Jurisdictions >> BVI Offshore Companies >> BVI Company Registration
BVI Company. BVI Company Formation
Worldwide Incorporation Services specializes in BVI company formation and opening bank accounts.
Ready-Made BVI Companies
This is a list of BVI ready-made companies available as of today.
British Virgin Islands – General Information
Location: Caribbean, between the Caribbean Sea and the North Atlantic Ocean, east of Puerto Rico.
Area: total: 151 sq km, land: 151 sq km, water: 0 sq km, comprised of 16 inhabited and more than 20 uninhabited islands; includes the islands of Tortola, Anegada, Virgin Gorda, Jost van Dyke.
Natural resources: NEGL; pleasant climate, beaches foster tourism.
Population: 35,015 (July 2017 est.).
Capital: Road Town 15,000 (2018).
Time Zone: UTC−4.
Language: English (official).
Government type: Parliamentary democracy (House of Assembly); self-governing overseas territory of the UK.
Legal system: English common law.
International organization participation: Caricom (associate), CDB, Interpol (subbureau), IOC, OECS, UNESCO (associate), UPU.
Economy: The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism, which generates an estimated 45% of the national income. Because of traditionally close links with the US Virgin Islands, the British Virgin Islands has used the US dollar as its currency since 1959. Livestock raising is the most important agricultural activity; poor soils limit the islands’ ability to meet domestic food requirements.
In the mid-1980s, the government began offering offshore registration to companies wishing to incorporate in the islands, and incorporation fees now generate substantial revenues. The adoption of a comprehensive insurance law in late 1994, which provides a blanket of confidentiality with regulated statutory gateways for investigation of criminal offenses, made the BVI even more attractive to international business.
Currency: US dollar.
Overview
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
Common.
Language of Legislation and Corporate Documents
English.
Type of Company for International Trade, Investment & Tax Planning
BVI BC (Business Company).
Key Facts
Share Capital
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.
Bearer Shares
Permitted.
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.
Directors
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.
Shareholders
A BVI Company requires a minimum of one shareholder.
Publicly Accessible Records
No.
Nominee Shareholders and Nominee Directors
Allowed.
Location of Meetings of Directors and Shareholders
Anywhere.
Personal Presence Required
No.
Taxation
Nil.
Double Taxation Treaty Access
None.
Requirements to File Accounts
None.
Requirement to File Annual Return
None.
Audit Requirements
None.
Currency
US Dollar.
Exchange Control
None.
Time required for BVI Company Formation
Two days.
BVI Company Formation – Name of a Company
Language of Name
English.
Restricted Words
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 Registration – International Packages
Packages
COMPARE PACKAGE FEATURES
Corporate Consultancy
Name Check
Initial Approval
Preparation of Application Documents
Drafting and Filing of M&A with the Registry
Company Registration
Incorporation Service Fee
Registered Office Address for 1 Year
Registered Agent’s Service Fee for 1 Year
Secretarial Services for 1 Year
File the Director's data to the British Virgin Islands Registry of Companies
Certificate of Incorporation
Appointment of First Director (AFD)
Consent to Act as Director
Memorandum of Association
Articles of Association
Apostilled Set for International Use (duplicate COI, original AFD, copy M&A)
Register of Directors & Officers
Registers of Shareholders
Share Certificate
Resolution Issuing Share Certificate
Rubber Stamp
Daily Update Regarding The Full Process
Provision of a Corporate or Individual Director for 1 Year
Power of Attorney with Apostille
Resolution issuing Power of Attorney
Confidential Shareholder Service for 1 Year
Declaration of Trust
* Government Licence Fee USD 450 is not included (payable to the Registrar of Companies every year)
Submit an enquiry or request a confidential callback or chat with us.
- We’ve been helping business owners since 1998
- Incorporating your business is our focus
- We make a complex process fast and easy
- We work closely with BVI Companies Registry to guarantee our service
BVI Company Formation – Office Addresses
Services related BVI Company Formation | BVI Company Registration
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
Interested in BVI Company Formation?
Worldwide Incorporation Services | BVI Company Formation / Registration
Submit an enquiry or request a confidential callback or chat with us.
Tags: bvi company formation | registration
