General Terms and Conditions

§ 1 Scope and contracting party

(1) These terms apply to all contracts between Flubes Limited, registered in the Republic of Cyprus under HE 433660 ("the Provider"), and its clients via the WealthBorders platform.

(2) The Provider renders services exclusively to entrepreneurs. By entering into the contract, the client confirms that it is acting in the exercise of its commercial or independent professional activity. No contracts are concluded with consumers.

(3) Deviating terms of the client apply only where the Provider has expressly agreed to them in text form.

§ 2 Scope of services

(1) The Provider renders services in connection with the formation and administration of companies, trusts and foundations in the jurisdictions listed on the platform, together with related administrative services.

(2) The scope of each service follows from the product page at the time of the order. The statements made there as to what is and is not included form part of the contract.

(3) The Provider does not render legal, tax or investment advice. Information on tax rates, legal forms and regulatory conditions serves general orientation only. An assessment of the individual case is not owed and forms part of the contract only upon separate instruction.

(4) The Provider may engage third parties to perform its services, in particular local service providers, registered agents and notaries in the relevant jurisdiction.

§ 3 Formation of contract

(1) The presentation of services on the platform does not constitute a binding offer.

(2) By submitting an order, the client makes an offer to conclude a contract. The Provider confirms receipt and issues an order number. The contract is concluded upon acceptance by the Provider in text form.

(3) The Provider may decline an order without stating reasons, in particular where the intended activity falls outside the scope of services or where required information is not supplied.

§ 4 Client's duty to cooperate

(1) The client shall provide the documents and information required for performance completely and correctly, in particular proof of identity, proof of address, details of beneficial owners and of the source of funds employed.

(2) The Provider is subject to customer due diligence obligations. Performance does not commence before these have been satisfied. Delays resulting from incomplete cooperation extend agreed periods accordingly.

(3) The client shall notify changes to the information provided without delay, in particular changes of address, of shareholdings and of beneficial owners.

§ 5 Time and deadlines

(1) Statements as to duration are based on experience and refer to the period commencing upon complete cooperation by the client.

(2) Periods attributable to processing by registries, authorities, notaries or banks lie outside the Provider's sphere of influence. They do not constitute committed deadlines.

(3) A fixed date applies only where expressly agreed as binding in text form.

§ 6 Prices and payment

(1) All prices are net and exclusive of value added tax.

(2) Government fees for the first year are included in the stated formation prices unless the product page states otherwise. Share capital, deposits and contributions are not included.

(3) The fee falls due upon conclusion of the contract and is payable in advance. Performance commences upon receipt of payment.

(4) Payment is made via the payment methods provided by the Provider. Where payment is made by bank transfer, the order number shall be stated as the reference.

(5) In the event of default in payment, the Provider may suspend performance until settlement.

§ 7 Recurring services

(1) Services with recurring fees — in particular registered office, registered agent, company secretary, nominee services and bookkeeping — are rendered for an indefinite term.

(2) For company-related services the first billing period commences on the date of registration; otherwise upon conclusion of the contract.

(3) The Provider announces the due date in good time and issues an invoice on the due date.

(4) Either party may terminate with three months' notice to the end of a billing period. Termination requires text form.

(5) Where a recurring service that is mandatory in the relevant jurisdiction ends without the client arranging a replacement, this may result in the company being struck off. The Provider gives notice of this; the consequences are borne by the client.

§ 8 Invoicing service

(1) Under the "invoicing service", the Provider concludes contracts in its own name with the end clients named by the client. The client renders the service as subcontractor to the Provider.

(2) The Provider issues the invoices, collects payment and remits it to the client upon receipt, less the agreed fee.

(3) No advance funding is provided. Payouts are made weekly following receipt of payment.

(4) Client funds collected are pass-through items for the Provider. The Provider's income consists solely of the agreed fee comprising base charge and volume component.

(5) The client warrants that the service it renders is not subject to licensing requirements. Licensable activities, financial and insurance services and healthcare professions are excluded from the scope. The conclusive list of permitted activities is published on the product page.

(6) Individual invoices exceeding EUR 25,000 require prior agreement.

§ 9 Confidentiality

(1) Both parties shall treat information obtained in the course of the cooperation as confidential and use it solely for the performance of the contract.

(2) This obligation survives termination of the contract.

(3) Statutory obligations of the Provider to provide information, report or retain records remain unaffected.

§ 10 Liability

(1) The Provider is liable without limitation for intent and gross negligence and for injury to life, body or health.

(2) In all other respects, liability is limited to the fee paid for the order concerned.

(3) The Provider is not liable for decisions of registries, authorities, banks or other third parties, in particular for the refusal of a registration or the opening of an account.

(4) The Provider is not liable for the tax or legal consequences of the chosen structure in the country of residence of the client or its participants.

§ 11 Limitation period for claims

Claims against the Provider must be asserted in text form within twelve months of becoming aware of the circumstances giving rise to the claim. Thereafter they are excluded. Claims arising from intent, gross negligence and injury to life, body or health remain unaffected.

§ 12 Governing law and dispute resolution

(1) The law of the Republic of Cyprus applies, to the exclusion of the UN Convention on Contracts for the International Sale of Goods.

(2) Disputes arising out of or in connection with this contract shall first be submitted to mediation under the Mediation Rules of the Cyprus Arbitration and Mediation Centre (CAMC). If the mediation does not result in a settlement within sixty days of its commencement, the disputes shall be finally settled under the Arbitration Rules of the CAMC.

(3) The seat of arbitration is Nicosia, Republic of Cyprus. The arbitral tribunal shall consist of one arbitrator. The language of the proceedings is English. The appointing authority is the Board of Directors of the CAMC.

(4) Paragraphs 2 and 3 do not apply to undisputed monetary claims for services rendered. For these, the state courts at the Provider's seat have jurisdiction.

§ 13 Final provisions

(1) Amendments and supplements require text form.

(2) The Provider may amend these terms with effect for ongoing continuing obligations. It shall notify the amendment at least six weeks before it takes effect. If the client does not object in text form within this period, the amendment is deemed accepted. The notification shall draw attention to this consequence.

(3) Should any provision be invalid, the validity of the remaining provisions remains unaffected.

§ 14 Language

These terms exist in German, English and Russian. In the event of discrepancies, the German version prevails.