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Privacy Management Group^FZ-LLC regularly checks and updates the information on its websites. Despite all due diligence, it is possible that some facts have changed in the meantime. It is therefore not possible to assume liability or provide any guarantee as to the relevance, completeness or correctness of the information provided. The same applies for all other websites that are accessed through the hyperlinks provided. Privacy Management Group^FZ-LLC is not responsible for the content of websites that are accessed through these links. Furthermore, Privacy Management Group^FZ-LLC reserves the right to make changes or additions to the content provided. In addition to the content and structural copyright protection rights of Privacy Management Group^FZ-LLC websites, the reproduction of information or files, in particular the use of texts, extracts or images, is prohibited without the prior written consent of Privacy Management Group^FZ-LLC.

None of the content on any of the Privacy Management Group^FZ-LLC web pages represents an individual recommendation nor is it to be understood as an invitation to trade, default or purchase. Privacy Management Group^FZ-LLC also explicitly points out that you should seek advice from experienced tax consultants and/or lawyers, in particular for any cross-border activities. In principle, any income generated domestically or internationally is subject to taxation. It is solely your responsibility to fulfil your domestic and/or international tax obligations appropriately. Privacy Management Group^FZ-LLC does not accept liability under any circumstance. Additionally, our General Terms & Conditions as well as our Data Protection Provisions and Legal Details apply.

Privacy Management Group^FZ-LLC, Ras Al Khaimah, United Arab Emirates – A company in association with the Privacy Management Group – henceforth referred to “PMG”.

These General Terms and Conditions – henceforth also referred to as “AGB”, “Terms and Conditions” or “General Terms and Conditions” – are a legally binding component of all supply, consultation, placement, service and user agreements, as well as other services not explicitly listed herein, which are provided / will be provided either directly or indirectly by PMG for the contractual partner – henceforth also referred to as mandator, client, contractual partner, interested party or also referred to as user.

1) Basic provision and utilization requirements

PMG provides all previously described services exclusively on the basis of these General Terms and Conditions. PMG may amend the General Terms and Conditions with a prior notice period of one week. PMG will post a written notice of each change, or a new version of the T&C will be marked in the according place within the website. At the same time, the client is herewith expressively notified that the respective change will be a component of the contract, existing between the contractual parties, in the event that the client does not object in writing and per registered mail, within a notice period of two weeks after the announcement by PMG, to the change. In the case that the client objects in writing, both parties have the right to terminate the contract verifiably, in writing and per registered mail, within the valid termination notice period. The client does not possess a claim for reimbursement of payments previously made to PMG.

With the visit to the website of PMG and the respective use thereof, but at the latest with contacting PMG, no matter for what reason and in which manner, the user declares in a legally binding way to agree to these Terms & Conditions, as well as to the legal & usage agreement of PMG, to have agreed and acknowledged everything without restriction. Additionally, and / or complementarily, every person who contacts PMG in person, in writing or by telephone, declares that they are a fully qualified merchant (a business person in the legal sense – not a business founder). Should a person not be in agreement with Articles of these General Terms and Conditions in addition to liability and legal notices, or should a person not be in accordance with the requirements that PMG has towards its clients, this person / client is herewith asked to leave the website immediately. PMG especially forbids such a non-qualified user to request information or offers from PMG, in particular, to not apply for and / or claim services and not to undertake other actions that would lead to a contract with PMG.

The aforementioned provisions also result in distinctive features regarding the prevailing right of revocation and withdrawal. With reference to the aforementioned provisions, a right of revocation and withdrawal is therefore categorically precluded.

Privacy Management Group places the greatest value on the prevention and fight against money laundering, financing of terrorism, organised crime and other offenses. Privacy Management Group is a regulated group of companies that fulfils the international standards concerning the fight against money laundering and financing of terrorism. Our employees are regularly subject to training courses, presented by our internal anti-money laundering representative.

PMG expressly calls attention to the fact that earnings generated abroad may also be subject to taxation in the home country of the client. In addition, PMG expressly advises every client to seek a consultation with a legal or tax advisor who is familiar with the personal financial and fiscal circumstances of the client, prior to the client taking any action. The consultation by a legal or tax advisor should, therefore, and in every case, occur prior to the conclusion of the contract with PMG. You, the client, are solely responsible for the adherence to all international tax responsibilities in your home country or abroad. PMG offers no liability towards the client or even third parties if the client does not fulfil his tax requirements, partially or in full.

All website content made available by PMG merely serves to inform the user. PMG, author / publisher, endeavours at all times to exercise due care in the creation of the posted informational offers. However, PMG expressly assumes no warranty and / or liability in respect to the accuracy, the completeness, the timeliness or the availability. The full range of content represents neither an individual recommendation nor is the content and presentation to be understood in terms of an invitation / request / offer to act, to avoid, to buy or to sell. All informational offers and presentations on these websites are exclusively oriented toward an independent and autonomous decision of the reader and do not replace a legal and / or a tax-law consultation. This is especially valid in view of all matters concerning legal or tax issues of the client, concerning the proper implementation of his plans and the thereof resulting legal and tax duties.

These above-mentioned regulations and requirements are also valid in case that the user contacts PMG in writing, verbally or personally to request information or offers from PMG. The content of all information from PMG or from third parties, irrespective of what kind, towards the user, expressively does not serve as a replacement for a thorough consultation with an experienced lawyer or tax advisor, nor do they represent a recommendation or request to undertake or to refrain from certain actions. PMG, co-workers, and representative third parties give information, in all manner, without any liability. If the user enters into a contract with PMG to execute certain actions, then PMG rightly assumes that the user has consulted an applicable tax advisor or lawyer. In no case, is PMG liable towards the user or even towards third parties for actions or omissions that are the responsibility of the user or by him commissioned third parties. Only transmitted offers in writing and individually addressed to the user by PMG possess validity. The validity period of an offer that has been addressed to the user in general lies at 48 hours, should no deviating period have been agreed upon.

The fundamental reservation concerning changes and errors applies for all publications, service offers, depictions, and prices.

(2) Occurrence of contract

Generally, a contract between the user and PMG comes into being by the user placing a request for service to PMG and PMG accepting this request by means of invoicing, order confirmation or by delivery, if applicable, execution of service. Furthermore, a contract can be legally concluded by actions and/or verbal or formlessly written orders between the user and PMG. In this, just as in any similar case, the user in a legally binding way declares towards PMG that he agrees with the Terms & Conditions and has taken notice of theses without restrictions. PMG is entitled to reject each incoming order, no matter of what nature and without naming of reasons.

(3) Service payments, compensation, fees, annual charges and public dues

Unless otherwise agreed upon between the client and PMG, every service provided by PMG for the client is to be paid in advance. Exemptions to this are postage, shipping, and telephone expenses in the context of the PMG office service. Services performed by PMG, which are not expressly included in the invoice will be billed separately to the client by PMG.

Fees agreed upon in a lump sum are expressively exempted from the duty of compensation towards PMG, except if the contractual partner demands services that go beyond the service circumference agreed upon in writing.

Service payments are payable by the client immediately and without deductions, within three bank days upon invoice date, counting from the electronic transmittal of the invoice. In the case of default, PMG is permitted to impose interest in the amount of four percentage points above the UAE discount rate per year. Should PMG be in a position to substantiate higher damages caused by the default, it is permitted to claim these. In the event of a special delay of payment, if the client does not pay the invoiced services and/or expenses within fourteen days after transmittal of the invoice by PMG, PMG is also permitted to cease all services immediately including not accepting and / or not sending on forwarded post and taking incoming telephone calls within the scope of the postal and telephone service (mail forwarding from registered address). PMG is expressly not liable for the consequences and damages resulting thereof. Should the client not fulfil his payment obligations to PMG in due time and in full, PMG will send one electronic overdue notice to the client and demand payment within a new deadline. Should the client still not comply with this notice in due time with full payment, PMG is at all times permitted to terminate the contractual relationship with immediate effect (grounds for a termination with good cause). PMG may forward the termination electronically to the client. The following categorically applies for all services offered by PMG: In the event of any kind of payment default, PMG is at that time permitted to invoke the right of retention, as regards to any and all business data and documents of the client, prior to sending an overdue notice. Upon full payment to PMG by the client of all outstanding claims, PMG declares itself at that time prepared to hand over and / or forward by mail, all of the business data and documents held back under the right of retention, to the client within 14 business days. The client is responsible for all costs arising out of the forwarding of the material, in particular, transport and shipping costs.

PMG retains the right to change running costs (i.e. annual fees, administration fees, fees for reg. office and agent, licensing fees, office service fees, trustee fees, etc.). The client is to be informed about such a change in advance by electronic means, at the latest during invoicing of the respective services. If the change of fees relates to an increase of more than 10% compared to the previous year, then the client has the right to cancel the concerned services in writing, within a notice period of 14 days after announcement thereof. If the client does not terminate or if the outstanding invoice has been paid in full, then the client documents his unrestricted and legal agreement. The client has to raise complaints about invoices in writing immediately, at least through electronic means, at the latest within 5 working days after receipt of the invoice. The right to offset only applies to the client if his countering claims have been legally determined in court and this decision having been finally accepted by PMG.

Additionally, the following regulations concerning the due date and the payment delay for annual fees (the term of annual fees describes and includes the annual administration costs, the fees of the reg. agent, the fees of the reg. office, occurring registration fees and public duties, annually reoccurring licensing fees and fees for a required license renewal, general administration fees, administration lump sums, etc.): The annual fees are to be paid by the client in a timely manner to PMG. Timely manner, in this case, means that the annual fees are booked at least 21 days before the respective final date/payment day on the account of PMG. Only in this manner can PMG guarantee that possibly in the amount contained registration fees, remunerations, public duties, etc. can be paid in a timely manner to the respective company and that, thereby, no fines for overdue will be booked to the client and his company. Should the client not transfer the annual fees within at least 21 days before the valid final date/payment day to PMG, then PMG carries no liability for additionally thereby occurring fees for overdue (also called penalty fees). In any case, this PMG and the client herewith agree upon bindingly, that PMG itself will invoice a penalty fee to the client, should the due annual fees not be paid on the final date/payment day at the latest onto the business account of PMG and be booked in full and without deductions.

The following penalties/overdue fees apply for belated payment of the annual fees by the client to PMG. At non-payment within a period of seven days until final date/payment day, the applicable penalty fee raised by the respective applicant is enlarged to fifty percent by PMG (penalty fee/administration fee). At non-payment within a period of twenty-eight days after final date/payment day, the applicable penalty fee raised by the respective applicant is enlarged to one-hundred percent by PMG (penalty fee/administration fee). Independent from that, PMG retains the right to announce the termination due to important reasons towards the client. Furthermore, all applicable regulations also apply, these have been extensively detailed in these T&C. The client is expressively instructed, that the final date/payment day for the due date of annual fees, agreed upon at the beginning of the contract, may change. This can, for example, occur due to a change of law or upon order by a respectively applicable institution. In this case, PMG is not liable for damages towards the client that have been caused by such a change.

(4) Termination periods and the termination for important reasons, transfer of a company, cancellation of an existing company

– the client is overdue with his payment towards PMG;
– the trust relationship between PMG and the client is permanently disturbed;
– a contractual partner violates repeatedly and culpably against the duties that result from the existing contractual relationship.

A termination, no matter for what reason, must take place in writing and per registered mail. Neither through a regular termination nor a termination for important reasons, can PMG be obligated to repay already possibly executed payments. In the case of termination, a repayment duty by PMG to the client is irrevocably excluded.

Should the client wish to transfer the administration of his company to a different service provider, he may declare this to PMG in the course of an ordinary termination and under adherence to agreed notice periods. The fees in connection with the transfer amount to a one-time payment of Euro 1,400.00 which is to be paid to PMG by the client before the transfer of the company. In the case of an early contract termination by the client, no entitlement to reimbursement of fees already paid exists. Notice regarding the deletion of a legal person from the relevant company and / or commercial register: PMG is able to arrange for the deletion of a legal person administered by PMG through appropriate third parties, which is subject to a charge. The fee for this service, which PMG will invoice the mandator for, is dependent on the country of residence and the legal form of the legal person. Please ask PMG to provide you with a written quote prior to the formation of a company. PMG is in no way obliged to delete existing companies, which were founded by PMG or a third party, upon a customer request. The client may request this service from PMG and submit an appropriate billable application. A commitment of acceptance of such an application will, however, only be issued through a written agreement/acceptance by PMG to the client. PMG expressively offers no aid for the termination of accounts, credit cards or other bank services.

(5) Duties of information

The client is at all times solely responsible for the correct input and / or transmission of data to PMG, which is required for the discharge of the contract, to provide requested services and / or for the use of services. The client is to notify PMG about changes of all data relevant to the contractual relationship (home address, family status, telephone number, e-mail address, significant economic changes, etc.) in writing, per registered mail and without delay, no later than seven days after a change occurs. The client is additionally required to ensure that his data on file with PMG is at all times updated, thereby ensuring a constant accessibility through the post and by digital means (e-mail). Any damages resulting for the contractual partner out of an inability by PMG to reach him in writing will not be assumed by PMG (e. g. fines due to missing a deadline, checks, missed objection periods, etc.). PMG is not required to perform research. Should the client fail to inform PMG in writing and in due time about changes in his contact details, notifications that arrive with PMG for the client (office service) and written statements, will be considered to have been duly delivered to the client, if they have been sent to the last known postal address or e-mail address available to PMG. PMG is not liable for any damages that hereby occur to the client or his company or even unknown third parties.

The client is required to check the information provided for the execution of the mandate (company name, product designation, logos, domain names, etc.) for instances of any potential copyright and / or trademark infringement or other violations of the rights of third parties. PMG, commissioned trustee bodies and other with PMG connected companies and natural persons are not liable in this regard, whether directly or indirectly, towards third parties in any way.

At no time do PMG and the client enter into an ownership structure or cooperation with one another. The client is to refrain from anything that may give third parties such an impression. Additionally, the client is expressly prohibited from connecting his company with PMG in any way towards third parties. The client is furthermore not authorised to refer to PMG, its employees or its agents in connection with his company, his work, etc. by name. A violation by the client against this regulation is considered to be a good cause for termination. PMG expressively reserves its right to claim for damages and to file for other civil and criminal judicial actions.

Should the client use a trustee service, he is expressly not permitted to identify natural persons as officers of his company. The trustee service of PMG mediates and is carried out by legal persons, and only these may be referred to as “bodies of the company” externally and to third parties. Should the client violate this provision, PMG is entitled to terminate with good cause. PMG expressly reserves its right to claim for damages and to file for other civil and criminal judicial actions.

(6) Liability of PMG

PMG is liable, according to a legal determination, only when attributable violations of obligations are based on wilful intent or gross negligence or PMG violated an essential contractual obligation at least through gross negligence. Apart from that, liability and / or a claim for damages against PMG are precluded.

Generally, all claims must be submitted immediately, whether justified or unjustified, by the client to PMG in writing (letter per registered mail), at the latest seven days after delivery, the provision of services, occurrence of damage, etc. Otherwise, the claim, even in justified cases, of the client for compensation, adjustments or even replacement by PMG is void without substitution. If on the delivered service or at the product, changes have been undertaken, then generally, the liability claim is void. The liability duty of PMG towards the client is generally restricted to adjustments or replacement. In the case of justified and timely claims, the client is entitled to repair or replacement of the service by PMG. In the case of a legitimate notice of deficiency, the deficiency will be corrected within a reasonable time, whereby the contractual partner must facilitate PMG to undertake all necessary measures to investigate and correct the deficiency. PMG is entitled to refuse to repair the service if the repair is impossible or results in a disproportionately high expenditure for PMG. Deficiency claims of the client or an announced reason for compensation of the client have categorically to be proven flawlessly by the client in court. In the case of a legally and flawlessly proven and justified compensation claim towards PMG, already now it is bindingly agreed upon by PMG and the client: If a violation leading to compensation duty by PMG is proven flawlessly in court, already now it is agreed upon that PMG is liable only up to an amount of EURO 1,000.00, independent of the size of the determined actual damage. Compensation claims lapse according to the legal regulations, nevertheless, the latest with the expiration of one year after the execution of the non-contractual service. Generally, a reversal of the burden of proof by PMG is excluded. The detection of the deficiency at the time of the hand-over and the timely manner of the compensation claim have to be proven beyond reasonable doubt by the contractual partner.

PMG cannot fundamentally guarantee that the desired name will be entered into the relevant commercial and / or company register. PMG is expressly not liable for damages incurred by the client / interested party as a result of a specific name and / or a subsidiary not being registered, even if this name has already been verbally confirmed by PMG in advance. The application for state and / or public licences and public permits requires the consent of an appropriate and legitimate public authority and / or public body for the issuance thereof. Such decisions are by nature not foreseeable. For this reason, PMG accepts no liability for the rejection of applied-for licences / permits and the resulting consequences concerning the results or /and the duration of application. PMG is not liable for consequences, damages or other disadvantages due to the rejection of the applied license/permit and the thereby caused delays for the client, no matter of what manner. Unless, the delay is based directly on a timely delay that is provingly caused by gross negligence or intent on the part of PMG. This regulation is valid for all services, to be executed by PMG, that a client receives or releases an order for. PMG, therefore, is also not liable for timely delays during the account opening (inc. credit cards, online banking) or account closure, for timely delays during the issuance or even the transfer of documents, and so forth. The client is always required to prove gross negligence or intent, beyond a reasonable doubt.

(7) Commissioning of suitable third parties and liability

PMG is entitled, at their discretion to carry out the requested and / or ordered services of the mandator themselves, to avail themselves of the provision of services covered by the contract by appropriate third parties and / or to substitute such services (“supply agent”).

PMG will carefully select supply agents and ensure that these are in possession of the required specialist qualifications. The banking service segment, active aid for the opening of business accounts is the sole responsibility of PMG, while the Privacy Management Group Ltd., Cyprus, may serve as a performing agent. The offered and mediated trustee service of PMG, nominee director, a nominee shareholder, and the secretary is always performed by third parties, so-called trust companies. PMG is, in this case, the only mediator between the client and the mediated trust company. For disputes or even damages out of this contractual relationship between the trust company and the client, PMG is expressively not liable. This exclusion of liability is especially applicable towards third parties. A trust director, trust shareholder (also called nominee director or nominee shareholder) and/or trust secretary (trust company) are expressively not liable for the success or failure of the client. In particular are the trustee and/or the nominated secretary not responsible for the fulfilment of fiscal duties of the client and/or his company. A liability on the part of PMG and the mediated trust company is also excluded in the case that they conclude a contract with third parties upon instruction of the client. PMG and the trust company, in general, are not liable for damages, neither directly nor indirectly, towards the client, his company or even unknown third parties. The client has to inform each of his contractual partners that the position taken by trustees in his company is in fact occupied by trustees. Furthermore, he has to take care that neither the trustee nor PMG can be held liable/be liable towards third parties in any way. The client and his company are solely and exclusively liable for all existing or future contractual agreements towards third parties, for every kind of fiscal debt, for violation of laws of any kind, locally or abroad, for competition violations, for the complete business area and other circumstances that occur due to the client and/or his company undertaking or refraining from his/their duties. The client is at this point expressively again notified, that the profits generated at home/at his place of residence can be objected to fiscal duties. It is alone the clients’ duty to consult a lawyer and/or tax advisor concerning this matter and to be regularly accommodated by them. The trusteeship mediated by PMG and executed by the trust company is not allowed to be used by the client to undertake illegal activities and/or to give a wrong impression towards third parties. PMG and the mediated trust company, besides its’ bodies, are to be kept clear of all duties towards third parties. Contractual obligations, except towards the client within the framework of the concluded trustee contract, the trustee does basically not enter into in this connection. Also, and especially, not towards third parties. Should the client violate this rule, then PMG is entitled to terminate due to important reasons. Compensation claims and other civil and legal steps are expressively reserved by PMG and the trust company towards the client and his company.

PMG is solely responsible for the area of the Office Service; agent hereby is the Privacy Management Group Ltd. in Cyprus.

(8) Account opening and participation duty of the client

It is within the sole discretion of the bank (following all financial institutes, a provider of merchant accounts and other financial service providers are titled with the term “bank”), to accept or reject an application for account opening, online banking or even credit or debit cards. The assignment of PMG consists exclusively therein to introduce you to the desired bank and to actively accompany you throughout the account opening process. However, PMG assumes no guarantee that your envisioned company/corporate account will be approved and successfully opened/activated by the bank. PMG expressively points out, that every bank has the right to demand documentation, information, translations, receipts and attestations from the client, that extend beyond the limit of required proof depicted by PMG. Hereby, additional, not foreseeable costs and fees may arise for the client. For this reason, respective depictions on websites of PMG and verbal or written information of PMG towards the client, also concerning this matter, are non-binding and solely serve the purpose of overall orientation.

Incomplete applications or not correctly filled out form sheets can delay the process of account opening. Should the bank that the client envisioned, object the account application or reject it with or without mentioning of reasons, then the clients possess no right to a refund of the fees paid to PMG. A refund of the fees already paid by the client expressively also does not take place, if the client complicates the account opening unnecessarily for PMG or if PMG terminates the contract due to important reasons. An important reason, for example, exists in the following cases:
– The client does not comply with his informational and presentation duties, which are essential for an account opening, within a reasonable period – or
– The client makes incomplete or even false statements towards PMG and/or the bank– or
– The behaviour or statements of the client towards PMG lets the bank or even PMG suspect that the account that is being applied for is not being opened for the specified business reason – or
– The client rejects, even after written request by PMG, to present the information, documentation, etc. required in this connection in a complete and timely manner, latest within seven working days after request by PMG – or
– The trust relationship between PMG and the client is damaged in such a way that it seems impossible for PMG to execute the order in an orderly fashion – or
– PMG, the bank or the authorities at any time receive substantiated information that the client is engaged in unethical, anti-competitive or even illegal and / or criminal practices and / or is indirectly or directly taking part or took part in the same. Information obtained from the internet (for example from search engines) expressly suffices as so-called “substantiated information”. This also applies to “information not further substantiated” from cooperating banks or from appropriate authorities, whereupon PMG is informed that there are grounds that speak against a business relationship with the client, this would keep PMG from engaging in a business relationship with the client – or
– The commercial bank cooperating with PMG and selected by the client refuses, for whatever reasons, to work with the client of PMG. Such a rejection also represents a case for termination with good cause.

In all of the aforementioned cases, the claim of the client to reimbursement of payments made by him or upon his instruction to PMG is precluded. A termination due to important reasons has generally to take place in writing. Fees, which PMG raises towards the client for account mediation/aid for account opening, are only for the previously mentioned services and exclude mailing fees, documentation or even banking fees. All previously mentioned regulations refer expressively to the mediation or aid for the opening of an e-Money account, merchant account and other similar products and services.

(9) Guaranteed account opening

PMG guarantees, in connection with selected company establishment, the opening of a business account for the respective to be newly established company. PMG ensures with this “guarantee” towards the client an active, engaged and professional aid for the opening of the account envisioned by the client, including the active support of the application for account opening, preparation of the respective documentation and the correspondence with the bank during the account opening procedure. This guarantee loses its validity without replacement if the circumstances and/or reasons under one of the points mentioned in (8) of these Terms & Conditions leads to the termination for important reasons and/or should lead to the account opening not taking place. In this case, it is also conclusive within the under point (8) mentioned depictions of these Terms & Conditions, that the client is not entitled to a refund of already made payments to PMG, neither partially nor as a whole. It generally lies exceptionally in the estimation of the bank, the financial institute, the respective provider of similar products to approve or reject an application for account opening, online banking, and credit or even debit card, etc.

For better understanding, the term “bank” used in this T&C describes, besides the business banks, also financial institutes, credit card companies, and similar institutions.

(10) Offer service

The client has to ensure in this regard towards PMG and his own interests that every required participation, availability, all information, personal as well as company data, is provided for the execution of the service. Storage media provided by the client must be in perfect working order with regard to content and technical quality. Should this not be the case, then the client will replace to PMG all damages resulting from the use of these storage media. Should the client not perform his necessary active contribution, not perform it on time or not perform it to the extent necessary, the implications resulting thereof are the responsibility of the client. PMG reserves the right of ownership of the delivered products and services until the full payment of all demands arising out of the contract.

PMG is not liable for the replacement of data or programmes, insofar as the loss by PMG was not caused by willful intent or gross negligence. Liability will only be considered in such a case, if the client has ensured through appropriate measures, that the initially saved data or programmes can be replaced at a reasonable cost.

PMG assumes no liability for damages and delays through disruptions of the computer system, the data network, actions of third parties, or force majeure – also not for the text content of any type. The contractor is only liable for damages resulting from gross negligence or wilful intent.

You, the user, are solely responsible for the adherence to deadlines by third parties. For this reason, PMG is not liable for damages resulting from cases of postal delivery not being and / or could not be made in a timely manner to you. The user alone bears the responsibility to enquire regularly at PMG about the receipt of items of mail.

Claims: A claim will only be acknowledged by PMG if it is a justified claim, that has been submitted in writing within seven business days after knowledge by the client. Should changes have been made to the service provided, the warranty claim is void. The warranty claim is limited to repairs and replacement service. Liability exists only for damages resulting from gross negligence or willful intent by PMG. Damages have to be proven judicially and flawlessly. In the case of a judicially clearly proven and by the client documented compensation claim towards PMG, already now it is bindingly agreed upon: If PMG is proven judicially to be at fault, which has led to the client or a third party having experienced damages directly, then PMG is liable to a maximum amount of one annual fee of the client, according to the Office Service Package chosen at PMG. For complete flawlessness i.e. at writing tasks, no liability can be claimed. Compensation claims expire according to the legal regulations, but latest with the expiry of one year after the execution of the contractual service.

(11) Further regulation concerning liability, compensation, and claims

PMG expressively notes, that all by PMG publicised or in other forms mediated, or transmitted information and declarations are only of a general nature. The application in each case should only take place after consultation with a legal or fiscal advisor. For all, without this consultation occurring errors, no liability can be accepted.

On all web pages of PMG, PMG introduces itself and its work. Consultation only takes place with individual clients and after extensive evaluation of the individual conditions. For this reason, PMG does not take responsibility for any conclusions of the customer, for his personal planning or even decisions. PMG offers, as depicted in these Terms & Conditions, no tax or legal consultation. The client should, for this reason, already before availing of our services (i.e. establishing a company, before the opening of a bank account and/or relocation of residence or acquiring a passport, etc.), have closely consulted a tax or legal consultant. Furthermore, this is also valid for every service that the client avails of, either directly through PMG or through a contractual partner of PMG. Each client is requested to consult extensively with specialized legal or tax consultants in their home country. PMG expects for each phase, that the client complies/has complied with this request.

Generally and basically, PMG is according to the legal regulations, only liable if an accountable breach of duty is based on wilful intent or gross negligence or if PMG has, due to gross negligence, committed a significant contractual violation. Apart from that, liability or even a claim to compensation from PMG is excluded. The liability of PMG is also excluded, should the client not accord to his reporting obligations or his informational duties or other than in these Terms & Conditions described circumstances lead to the contractual relationship between PMG and the client being terminated.

Generally, all complaints, whether justified or not, must firstly be reported by the client to PMG in writing (letter per registered mail) within seven working days after delivery or provision of a service. Otherwise, the claim of the client of compensation, adjustment or even replacement by PMG is void. Should changes have been made to the undertaken service, then the liability entitlement is cancelled. In the case of justified and timely complaints, the client has the right to adjustments or exchange of the service by PMG. At justified complaints, the defects are corrected within an applicable period, thereby, the contractual partner has to enable all required measures for the evaluation and correction of the defect. PMG is entitled to reject the service if this is impossible or would be connected to a disproportionately great effort.

A claimed damage / a claim of the client towards PMG concerning compensation claims must always be proven beyond reasonable doubt by the client in court. In the case of a judicially doubtlessly proven and justified compensation claim towards PMG, already now it is bindingly agreed upon between PMG and the client: has an obligatory erroneous behaviour by PMG been proven in court, then PMG is liable to a maximum amount of 1,000.00 Euro, independent of the size of the determined damage. Compensation claims expire according to the legal regulations, however, at the latest with the expiry of one year after the execution of the non-contractual service. Categorically, a reversal of the burden of proof at the expense of PMG is excluded.

(12) Rights of retention

For all claims of PMG, that arise from the contractual relationship between the client and PMG, the client categorically is liable with his total wealth. PMG is towards the client, in the case of open claims, basically also entitled to withhold all services, is entitled to use its right of termination due to important reasons, to reclaim already provided services, to withhold documents and written papers that are stored at PMG (also in digitalised form etc.), to apply for bankruptcy of the respective established company of the client, to delete the company in the register at the expense of the client, or even to claim the company. The right of a legal complaint against the client due to non-payment remains in any case, as well as the possibility of PMG of obtaining an international default summons against the client. PMG expressively retains the right to judicial steps against the client, as well as the right to compensation.

(13) Choice of law and place of jurisdiction

The laws of the United Arab Emirates, Ras Al Khaimah Emirate, apply to the contractual relationship between PMG and the client. The place of jurisdiction for all disputes arising from the contractual relationship between the client and PMG is the location of PMG.

(14) Final Declaration

Should single provisions of this contract be invalid or inexecutable or after the conclusion of the contract become ineffective or inexecutable: To replace the ineffective or inexecutable regulation, the effective and executable regulation shall come to bear, whose effects of economic targets are the closest to the intention of the contractual parties with respect to the ineffective or inexecutable regulation. The above regulations are valid in case that the contract shall prove to be incomplete.

United States persons (including U.S. citizens and residents) are subject to U.S. taxation on their worldwide income and may be subject to tax and other filing obligations with respect to their U.S. and non-U.S. accounts – including, for example, Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts (“FBAR”). U.S. persons should consult a tax advisor for more information.

Version: AGB04.2016

1. DATA PROTECTION AT A GLANCE

GENERAL INFORMATION

The following notes give a simple overview of what happens to your personal information when you visit our website. Personal data is all data that can be used to personally identify you. Detailed information regarding data protection can be found in our Privacy Policy, which follows below.

Data Collection on our Website

Who is responsible for the data collection on this website?

The data processing on this website is carried out by the website operator, whose contact details may be found in the Legal Notice of this website.

How do we collect your data?

On the one hand, your data will be collected if you share personal information with us. For example, this may be the data which you enter into a contact form.

Other data is collected automatically by our IT systems when you visit this website. These are mostly technical data (for example, the internet browser, operating system and time of the page request). The collection of this data happens automatically as soon as you enter our website.

What do we use your data for?

Part of the data is collected to ensure that the website is kept in good working order. Other data can be used to analyse your user behaviour.

What rights do you have regarding your data?

You have the right to obtain free information about the origin, recipient and purpose of your stored personal data at any time. You also have the right to request the correction, blocking or deletion of this data. For this purpose, and in case you have further questions about data protection, you can contact us at the address given in the Legal Notice at any time. Furthermore, you have a right to appeal to the competent regulatory body.

2. General and Mandatory Information

Data Protection

The operators of these pages take the protection of your personal data very seriously. We treat your personal data confidentially and in accordance with the relevant data protection laws and this Privacy Policy.

If you use this website, various personal data will be collected. Personal information is information that makes it possible to personally identify you. This Privacy Policy explains which information we collect and we use it for. It also explains how and for what this data is collected.

Please note that there potential security gaps in data transmission over the internet (for example, communication via e-mail). Complete protection of the data from access by third parties is therefore not possible.

Note regarding the responsible person

The responsible person for the processing of data related to this website is:

Privacy Management Group^FZ-LLC
Al Hamra Industrial Zone
Ras Al Khaimah
United Arab Emirates
E-Mail: office@assetprotection24.com

The responsible person is the natural or legal person who, alone or in agreement with others, decides on the purposes and means of processing personal data (such as names, email addresses, etc.).

Withdrawing your Consent to Data Processing

Many data processing operations are only possible with your express consent. You can revoke your consent at any time. To do this, an informal message sent to us via email is sufficient. The legality of the data processing carried out until the time of consent withdrawal remains unaffected by the withdrawal.

SSL or TLS Encryption

For security reasons and to protect the transmission of confidential information, such as orders or requests which you send to us as the site operator, this site uses SSL or TLS encryption. You can detect an encrypted connection by examining the address line of the browser: when encrypted the “http://” changes to “https://” and the lock symbol appears in the browser line.

If SSL or TLS encryption is enabled, the data you submit to us cannot be seen by third parties.

Encrypted Payments on this Website

If, after the conclusion of a fee-based contract, there is an obligation to provide us with your payment details (for example, the account number for direct debit authorisation), this data will be required for payment processing.

Payment transactions via the common means of payment (Visa / MasterCard, direct debit) are made exclusively via an encrypted SSL or TLS connection. You can detect an encrypted connection by examining the address line of the browser: when encrypted the “http://” changes to “https://” and the lock symbol appears in the browser line.

When SSL or TLS encryption is enabled, the payment details that you submit to us cannot be seen by third parties.

3. Data Protection Officer

Statutory Data Protection Officer

We have appointed a data protection officer for our company.

Yiannis Papapetrou
61-63 Lord-Byron-Street, 5th Floor
6023 Larnaca, Cyprus
Telefon: +357 240 204 45
E-Mail: yp@eu-ibc.com

4. Data Collection on our Website

Cookies

The internet pages partly use so-called cookies. Cookies do not harm your computer and do not contain viruses. Cookies serve to make our offer more user-friendly, effective and secure. Cookies are small text files, which are stored on your computer and saved by your browser.

Most of the cookies we use are so-called “session cookies”. They are automatically deleted after your visit. Other cookies remain stored on your device until you delete them. These cookies allow us to recognise your browser the next time you visit.

You can set your browser so that you are informed about the setting of cookies and allow cookies only in individual cases, block cookies only in certain situations or in general, and activate the automatic deletion of cookies when closing the browser. Disabling cookies may limit the functionality of this website.

Cookies which are necessary to carry out the electronic communication process or to provide certain functions that you wish to use (for example, the shopping cart function) are placed on the basis of art. 6 para. 1 lit. f GDPR. The website operator has a legitimate interest in the placing of cookies which serve to ensure the optimal provision of services, free of all technical errors. With regard to other cookies (for example, cookies for analysing your surfing behavior), these will be treated separately in this Privacy Policy.

Server Log Files

The provider of the pages automatically collects and stores information in so-called server log files, which your browser automatically transmits to us. These are:

Browser type and browser version
Operating System in use
Referrer URL
Host name of the accessing computer
Time of the server request
IP address

The data will not be merged with data from other sources.

The basis for data processing is art. 6 para. 1 lit. b GDPR, which allows the processing of data in order to fulfill a contractual obligations or pre-contractual measures.

Google Analytics

Our organisation analyses the activities on our website through Google Analytics and
the collected data is used for the optimisation of our site as well as advertising
measures.

Google Analytics is a web analytics service, operated and provided by Google Inc.
(1600 Amphitheatre Parkway, Mountain View, CA 94043, United States), who
process the collected data on our behalf and are contractually bound to ensure the
confidential treatment of the data.

The following data will be collected during a visit to our website:

Pages accessed
Location (country and city – approximate location)
Data on orders
Site activities such as clicks, scrolls and length of visit
Information such as browser used, internet provider, display resolution as
well as other technical data
IP-address, although only in abbreviated form (no direct assignment)
The origin of your visit, for example which website was used to reach our site

We then send the collected data for analysis to a Google server in the United States where Google conforms to the regulations of the “EU-US Privacy Shield”.

The cookies collected from your web browser are stored with Google Analytics for 2 years (from your last visit) and should you visit our website again you will be
recognised through the use of a randomly generated user ID, which is contained in the cookies.

Through the use of these cookies and the user ID it is possible to establish a user profile, although any user specific data will be automatically deleted after 14 months
with general data being permanently stored in aggregrated form.

Should you be in disagreement with the collection and use of your data, you can deactivate this process through the one-time installation of Google Analytics Opt-out Browser Add-on.

Use of Google Remarketing:

In addition to Google Analytics we also use the remarketing function provided by Google. This function allows us to personalise advertising on other websites, based
on the interests shown through your activities on our pages. You can find additional information on Google Advertising Privacy and Terms
and you can prevent personalised advertising through the installation of these Browser-Plugins.

Contact Form

When you send us inquiries via the contact form, the information you provided in the form, including the contact details you indicated there, will be stored in order to process the request and in case of follow-up questions. We will not share this information without your consent.

The processing of the data entered into the contact form therefore follows exclusively based on your consent (art. 6 (1) lit. GDPR). You can revoke this consent at any time. An informal message sent to us via email is sufficient. The legality of the data processing operations carried out until the time of the withdrawal of consent remains unaffected by the withdrawal.

The information you provide in the contact form will remain with us until you ask us to delete it, revoke your consent for us to store it, or until the time that the purpose for data storage expires (for example, when your request has been processed). Mandatory legal provisions – specifically storage periods – remain unaffected.

5. Newsletter

Newsletter Data

If you would like to receive the newsletter offered on the website, we need an email address from you, as well as information that allows us to verify that you are the owner of the specified email address and that you agree to receive the newsletter. Further data shall only be collected on a voluntary basis, if at all. We use this data exclusively for the transmission of the requested information and do not pass it on to third parties.

The processing of the data entered into the newsletter registration form takes place exclusively on the basis of your consent (art. 6 (1) lit. GDPR). The consent to the storage of the data and the email address, as well as their use for sending the newsletter can be revoked at any time, via the “unsubscribe” link in the newsletter. The legality of the already completed data processing operations remains unaffected by the withdrawal of consent.

The data deposited with us for the purpose of receiving the newsletter will be stored with us until such a time that you unsubscribe from the newsletter and will be deleted once you unsubscribe from the newsletter. Data which has been saved by us for other purposes (for example, email addresses for the members-only area) remains unaffected.

MailChimp

This website uses the services of MailChimp in order to send newsletters. The provider is the Rocket Science Group LLC, 675 Ponce De Leon Ave. NE, Suite 5000, Atlanta, GA 30308, USA.

MailChimp is a service with which the dispatch of newsletters can be organised and analysed. When you enter data for the purpose of newsletter subscription (for example, an email address) this will be stored on MailChimp’s servers in the United States.

MailChimp is certified under the “EU-US Privacy Shield”. The “Privacy Shield” is an agreement between the European Union (EU) and the US to ensure compliance with European privacy standards in the United States.

With the help of MailChimp we can analyse our newsletter campaigns. When you open an email sent by MailChimp, a file included in the email (a so-called web beacon) connects to MailChimp’s servers in the United States. Through this it can be determined if a newsletter message has been opened and which links have been clicked on. In addition, technical information is collected (for example, time of retrieval, IP address, browser type and operating system). This information cannot be assigned to the respective newsletter recipient. It is used exclusively for the statistical analysis of newsletter campaigns. The results of these analyses can be used to better tailor future newsletter to the interests of the recipients.

If you do not want to subject your data to analysis by MailChimp, you must unsubscribe from the newsletter. To do this, we provide a corresponding link in each newsletter message. Furthermore, you can directly unsubscribe from the newsletter on the website.

Data processing is based on your consent (article 6 (1) (a) GDPR). You can revoke this consent at any time by unsubscribing from the newsletter. The legality of the already completed data processing operations remains unaffected by the withdrawal of consent.

The data deposited with us for the purpose of receiving the newsletter will be stored with us until such a time that you unsubscribe from the newsletter and will be deleted from both our servers and MailChimp’s servers once you unsubscribe from the newsletter. Data which has been saved by us for other purposes (for example, email addresses for the members-only area) remains unaffected.

For more details, see MailChimp’s Privacy Policy at: https://mailchimp.com/legal/terms/.

6. Plugins and Tools

YouTube

Our website uses plugins from the Google-powered site “YouTube”. The site operator is YouTube, LLC, 901 Cherry Ave., San Bruno, CA 94066, USA.

When you visit one of our YouTube plugin-enabled sites, you will be connected to YouTube’s servers. As a result, the YouTube servers are informed about which of our pages you’ve visited.

If you are logged into your YouTube account, this will allow YouTube to link your browsing behavior directly with your personal profile. You can prevent this by logging out of your YouTube account.

The use of YouTube is in the interest of an attractive presentation of our online offers. This constitutes a legitimate interest within the meaning of art. 6 para. 1 lit. f GDPR.

For more information about the processing of user data, please refer to the YouTube Privacy Policy at: https://www.google.en/intl/en/policies/privacy.

Google Maps

This site uses the mapping service Google Maps via an API. The provider is Google Inc., 1600 Amphitheatre Parkway, Mountain View, CA 94043, USA.

To use the features of Google Maps, it is necessary to save your IP address. This information is usually transmitted to and stored by Google on servers in the United States. The provider of this site has no influence on the transmission of this data.

The use of Google Maps is in the interest of an attractive presentation of our online offers and to make it easy to locate the places we have indicated on the website. This constitutes a legitimate interest within the meaning of art. 6 para. 1 lit. f GDPR.

For more information on the processing of user data, please refer to Google’s Privacy Policy: https://www.google.en/intl/en/policies/privacy.