Advantages of registering a BVI company
BVI Company Registration Conditions/Process/Information
name
The company name must end with “Limited”, such as: LIMITED, CORPORATION, INCORPORATED or abbreviations. The company name cannot end with “Trust Company”, “Bank” or other words that are considered to have similar meanings, unless these companies have obtained corresponding licenses in the British Virgin Islands (BVI).
director
One or more directors, who may be legal entities or natural persons of any nationality.
Registered capital
The standard registered capital of a BVI company is US$50,000 (capital verification is not required), divided into 50,000 shares, each worth US$1. If the capital exceeds US$50,000, the government will charge a stamp duty of US$1,350.
address
The company’s registered address must be in the British Virgin Islands.
Board Meeting
The directors may meet in any country or attend such meetings by proxy.
Company seal
A British Virgin Islands company must have its own company seal, and the sample of the company seal must be reported to the Companies Registry.
Check whether the company name you want to register is available for registration, usually within 1-2 working days
Signing of power of attorney and contract
The customer provides a series of documents and information required for company registration
Express the company documents after registration to the customer
Registration is completed. Customers receive scanned copies of the documents after successful registration.
Registration starts in about 8 months and is completed in 8 working days
Certificate of Registration
Articles of Association
Agent Certificate
Directors’ meeting minutes
Director’s Letter of Attorney
Shareholder register
Letter of consent to serve as director or shareholder
Register of Directors
Stock
Company seal
File Box
Company registration follow-up services
Annual inspection/license renewal
Accounting and tax filing
Company Changes
Bank account opening
Secretarial Services
Company deregistration
Advantages and Disadvantages of Registering a BVI Company
Profit
- BVI (British Virgin Islands) is a place with very stable political, economic and trade environment. It has good financial legal facilities and is convenient for the establishment and development of various financial institutions or foundations.
- The government protects the interests of shareholders and does not need to disclose the identity of the beneficiaries
- In order to encourage economic development and attract foreign investment, the local government allows one person to fully own a limited company.
- The government provides privacy protection for all enterprises, and the information of directors is kept absolutely confidential. With low tax rates, Island International Limited is subject to very few tax controls. Profits earned from overseas operations do not need to pay profits tax, achieving the purpose of reasonable tax avoidance.
- Companies on the island can open bank accounts anywhere in the world
- Simple follow-up services, strong confidentiality, tax exemption, stable political and economic environment, global financing and listing
Disadvantages
- Data is not public: The identity of registered company shareholders, director list, equity ratio, and income status are highly confidential and protected by law. The public cannot query them. The law prohibits the arbitrary disclosure of relevant company materials.
- Establishment time: The establishment time of a company will be 3 working days longer than that of a Hong Kong company.
- Cost: BVI fees are higher than Hong Kong companies, and annual review fees are also higher
- Company termination: If the annual fee is not paid for two consecutive years, the company will be automatically deregistered and all assets will become the property of the government.
FAQs on BVI Company Registration
2. Not be an agent of other companies in the local area and provide a registered address in BVI
3. Not be engaged in illegal activities
The British Virgin Islands (BVI) has an open economy, driven primarily by the financial sector, and the tax code has a strong regulatory framework that is very conducive to doing business in the
region .
As a result, offshore companies in the British Virgin Islands do not need to pay income tax. There is also no taxable capital gains tax, and there is no gift tax, inheritance tax, sales tax or
value-added tax .