To buy Offshore company in BVI is not only simple, but also profitable. Its undeniable advantages are low cost registration and low cost of supporting. In such an offshore company you can use registered shares or bearer shares, the total tax exemption and confidentiality. Offshore in BVI – The UK government, to whose jurisdiction includes the British Virgin Islands, offshore business in BVI has a lot of support, because it is a good source of replenishment of the state due to its high prevalence in the region. If you decide to open an offshore account in the area, you do not need to pay royalties, dividends or interest, will only need to pay a fixed annual fee.
The registration of offshore companies spent a bit of time, but it is enough to just one director and one shareholder, who are not required to be resident in the BVI. In this case, the director may be an individual or a legal entity, and the annual meeting of the Board of Directors may be held anywhere in the world. A particular advantage is the possibility of opening a corporate bank account without direct presence in the bank, and reduced requirements for the accounting and auditing.
According to a recent study, British Virgin Islands alias BVI is the father of all International Business Companies. The original IBC act was framed in 1984 in the BVI. It is a signed and carefully framed jurisdiction that defines how people can open and buy offshore companies in BVI! You will be astonished to note that the first ever IBC act was carefully framed to increase the total number of foreign investors in the nation. As the law witnessed a positive flow, it became one of the largest offshore incorporation jurisdictions around. If you want to buy an offshore in BVI here are few points to help you.
Do you know that BVI doesn’t comprise of any corporate taxes? This is one of the finest benefits in buying offshore companies in BVI. The only tax that can have an impact on your business would be Social Security Contribution that sums up to 4.5%. This tax is made on domestic salaries. Another tax that affects businesses would be the payroll tax that amounts between 2 and 6 percent. However, these taxes come into the picture only when you run a local business with local employees. If you have no local operations, you can save yourself from all these taxes.
Costs of offshore in BVI are usually greater than many other International Business Company jurisdictions. On the other hand, IBC jurisdictions are predominantly competitive. It is quite difficult to find BVI companies below a feel of 1000 USD. You should be prepared to spend anywhere between 1500 and 2000 USD. This is where you will have access to a reputable and high quality service provider. Additionally, you will have an annual renewal fee of 1200 USD.
Offshore companies in BVI are not expected to register for public records. The information remains with registered agents and the government doesn’t have to know about the shareholders or directors. Details about the firm are disclosed only through Tax Information Exchange Agreements alias TIEA. Meanwhile, it is quite interesting to note that BVI suffers a poor reputation. This can be attributed to its high profile and fewer advertisements. Also, most people steer away from BVI due to complicated banking routines. Luckily, offshore banking is not a tough or tacky venture. There are three amazing banks in BVI to help you with great offshore opportunities.