Worldwide Incorporation Services specializes in BVI company formation and opening bank accounts.
BVI – General Information
The British Virgin Islands, or BVI for short, is a group of fifty islands in the Caribbean forming a British Overseas Territory. The main islands within this group are called Tortola, Virgin Gorda, Anegada and Jost Van Dyke. They have been autonomous from Britain since 1967. While the official name is the Virgin Islands, they are usually called the British Virgin Islands to separate them from the nearby American Virgin Islands.
Advantages of BVI Company Formation
Forming a company in the British Virgin Islands means setting up a so-called BVI Business Company or BVI BC. These are the most popular form of offshore companies in the world. They are available to residents of any country in the world and can be formed as a continuation of another company in another part of the world. There are many benefits to a BVI BC:
- 0% corporate tax
- 0% capital gains tax
- 0% profit tax
- 0% gift tax
- 0% sales tax / Value Added Tax
- 0% inheritance tax
- No stamp duty except for land transactions in the British Virgin Islands itself
- No restrictions on doing business anywhere in the world
- Ability to transfer and repatriate money without fees
- No currency exchange fees or limitations
- A minimum of one shareholder is required for a BVI company formation
- A minimum of one director is required for a BVI company formation
- Corporate directors and shareholders are permitted
- No need to publicise company directors, officers, owners or shareholders
BVI Company Formation – Legislation
Principal Corporate Legislation
The BVI Business Companies Act, 2004 (“the Act”) as amended.
Type of Law
Language of Legislation and Corporate Documents
Type of Company for International Trade, Investment & Tax Planning
BVI BC (Business Company).
There is no concept of authorised share capital in the Act. Standard authorised share capital is US$50,000. Minimum paid up share capital is US$1.
Classes of Share Available
Registered shares, shares of no par value, bearer shares, preference shares, redeemable shares and shares with or without voting rights. Bearer shares will be subject to anti-money laundering and due diligence obligations and a company which is authorised to issue bearer shares pays higher incorporation and annual fees.
Restrictions on Trading
A BVI Offshore Company cannot trade within the British Virgin Islands or own real estate there. Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.
Registered Agent Required
Each BVI Company must have a Licenced Registered Agent.
Registered Office Required
Each BVI Company must have a Registered Office, provided by a Licenced Registered Agent.
A BVI Company requires a minimum of one director. Director can be of any nationality and need not be resident in the British Virgin Islands. Corporate directors are permitted.
A BVI Company requires a minimum of one shareholder.
Publicly Accessible Records
Nominee Shareholders and Nominee Directors
Location of Meetings of Directors and Shareholders
Personal Presence Required
Double Taxation Treaty Access
Requirements to File Accounts
Requirement to File Annual Return
Time required for BVI Company Formation
BVI Company Formation – Name of a Company
Language of Name
Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust”, “Trustee” etc. will require justification.
Name of a BVI Company
The words “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”, “Sociedad Anonima” or Ltd, Corp., Inc., S.A. must be part of the name.
BVI Company Formation Prices
BVI Company Formation Package Includes:
- BVI Company Name Check
- Initial Business Approval
- Preparation of Application Documents
- Company Registration Fee
- Registered Office Address for 1 year
- Registered Agent Services for 1 year
- Government filing fee
- Certificate of Incorporation
- Memorandum & Articles of Association
- Minutes of first meeting appointing the director(s)
- Share Certificate(s)
- Register of shareholders
- Register of directors
Starting at: $690
BVI Shelf Companies
World’s Largest Selection of BVI Shelf Companies with Prestigious Name.
Why Choose Worldwide Incorporation Services?
BVI Company – Office Addresses
Services related BVI Company Formation | BVI Company
Worldwide Incorporation Services provides the following services related BVI Company Formation:
- BVI Company Formation
- Registered Office and Agent Services
- Secretarial Services
- Nominee Shareholder/Nominee Director
- Opening of Bank Accounts
- Full Administration Services
- Mailing Address
- Trademark Registration
- Yacht Registration
Worldwide Incorporation Services | BVI Company | BVI Company Formation
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