Mossfon Building
54th Street, Marbella
P.O. Box 0832-0886, W.T.C. Panama
Panama, Republic of Panama
(+507 206-9490 thru 507 206-9499
 
7 +507 263-8972 
 
*  eteano@mossfon.com
 
http://www.mossfontrust.com
 
  _____  
From: Jost Dex [mailto:jost@mossfon.lu]
Sent: Friday, May 08, 2009 3:44 AM
To: Edison Teano - Mossfon Trust
Subject: Nominee shareholder service for BVI companies - 1600349 (278/
b)///MFT 1600941 ET
Dear Edison,
comments noted. However, I understand and accept that Mossfon considers
the structure to be of higher risk above average and you decided to charge
more on the shareholder service in each company. We are talking of an
estimate of 100-200 companies.
But why do we have to charge higher fees for the foundations? These are
two (2) foundations only and you want to charge
$1140 instead of $997 (standard price) for acquisition (= $286 more for
two foundations)
$400 instead of $280 (standard price) for provision of foundation council
(=$240 more for two foundations)

How do you consider to explain a client that by paying such small amounts
above average will cover the higher risk? My suggestion: as a matter of
commercial gesture we should charge the client standard fees for the two
foundations and those higher fees regarding the nominee shareholder
service for each company.
Comments appreciated.
Next comment received from client:
QUOTE

 1. Following
declarations
hereunder).
 
2. About the
as we choose
(the text of

to your email, please find herewith the modifications in the
as proposed by our compliance officer (indicated in green

letter of indemnity, the 3rd (c) paragraph is not necessary
the option to sign a main declaration as discussed together
the declaration is indicated hereunder).

3. About the fees, we prefer to use 2 foundations dedicated to SGBT
clients. In case one of our clients would like his own nominee(s), we will
do the necessary case by case, but for the rest of the BVI you have with
us we will use two dedicated foundations set up for our use.
4. In this case (answer q. 3.), I think we do not need to sign any other
declaration as joined in your email. Thank you for confirming me this
point.
I look forward to hearing from you
UNQUOTE
Comments appreciated, my friend.
Thank you and best regards,
 
Jost Dex
MOSSACK FONSECA & CO. (LUXEMBOURG) SARL
Tel: +352 / 349 888-1
Fax: +352 / 349 889
On 05/05/09 10:32 PM, Edison Teano - Mossfon Trust wrote:
Dear Jost,
 
Thank you for your comments.
 
I will proceed to answer your questions in the same order as they were
presented: 
 
1. The price that we are proposing to charge MF-Lux for the acquisition of
each foundation is higher basically for the special use the client will
make with the Foundation and the special flexible service that we are
providing (without much due diligence) as definitely entail a higher
risk.  However, you may agree that it is not much higher than your
standard fees.
 
2. Yes, we should.  For sure the client will ask for our services as soon
as the foundations are incorporated.  Therefore, charging prorrated fees
is appropriate. 
 

 3. Annual fees for the maintenance of the foundations will be US$800 (our
fees) + US$300 (franchise tax) each. 
    
4.  We agree that this are higher fees, but this is really a special case
which involve more work and risk.  We find it reasonable.  However, if it
is absolutely necessary that we decrease our fees (bacause it it imposible
for you to get to an agreement with the client) we could consider charging
lower fees.  However, our annual fees should not be lower than: US$650
(our fees) + US$300 (Franchise Tax).
 
5. With the US$650 I was really thinking about the client!!!  To MF-Lux we
will charge US$375 for the provision of these services.  We find it
reasonable as we need at least to verify that everything is in order in
the companies, also in the foundation documents, and making sure to have/
receive/prepare the documents in order.           
 
6. Yes, that's correct, we want to charge for each company US$450 on
annual fees for the provision of this service (which is basically an
indirect provisionof shareholders).      
 
FEES TO SET UP THE FOUNDATIONS
The total fee to set up each foundations is:
Our fees:
US$1140 for each foundation
US$400 For the Foundation Council (prorrated until the end of the year). 
 
FEES TO SET UP EACH COMPANY
US$375 as mentioned above.
 
ANNUAL FEES
For the Foundations:
US$800 + US$300 (each)
 
For each Company
US$450 for the service of this indirect shareholders service.  The
additional services (i.e. Registered Agent, Directors, Licence fee, etc.)
will be charged separately.  This service will be charged starting from
the year 2010.

  
In case you need any additional information about this matter, please let
us know.
 
Kind regards,
 
Edison Teano
Lawyer

Mossfon Building
54th Street, Marbella
P.O. Box 0832-0886, W.T.C. Panama
Panama, Republic of Panama
(+507 206-9490 thru 507 206-9499

7 +507 263-8972 

*  eteano@mossfon.com
http://www.mossfontrust.com
 
 
 
  _____  
From: Jost Dex [mailto:jost@mossfon.lu]
Sent: Tuesday, May 05, 2009 3:08 AM
To: Edison Teano - Mossfon Trust
Subject: Nominee shareholder service for BVI companies - 1600349 (278/
b)///MFT 1600941 ET
Dear Edison,
thank you for your email.
Comments regarding fees:
You mention the acquisition of each foundation would be invoiced at
$1.140,-. However, the standard price for foundations Mossfon-Lux is