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THE MAIN CHARACTERISTICS OF BVI COMPANY

GENERAL
Type of entity
IBC
Type of law
Common
Shelf company availability
Yes
Our time to establish a new company
2 days
Government fees for a share capital not exceeding
USD 350
Government fees for a share capital exceeding
USD 1,100
Corporate Taxation
Nil
Double taxation treaty access
Yes
SHARE CAPITAL OR EQUIVALENT
Standard currency/Permitted currencies
USD/Any
Usual authorized capital
USD 50,000
Minimum paid up
USD 1
Usual authorised
USD 1 000
DIRECTORS
Minimum number
One
Local required
No
Location of meetings
Anywhere
Corporate Directors Permitted
Yes
Publicly accessible records
No
SHAREHOLDERS
Minimum number
One
Publicly accessible records
No
COMPANY SECRETARY
Required
Optional
Local or qualified
No
ACCOUNTS
Requirement to prepare
Yes
Audit requirements
No
Requirement to file accounts
No
Publicly accessible accounts
No
OTHER
Requirement to file annual return
No
Change in domicile permitted
Yes

INTEREST OF THE JURISDICTION

Advantages of a company in BVI

  • No corporate taxation – 0%.
  • No requirement to file accounts.
  • No publicly accessible records for Directors and Shareholders.
  • The flexibility of the legalization allows a company incorporated in the British Virgin Islands to operate with the absolute minimum of fuss.

Possible disadvantages of a company in BVI

  • The lack of public registers may hinder proving of ownership.

PRESENTATION OF JURISDICTION

The British Virgin Islands (BVI) are one of the oldest and the highest regarded offshore financial centers in the world. The BVI are globally recognized as the benchmark that other offshore jurisdictions strive to imitate. Most of the companies in BVI have as their preferred company structure the International Business Company (IBC) form (International Business Companies Act, 2004), the great popularity if this structure in BVI comes from its across-the-board beneficial features:

  • Flexibility;
  • Tax exemption status;
  • Ease of operation;
  • Widely accepted by the international financial community.

Enable offshore business to be managed in a tax-free environment.

HOW TO
PROCEED

To incorporate or purchase a company the following documentation should be provided:

01

A completed application form signed by the company or by the representative

03

A personal bill, which is less than 3 months old from the date of the application

02

Copy of valid passport

04

Payment of our fees

Note: additional documents may be required depending on the certain offshore bank.

Set-up time: From the moment, we are in possession of all required documents:

3 days

Incorporation of
a company or purchase
of an existing company

15 days

Delivery of the original
company documents

3 weeks

Offshore Bank: offshore
bank account opening