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British Virgin Islands (BVI)

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Company registration in BVI in 2020

 

Starting a business in this country has the following advantages:

  • Developed and stable economy;
  • Favorable business environment;
  • No minimum capital requirements;
  • Regulation of confidentiality at the legislative level;
  • The director of the company may be a non-resident of the country.

Business registration in BVI – from 1900 €

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If you interested in registering a company in the Caribbean, pay attention to the BVI.

The British Virgin Islands (BVI) is a region where approximately 40% of all offshore companies operate. More than 5000 companies are registered here monthly. BVI is considered by other offshore countries as a guide, an example to follow.

The British Virgin Islands are very popular among those, who want to register an offshore company in the BVI, all thanks to their tax-free status, the ease of administration and a recognition in the international financial community.

One of the main advantages of BVI, is the desire of the country's government to improve its offshore jurisdiction, due to which a reform was carried out in 2006, as a result of which only residential companies with numerous of employed employees remained liable to pay taxes.

In 2005, BVI legislation was amended to remove differences between local companies (operating in the domestic market) and an offshore company.

Read also:
To open an enterprise in the BVI: a popularity of BVI lies in:
  • A US dollar is the official currency.
  • No problems with a currency conversion.
  • The official language is English.
  • The prestigious “classic” offshore country, which is famous for its political stability.
  • A country is under a protectorate of Great Britain.
  • A business environment is one of the most developed and efficient.
  • Thanks to numerous of offshore companies, a country's budget is constantly replenished, which is a net profit, that does not require additional investments. This fact favorably affects the economic, a political sphere of the country.
  • BVI is an independent country with a high standard of living.
  • The government has signed a double tax treaty with Japan, Switzerland.
  • A confidentiality is regulated by the law.
  • It is located about 60 miles from Puerto Rico.
To set up a commercial firm on the Virgin Islands. Features:
  • When registering an enterprise in the BVI, a name must not contain such words: Limited, Corporation, Incorporated, etc. It is forbidden to use words, indicating a connection with the local, a state, a national government.
  • To register a business on the Virgin Islands, only one person is required (a physical/legal). The information about shareholders is not publicly available.
  • A minimum capital is not established.
  • Deciding to set up a commercial enterprise in the BVI, remember, that the company must annually transfer to the BVI budget a fixed fee: with a statutory fund of up to 50,000 US dollars pay 350 US dollars, if the authorized capital of more than 50,000 US dollars pay 1100 US dollars.
  • Allowed using nominee services.
  • Corporate directors are allowed. There are no requirements for resident directors. The director can be a non-resident of this jurisdiction.
  • A trade name and the address of the director should be submitted to a specially created state register. The registry data is not published and is available only after a court decision of competent authorities.
  • The office space needs to be rented.
  • According to the law, it is not necessary to hire a secretary to open a BVI company.
  • Holding annual meetings is not necessary. All meetings can be held outside the BVI, using communication means.
  • The ability to use bearer shares. Their main drawback is that it is impossible to anonymously change the owner of the firm.
  • There are no requirements regarding a submission of annual reports, while the firm is obliged to maintain financial statements.
  • Those, who plan to open a firm on the Virgin Islands, recall, that failing to comply with BVI laws, the company is fined ($10,000 US).
  • Every year, the company is required to pay a fee for the extension. In case of non-payment, the firm is deleted from the register (after a year). Moreover, directors/shareholders are responsible for all debts.
  • The company registration period is 4-5 weeks.

Incorp + bank account

€3900

Company registration

Set of constituent documents

Legal address

A nominal service

Rated service

Delivery

Apostilled set of documents

Support in opening an account

Incorporation in BVI

€1900

Company registration

Set of constituent documents

Legal address

A nominal service

Rated service

Delivery

Apostilled set of documents

  • The information outlined in the article is actual at the time of its publication.

  • Please refer to our specialists for checking possible solutions for your business.

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