the company activity.

Midland Consult (Cyprus) LTD is not responsible for any damages or losses incurred to the Client, the Client’s company or a third party, if such damages or losses arose at the result of the services provided by Midland Consult (Cyprus) LTD.

Midland Consult (Cyprus) LTD reserves the right at any time to refuse from the cooperation with the Client or to suspend the provision of services to the Client without a prior notice and announcement of reasons.

Responsibilities of the Client

The Client is responsible for obtaining tax advice, management and other legal matters relating to the activities of the Client’s company.
Midland Consult (Cyprus) LTD is entitled to present experts to the Client for the settlement of these issues, but it is not obliged to provide recommendations on taxes, management and other legal aspects of the activities of the Client’s company. At the same time, Midland Consult (Cyprus) LTD is not responsible for the quality and relevance of the expert recommendations provided by the experts presented to the Client by Midland Consult (Cyprus) LTD.

The Customer shall undertake to provide Midland Consult (Cyprus) LTD with a signed order form and the Beneficial Owners declaration, which shall include all the necessary information. Also, if possible, the Client submits any other information required by banks, brokers or third parties involved in the provision of services of Midland Consult (Cyprus) LTD to the client.

The Client shall undertake to provide Midland Consult (Cyprus) LTD with correct contact information and instructions on the matters concerning the Client’s company, as well as a list of required services.
It includes, but is not limited to, the informing of Midland Consult (Cyprus) LTD on the details of transactions, providing the copies of the company agreements and contracts, as well as the timely notification of any action of the Client, which can lead to undesirable or legal consequences.
Midland Consult (Cyprus) LTD is not responsible for any consequences arising from the provision of incorrect information by the client.

The Client shall undertake not to involve the company in any activity that is in contradiction with the laws of the jurisdiction, where this activity is carried out, or the laws of the country, where the Client is a resident and / or taxpayer. The Client understands and agrees that it is the client’s responsibility to determine, if the company activity is lawful, as well as the Client understands and agrees that Midland Consult (Cyprus) LTD is not responsible for the illegal actions initiated by the Client personally or on behalf of the company.

The Client is responsible for all financial liabilities of the company. The Client agrees that Midland Consult (Cyprus) LTD is not responsible for the financial liabilities of the company.

The Client shall indemnify from the responsibility Midland Consult (Cyprus) LTD, all of its affiliated companies and its directors, employees and agents from any and all claims, obligations and payments (including payments on judicial decisions) associated with the performance of these terms and rendering of services to the Client or the Client’s company.

Information about the Client and company

Midland Consult (Cyprus) LTD assures the confidentiality of information about the Client and the company received in the course of providing services, including: names, contact information and any other information about the Client or company.

The information provided by the Client or received by Midland Consult (Cyprus) LTD at time of rendering services, shall be kept in a secure and safe place, accessible only to the authorized employees of Midland Consult (Cyprus) LTD.

Midland Consult (Cyprus) LTD ensures that the above information will be used only for the purposes for which it was submitted.

The information about the Client and the company may not be transferred to any third parties without the prior written consent of the Client, or for the use for purposes other than those for which it was provided.

Directors, Nominee Shareholders and Registered Office

Directors provided by Midland Consult (Cyprus) LTD to the Client shall at any time consider the client’s request regarding his/its company, or services rendered by him/it. However, the Client is not entitled to require from the directors, provided by Midland Consult (Cyprus) LTD, to perform the actions that may be considered inappropriate, illegal or unethical.

The termination of the services of the directors provided by Midland Consult (Cyprus) LTD to the Client is fulfilled in accordance with the Client’s written request.

The nominee shareholders provided by Midland Consult (Cyprus) LTD shall sign the Declaration of Trust in the name of the Client or a person authorized by the Client for this purpose with respect to shares owned by this nominee in accordance with the relevant laws.

Midland Consult (Cyprus) LTD or a registered agent in the relevant jurisdiction may carry on a change of the registered office of the company that may lead to the change of postal address of the client. Midland Consult (Cyprus) LTD shall in advance notify the Client about the fact of such activities. The Client agrees that Midland Consult (Cyprus) LTD is not responsible for the Client’s expenses relating to the change of the registered address.

Charges and Rates

The Client shall undertake to pay for all previously discussed and agreed upon fees for services on receiving an invoice from Midland Consult (Cyprus) LTD provided that these services were rendered to him.

The Client shall undertake to pay to Midland Consult (Cyprus) LTD the cost of services in advance, unless another agreement has been reached between the client and the Midland Consult (Cyprus) LTD. The Client agrees that Midland Consult (Cyprus) LTD is not liable for the penalties charged from the Client or the Client’s company.

The Client is solely responsible for timely informing Midland Consult (Cyprus) LTD about the fact of the termination of the company activities or decision to refuse from the services of Midland Consult (Cyprus) LTD. In the event that such information was not provided in due time, the Client shall be responsible for the consequences occurred.

Other Provisions

The present terms may be amended only by the written consent of Midland Consult (Cyprus) LTD.

These terms shall be understood and interpreted in accordance with and laws of the Republic of Cyprus. All disputes and disagreements arising in connection with compliance or failure to comply with these terms and conditions shall be settled and resolved in accordance with the relevant arbitration laws of the Republic of Cyprus. To avoid disputes the Client and Midland Consult (Cyprus) LTD agree that the decisions of the arbitral court shall be binding to both parties.