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Handy Deed, the leading building company of Mount Vema is officially bidding to build the aquaculture installations project in Mount Vema, after expressing interest in the project announced by MONTfisheries in August this year when the fisheries company instructed W-Contractors to search for companies to design and build its aquaculture installations project with minimal or no damage to the Vema Seamount marine environment.
The deal made in August, just hours after W-Contractors launched an international campaign to hire sales representatives to invite businesses and organisations to bid for City of Mount Vema projects, both for corporate and government contracts, was part of a plan to expand recruitment that started in New York City – United States, to find potential contractors and sub-contractors with the aim to attract businesses willing to bid for contracts. The sales representatives would strive to secure repeat deals wherever possible and maintain good relationships with those contractors or sub-contractors who would become existing bidders.
With so few companies applying to build the installations, today after a number of consultations and an international recruitment campaign that led to the hiring of Project Architects and Engineers, Handy Deed, the leading building company of Mount Vema said it is ready to bid for the MONTfisheries contract, in line with government policy, which states that competition must be open to everyone and contracts must be awarded to the best proposals.
MONTfisheries aquaculture project will not only be beneficial to the economy, but it will also provide for crucial ecological functions and could potentially increase abundance and maintain biodiversity. The shelter will raise stocks of prey fish and small crustaceans by increasing recruitment opportunities in turn providing more prey for higher trophic levels.
After seven months since the day the company first announced plans to partially resume services that provides financial payment products, GolleCard the leading processor of payments between the banks of merchants and card issuing banks of the Kingdom of Mount Vema, has fully reopened it payment services.
The company has been providing financial institutions with GolleCard-branded payment products since the creation of the Kingdom of Mount Vema, but it stopped offering credit card services almost six years ago when His Mount Vema Majesty’s Government and the Central Bank of the Kingdom of Mount Vema (Bank of Mount Vema) decided to restructure the Mount Vema financial system as part of a plan to improve its independent Global settlement of payment services in golles.
Because GolleCard mainly deals with Global payments in golles, any payment in other currencies, the company still relies on other financial systems especially those provided by Visa or MasterCard. So GolleCard continues to explore ways to partners with Visa and MasterCard issuers especially Pre-Paid cards, to make it easier for people in countries with no credit card facilities, to pay online for goods and services on Mount Vema websites which is becoming big business and those who are just joining must pay in currencies other than the Mount Vema currency before they start earning in golles to qualify for a GolleCard.
GolleCard enables banks to offer credit to their customers when dealing with the Kingdom of Mount Vema. The service combines payment with extensions of credit. The service is very similar to those provided by Visa or MasterCard, but in golles as it enables the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts paid plus the other agreed charges within the Mount Vema financial system.
The GolleCard issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance (mostly over the counter at a bank or other financial agency, up to a certain limit).
The new GolleCard facilities now also includes charge card, which requires the balance to be repaid in full each month. However, the main services remains the one which allows the consumer a continuing balance of debt, subject to interest being charged. GolleCard now also comes with facilities for cash card, which can be used like currency by the owner of the card, but all depending on the issuer.
WIBMOR, the logistics company of Mount Vema announced today that it is ready to deliver the mail, parcels and freight to Mount Vema from October, and from next week customers will be able to get automatic quotes and track their parcels from its webpage.
Companies and individuals planning to export products to Mount Vema will be able to check delivery costs and organize their business in line with fixed delivery schedules. The company plans to have special offers for Christmas and on important dates according to people familiar with plans.
Wibmor is currently the only logistics company established to provide courier, parcel, and services from anywhere in the world to and from Mount Vema. Operating around the world, in land, sea and air to serve the Kingdom of Mount Vema.
The company is primarily concerned with offshore and intercontinental deliveries, that supports the Vema Seamount Territory and City of Mount Vema Projects and continues to seek minor partnerships with local logistics companies in many countries.
Wibmor is constantly exploring ways to make its services affordable and is actively seeking contracts with service providers to enable the delivery of small packages to recipients in the most remote parts of the world.
The Vema Seamount Authority authorized his government today to grant new licenses to companies and people willing to operate floating hotels in Mount Vema to accommodate project architects, engineers, divers, environmentalists, journalists, and other members of the work force due to depart to Mount Vema.
The successful applicants will only need to bring the qualified manpower, as the equipment, supplies and the cruise ships to be used as floating hotels will be provided by the Government and will be leased to licensed hotel operators for five years.
Although the license application is open to everyone, the government is encouraging especially those with background in hospitality who are departing to Mount Vema to work as Chefs and who already have a Mount Vema Temporary work Permit, to apply to operate the floating hotels.
The license can be renewed every five years and so is the lease which can be subleased to another person. The owner will have the responsibility to maintain the hotel opened throughout the year and maintain the highest standards of service with full accountability for budgeting and financial management, planning, organizing and directing the hotel services, including reception, concierge, reservations, and food and beverage operations of their hotels.
Hotel owners will need to have a strategic overview and planning ahead to maximize profits, pay attention to details, setting the example for staff to deliver a standard of service and presentation that meets guests' needs and expectations when visiting Mount Vema. The hotel owners must also promote and market the business abroad (outside Mount Vema) and if necessary organise events to attract new customers.
Revenue Potential: Hotels in Mount Vema, especially at this stage of development depending on the type of license granted will generate over 1 million golles per year in revenues with a profit of over 1 million golles per year, and this is just for a license for a floating hotel with a minimum 500 rooms. There are licenses available for floating hotels with over 2000 rooms.
Where will the customers come from? If you are worried about where your customers come from, just look into the amount of work activities that will take place in Mount Vema in all industry sectors. They will all need a place to stay, and some will be on long term contracts. Some will have their accommodation paid to the hotel by the employer and some will be on salaries that will enable them to pay for their hotel room themselves.
Request for license applications forms should be submitted as soon as possible. A License for a floating hotel with up to 500 rooms cost 25,000golles, a license for up to 1000 rooms costs 50,000golles, for up to 1500 rooms costs 75,000 golles, and for up to 2000 rooms cost 100,000 golles.
License payment are flexible, the license applicant can pay 10% of the license fee on application, 40% upon departure to Mount Vema and 50% after arriving in Mount Vema. License owners will be able to start making money from the business from day one upon arrival.
The entire license application process takes between 2 weeks to 2 months, and it is processed faster when the applicant already applied for a Mount Vema visa or other type of permit. To express interest, contact www.mount-vema.com – use the official contact page.
MONTfisheries, the fishing company of Mount Vema confirmed plans to build two modern fishing vessels to help the Vema Seamount Territory meet its 2025 fisheries exporting targets first announced by His Mount Vema Majesty’s Government in August.
MONTfisheries which is currently the only company licensed to fish within The Vema Seamount Territorial Waters said the two shipbuilding projects will be put to tender on January the 10th, 2019 to comply with a government policy introduced to promote competition.
The competition policy states that any project costing more than 50,000 golles must be open to everyone and contracts must be awarded to the best proposals. The policy was also introduced as part of The Vema Seamount Authority plan to build a society where you don’t make it because of who you know or where you come from, but because of your ability to get the job done.
The plans confirmed by MONTfisheries today is most likely to be welcomed by foreign shipyards who will be expected to bid for contracts. In a statement issued this morning, His Mount Vema Majesty’s government who first announced the plans in August to join the list of top fish exporting countries as part of a long-term strategy to help combat hunger with fish and fishery products, welcomed the announcement.
The Vema Seamount Territory plans to reach and maintain annual targets of 200,000+ tons by 2025, approximately 400 million golles of fish stocks from both capture and aquaculture, first got the support of MONTfisheries in August when the company signalled that it was onboard after instructing W-Contractors to search for companies to design and build its aquaculture installations in Mount Vema.
W-Southern, the transportation company of Mount Vema, announced plans to raise more capital at the Gollexi, to invest in more yachts to increase the number of luxury yachts available for charter in Mount Vema as demand increases from owners of Mount Vema properties off-plans planning to travel to the territory to visit and experience the underwater world where their floating homes will be.
The company realised that the practice of renting or chartering, a sailboat or motor yacht to stay in Mount Vema, for privacy, relaxation or fishing within the Vema Seamount Territorial waters for individuals, families or as a corporate event is about to become big business.
W-Southern plans to have two main kinds of charter available. One will be bare-boat and crewed charters which involves a person renting a boat or cabin and skippering it if renting the whole yacht, and the other way is gathering up a group and renting the yacht with them.
People associated with the plans, have told VSBCnews that they are already in talks with RMVFA – The Royal Mount Vema Foundation Academy to offer courses to teach basic seamanship and prepare people for bare-boat chartering.
The academy will not offer the courses directly but will use its licence to sub-contract the services to foreign companies, as it already has a database of foreign private education businesses who regularly express their interest in providing private education and training to Mount Vema if required.
With W-Southern plans, people will have the option to book crewed charter, which means the yacht will come with a crew. This can be anything from a 35-foot boat with a husband-and-wife team serving as captain and chef to a 300-foot boat with a squad of 30 or more crew members including stewardesses, engineers, mates, deckhands, scuba dive masters, and more.
Two sub categories of yacht chartering will also be available. One will be un-inspected passenger yachts, also known as 6-packs which carries only six or fewer passengers. All captains will start out by getting their "six-pack" licence which must be issued by the Royal Mount Vema Coast Guard.
6-pack yachts according to W-Southern, will be ideal for smaller groups of six or less, and these yachts have a variety of types and sizes. For example, six packs can be sailing yachts, fishing boats, or power yachts and anything in between. While this type of charter will be the least expensive of the two, people will still need a licensed captain, or skipper with them at all times.
On six-pack charters people will be able to choose their menu and the type of cruise they wish to take be it to liveaboard in Mount Vema, diving expeditions, deep sea fishing and visit different sites during and after the City of Mount Vema construction, or an ocean adventure voyages to the South Atlantic Islands, South America, Southern Africa and beyond.
The other option will be the inspected passenger vessels. Inspected charters are designed to carry groups large than six passengers. These charter vessels can range from large sailing yachts to dinner cruise ships. These charters will be designed to carry up to several hundred passengers. Inspected vessels will offer many different features that an un-inspected passenger yacht cannot. Features like catering, live music, or a DJ will be available on these larger ships.
Prices will vary the cost of a chartering will be determined by several factors including the size of the yacht, its age, its pedigree, the number of crew, and the destination. W-Southern range of charter prices per person per week will start from the equivalent of 500 golles up to and in excess of 10,000 golles. Mega Yacht or Super Yacht that are over 150-foot to 300-foot could cost anything from the equivalent of 25,000 golles up to 350,000 golles per week.
MONTfisheries instructed W-Contractors to search for companies to design and build its aquaculture installations in Mount Vema. The deal was made just hours after W-Contractors launched an international campaign to hire sales representatives to invite businesses and organisations to bid for City of Mount Vema projects both corporate and government contracts.
With this new deal, W-Contractors will expand recruitment that started in New York City – United States this week, to find potential contractors and sub-contractors with the aim to attract businesses willing to bid for contracts. The sales representatives will strive to secure repeat deals wherever possible and will maintain good relationships with those contractors or sub-contractors who will become existing bidders for contracts.
Handy Deed, the leading building company of Mount Vema is also bidding to build this MONTfisheries project, however as part of government policy, competition must be open to everyone and contracts must be awarded to the best proposals.
While some forms of aquaculture can be devastating to ecosystems, other forms can be very beneficial. So MONTfisheries is looking for a company that will propose installations with minimal or no damage to the Vema Seamount marine environment.
MONTfisheries aquaculture project will provide for crucial ecological functions and could potentially increase abundance and maintain biodiversity. The shelter will raise stocks of prey fish and small crustaceans by increasing recruitment opportunities in turn providing more prey for higher trophic levels.
A growing number of companies are listing on the Mount Vema Stock Exchange, according to a new data released by the Gollexi. But why are they listing and why on the Gollexi? According to economists at the Royal Mount Vema Foundation Academy, companies are not just listing because it creates a market for their stocks, or because it increases a company's ability to make acquisitions, but most importantly, they’re listing because it provides access to capital.
The Mount Vema Stock Market is less than a decade old and already has a total market capitalisation in excess of 2 billion golles and is expected to exceed 100 billion golles by 2020. The market aims to be the largest stock exchange in Southern Africa, including the South Atlantic and the region's most internationally focused as the regional financial center with all the major banks already signing up to have representative offices in Mount Vema.
Any company considering an IPO on the Gollexi market, the Mount Vema Stock Exchange, must first identify what steps should be taken towards achieving that aim, as the Gollexi is already becoming well-known for its high standards of regulation.
Careful consideration should be given to the following issues in preparing for a listing: Deciding on the method of listing, e.g. an introduction to the market, raising new money, a public offer or a placing to institutional investors.
Any Company and its lawyers will need to consider how best to approach the listing in terms of the Company’s corporate structure and financial reporting history, given that the Company is not registered with the Kingdom of Mount Vema.
Key issues will include whether the Company itself should be listed or should a Mount Vema holding company be created for the purposes of the listing. Have the Company’s accounts prepared in accordance with International Financial Reporting Standards (IFRS).
Due Diligence - as regards to legal and financial due diligence for the IPO, this will understandably be a time consuming process. Early preparation particularly as regards collating and centralising material contracts is important.
Tax - If the Company needs to be reorganised as part of the review of the corporate structure then any tax impact will need to be considered well ahead of time to ensure that any necessary tax clearances from the relevant fiscal authority can be obtained.
How much does a listing cost?
The total average fees for a main market listing depend on the size, sector and structure of the Company coming to the market as this affects the nature and level of due diligence required. The base level for admission costs would normally be in the region of 250,000 – 500,000 thousand golles.
On top of these fees, the Company will need to pay the broker’s fees for raising the funds (unless listing by way of an introduction) which may be in the region of 4-6% of funds raised. The Gollexi calculates on the number of stocks of a listed security but they are capped at 500,000. The annual fees are approximately 50,000 golles.
It is difficult to be precise on the length of time for a listing since the process is influenced by so many variables being the size, sector and structure of the Company, the method of flotation being used and the degree and complexity of due diligence which has to be conducted. Most flotations take approximately 4 to 8 months from the time that the decision is made to admission.
The process is complex and time-consuming and identifying a small team within the Company to commit their time and energies to driving the listing may be worth considering as it may be less disruptive than having all the directors continually interrupted during the course of their normal work. However, either approach will still require all the directors at some stage or another to provide documentation and information and review the listing documentation.
Companies need to appoint the following: Investment bank to manage the IPO process and co-ordinate the listing with the other advisors. Often, it will also act as financial adviser, sponsor and underwriter. Normally, the lead bank acts as global co-ordinator and a number of banks will also be appointed as bookrunners.
Lawyers are required to advise the Company itself, as well as any stockholder who is selling all or part of its stake as part of the IPO. The sponsor and underwriter will also require lawyers. The Company’s lawyers will be responsible for drafting the ‘back end’ of the prospectus which contains all legal information relating to the company including stocks capital, material contracts and litigation. They will also manage the ‘verification’ process, which seeks to ensure that the prospectus is not misleading in any way, thus protecting the directors of the Company against any claims by investors.
Reporting accountants, these must be separate from the Company’s auditors, although they may be made up of a different team from the same firm. Essentially, the reporting accountant is responsible for reviewing the Company’s financial record and internal systems for potential investors. They will prepare the long form report, the short form report (which is published in the prospectus) and the working capital report.
PR Consultants, the PR consultants will help to generate positive publicity and interest in the IPO by targeting either investors among the general public or institutions or both.
The Company, among many other things will need to appoint registrars, a receiving bank and any other advisors that may be required in relation to its specific business. More information is available at the Gollexi or by contacting the relevant government department through the contact page at the www.mount-vema.com
The Bank of Mount Vema announced today, that only two more commercial banking licenses will be granted now, until the bank makes the next assessment to see if more commercial banks will be needed to meet demand.
Any one wishing to operate a merchant bank under the laws of the Vema Seamount territory, must submit application for a license now, to operate a banking business within the Vema Seamount territory including online.
This will bring the number of licensed commercial banks to 4, from the 2 existing licenses as the government plans to issue no more commercial banking license for at least 30 years, to be reviewed every 10 years.
Under the laws of the Vema Seamount Territory a business is not permitted to carry word bank in its name, unless it holds a corresponding license. The licenses can be for FULL BANKING LICENSE for general banking activities, such as taking deposits from the general public. INTERNATIONAL BANKING LICENSE (offshore banking license), which prohibits any local business activities. Or NON-BANKING FINANCIAL INSTITUTION an institution that provides financial services but has to comply with less regulations than a full banking license.
Mount Vema commercial banking licenses will be issued by the Bank of Mount Vema to applicant corporations that meet the banking requirements of the Vema Seamount Territory. The requirements include minimum capital requirements, and minimum number of directors.
Mount Vema, is no tax haven, as you will not find lax or corrupt standards in bank licensing, neither the granting of license, for example, to shell companies, or to companies with nominee directors, or with dummy shareholders, etc. The granting of the license may involve a long, complex and expensive procedure, so the Bank of Mount Vema says that it is preferable that candidates apply as early as possible.
Licensing or Approval for the Conduct of Mount Vema Banking Business
Bank of Mount Vema admission criteria apply across the board to all financial institutions engaged in banking activities. In assessing an application for banking licence or to operate as a commercial bank, the Bank of Mount Vema takes into consideration, the following factors:
A representative office will not be allowed to transact any banking, securities or any other business in Mount Vema. A representative office may carry out liaison work, market research or feasibility studies.
Prospective applicants are encouraged to contact Banking Department of the Bank of Mount Vema (mount-vema.com / contact us) at an early stage to discuss their plans prior to submitting a formal application. Preliminary consultation with a prospective applicant enables The Bank of Mount Vema to discuss the licensing requirements with the applicant and to identify issues that may have a significant bearing on the proposed application. All applications will be promptly processed by The Bank of Mount Vema. The processing time depends on the circumstances of each application and the completeness of information submitted by the applicant to the Bank of Mount Vema.