Main Characteristics and the basic rules of Company registration in BVI
British Virgin Islands is currently one of the richest places in the world. This is mainly possible due to the excellently robust offshore environment in the place. The island in the Atlantic has an extremely small population, but the tax free jurisdiction and the great amount of wealth which is stored in the bank accounts of trusts and corporations opens up chances for international business excellently. If you are a businessman and looking to expand business overseas, investing in the British Virgin Islands is an excellent option and of course, don’t forget to opt for our BVI Offshore Company Formation service.
Our BVI Offshore Company Formation service is designed to help investors who want to expand their business on British Virgin Islands.
It is interesting to note that in British Virgin Islands, company formation is a large business. It contributes to almost 51.8% of the annual revenue of the government, which is obtained from the license fees which are paid by the offshore companies. Many companies from Latin America and Asia have opened business in the BVI and running successfully.
BVI company formation advantages
There are many benefits of company formation in the British Virgin Islands. Some of them are:
The process of BVI Offshore Company Formation is also quite simple. However, you will need some kind of assistance for business expansion in BVI. BRIS group helps in taking care of all the legal and other formalities related to the company formation process in BVI. The process of business expansion in BVI is simplified with our expertise. Call us for assistance right away.
|BVI Company Formation||Financial Advantages|
|Double Taxation Treaty Access:||No taxation treaty access|
|BVI Tax Information Exchange Agreements:||Yes, TIEAs signed by BVI authority.|
|Account Filing Requirements:||No accounting or reporting requirements|
|Annual Return Filing Requirements:||No annual return/ reporting requirements|
|Audit Requirements:||No audit required.|
|BVI Company Formation||Registration Requirements|
|Classes of Share Available for BVI company formation:||Shares with or without voting rights, redeemable shares, registered shares, preference shares, shares of no par value.|
|Minimum paid up share capital:||US$1|
|Bearer Shares:||es, Allowed (subject to anti-money laundering and due diligence regulations).|
|Registered Office Required:||Yes, required and must be maintained in BVI.|
|Registered agent:||Yes, required|
|Shareholders:||Minimum number is one.|
|Directors:||Minimum number is one. Can be any nationality and need not be resident in BVI. Corporate directors are allowed.|
|Company Seal:||Yes, company must have a company seal.|
|Your Company language:||English|
|Name of your Company must be ended:||“Corporation”/ Corp., “Limited”/Ltd, “Incorporated”/Inc.,, “Societe Anonyme”/S.A., “Sociedad Anonima”|
|Documents required for BVI company formation:||A certified copy of your passport or ID and proof of your residential address dated less than 3 months.|
|BVI Company Formation||Restrictions|
|For BVI company formation you cannot use words in your company names without justification:||“Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc.|
|Restrictions on Trading:||None|
|Not permitted without a licence:||Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision.|
|BVI Company Formation||Confidentiality and Security|
|Publicly Accessible Records:||No public register of company officers (Directors, Shareholders, Secretary)|
|Possibility to use Nominee Shareholders and Nominee Directors for BVI Company Formation:||Yes, Allowed|
|Disclosure of Beneficial Ownership to Authorities:||No|
|Meetings of Directors and Shareholders to be held:||Anywhere|
|What is the stability to register BVI Company (IBC)||Secure jurisdiction and distinguished reputation.|
|Capital city:||Road Town|
|Region:||The British Virgin Islands (BVI), officially the Virgin Islands, is a British overseas territory located in the Caribbean to the east of Puerto Rico.|
|Political System:||Political Democracy|
|Governing corporate legislation:||The BVI Business Companies Act, 2004 (“the Act”) as amended|
|Type of Law:||Common|
|Type of company:||International Business Company (IBC)|
|Currency:||US Dollar (USD)|
|Language of Legislation and Corporate Documents:||English.|
|Time Zone:||GMT-4 .|
This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.