Mirasol's legal structure

All,

I do not longer have my membership form and my Q&A document for Mirasol. So could someone help me out please?
I am wondering what the exact legal structure of Mirasol is? Is it a trust and is so can someone confirm if it is an irrevocable discretionary trust?

thanks a lot!

Hi,

Mirasol is a Hybrid company based in Turks & Caicos. For the documents search this forum

rclvb wrote:

Hi,

Mirasol is a Hybrid company based in Turks & Caicos. For the documents search this forum

Mirasol Holdings Ltd is a hybrid company that is, registered in the Turks & Caicos
Islands under company no E.33294.

What is a hybrid company?

The term “hybrid company” is used to describe a company, which is limited both by
shares and by guarantee and is made up of two classes of members: -

Shareholders and Guarantee Members

The directors elect Guarantee Members into membership of the company on
condition that the member undertakes to contribute to the debts of the company, in
the event of it being wound up but this will be up to a specified maximum amount
that is only a nominal amount.

As such a Guarantee Member holds a contingent liability, which is an obligation.
Guarantee Members have no rights to vote but all the rights to participate in the
income and capital of the company (i.e. none of the profits will go to shareholders).
Control of the company rests with the shareholders but all benefits flow to the
Guarantee Members.