REGISTRATION OF COMPANY IN THE BRITISH VIRGIN ISLANDS
For many years, the British Virgin Islands or BVI, were considered a leading offshore jurisdiction in the field of international tax planning. BVI offers a modern offshore legislation, high confidentiality and a solid economy. BVI are separate legal entities used for a variety of purposes such as international trade, holding companies, asset protection and consulting services. The British Virgin Islands hold a strong position of competitive jurisdiction on par with other financial centres.
REGISTRATION OF COMPANY IN THE BRITISH VIRGIN ISLANDS – PRICES
Basic
- Company registration, including payment of fees
- Legal address
- Set of registration documents
- Registered agent
- Stamp of the company
Standard
- Company registration, including payment of fees
- Legal address
- Set of registration documents
- Registered agent
- Stamp of the company
- Apostille of documents
Premium
- Company registration, including payment of fees
- Legal address
- Set of registration documents
- Registered agent
- Stamp of the company
- Apostille of documents
- Nominee Director
- Nominee Shareholder
Premium+
- Company registration, including payment of fees
- Legal address
- Set of registration documents
- Registered agent
- Stamp of the company
- Apostille of documents
- Nominee Director
- Nominee Shareholder
- Bank account
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Company incorporation in the BVI is similar to other offshore jurisdictions. It requires corporate documents and at least one shareholder, a citizen of any country. The minimum authorized capital requirements are not specified. Typically, standard share capital is USD 50,000. Bearer shares are not permitted.
Since 2007, BVI corporations are not divided into resident and non-resident. Thus, they are not required to pay corporate or income tax. The BVI are also called the most popular offshore destination in the world. BVI offshore companies must have a local registered agent and a local office address.
Provided that the company does not operate at BVI, the company is not required to keep annual records and pay corporate taxes. To shorten the formation period, you can buy ready-made shelf BVI company. It takes only a few hours.
1. Buy a shelf offshore company or register a new one
Registration of a ready-made offshore company takes several hours, which is the main advantage. However, to incorporate a new company, requires more time but you can choose a corporate name. Ready-made shelf offshore companies in the BVI go with a certificate that states that the company is totally clean and clear of any business debts and liabilities.
Company formation doesn’t require presence of the founder.
2. Choose the name of the new offshore company
The name of the company in BVI must be unique. It is recommended that an IBC name will not include one of the following words: “Bank”, “Insurance Company”, “Trust”, “Royal”.
3. Collect supporting documents for company registration in the BVI
To register an offshore company, you must prepare and submit the following documents:
- Passport (scan copy)
- Proof of address (scan copy, confirming the place of residence, for example: stamp of registration, utility bill or a copy of a similar document)
4. Choose the corporate structure of the Virgin Islands offshore company
At this stage, you can choose to use the nominee service, or appoint directors and shareholders and determine authorised capital. The founders of the company may be either a physical person or a corporate body and of any nationality.
5. Offshore company formation in the BVI
The documents are submitted for registration in the British Virgin Islands business register. Company registration usually takes up to 2 weeks.
6. Apostilled set of incorporation documents of the offshore company
Registration documents can be apostilled. Apostille on documents is required in case the company’s documents will be used abroad, for example, to open a bank account, open a representative office of an offshore company, enter into an agreement with partners.
What you get
After opening the company, the registration documents are transferred to the client. The package includes:
- Certificate of Incorporation
- Memorandum and Articles of Association
- Minutes of the First Meeting
- Consent to act as a Director
- Resolution of issuing share certificate
- Share Certificate
- Registers of Directors and Shareholders
- Nominee Agreement*
- Resolution of issuing Power of Attorney*
- Power of Attorney*
- Declaration of Trust*
* Provided in case of using a nominee service
- International trade
- Asset management
- Principal company in agency schemes, for example using the Canadian or Scottish partnership as an agent
- Investment and deposits