BVI Offshore Company Registration

BVI offshore company registration is suitable for a broad range of legitimate business purposes. If the company's business plan is to be presented to third parties in the world (such as banks) then additional certification is required.

BVI IBCs must keep directors' names on their list however, the list is not available to the public. Our agents specialize in forming companies and provide more information.

No Corporate Income Tax

One of the major benefits of the BVI offshore company registration is that there aren't taxes imposed by the government on the income generated by its business activities. This is among the many reasons why investors choose to invest in an offshore company in the British Virgin Islands offshore company Virgin Islands. There are other benefits that make investing in the BVI offshore company BVI offshore business a smart choice, including the ability to avoid double taxation, lower costs and a legal framework that is international for business.

Offshore companies registered in the BVI are exempt from local business taxes tax, stamp duty and estate tax. They are not required to file any accounts or undergo an audit by a licensed auditor. This makes it an attractive alternative for businesses looking to save money on reporting and accounting obligations.

A BVI offshore company can provide privacy protection as another key benefit. The Registrar of Companies does not reveal the identities of company directors and shareholders to the public, making it a safe place for anyone who wants to safeguard their privacy and privacy. This is one of the most important factors that draws many investors to the BVI offshore company registration, especially as it is now commonplace for people to operate multiple businesses within one entity.

The information is not publically accessible, even though the Registrar of Companies requires that directors submit their personal information. Only the Registrar of Companies can access the information, and it will only be disclosed to law enforcement agencies upon request. Nominee services can be used to safeguard directors' identities as well as shareholders. This is a procedure where an uninvolved third party takes action on behalf of the actual owner of the business.

The Registrar of Companies does not require that a BVI company state the financial value of its capital authorized and there isn't a need to file any financial reports or accounts. The Registrar of Companies also does not require that companies hire auditors or conduct an audit that is statutory.

The BVI is also popular because it offers a broad range of exclusive banking services. These services include private banking, asset management and investment fund management. The British Virgin Islands has developed a reputation as a premier business center in the world, and the laws that govern the territory are flexible enough to accommodate businesses from around the globe.

No Disclosure of Directors of the Company or Shareholders

The BVI places a great deal of emphasis on privacy for its offshore businesses. The names of directors and shareholders of the company are not disclosed when registering. This makes it a perfect option for foreign investors who wish to keep their financial information private. There are no minimum capital requirements, and the IBC is free from income and withholding tax.

International Business Corporations (IBC) are the most commonly used type of company used offshore. The legal entity can be owned by foreigners and there are not restrictions on the nationality of the shareholders of directors. Additionally, IBCs are not required to prepare and submit annual financial statements or public reports.

You must select a business name and submit it to the Registrar of Companies in order to create an IBC on the BVI. The Registrar will ensure that the name isn't already in use and will also provide a list of words that are forbidden to be used in the company name. After the name has been approved, you'll be required to choose an agent to represent the company during the registration process. The local registered agent will manage all paperwork, communicate with official government agencies and register the company with the Registrar. The company must also open a corporate account and this is possible to do either prior to or after registration.

Once the company is incorporated, you must pay the fee for a government license which is payable annually. The fee for a license for price an ordinary IBC is USD 450 with the share capital of 50,000. This is a reasonable price for countries that do not have any taxes such as withholding taxes, capital gains taxes.

The BVI also provides a distinct type of offshore company called the regulated purpose corporation. These legal entities are created with specific goals, and the Memorandum will clearly define what that purpose is. This type of company is suitable to facilitate structured financing transactions. Our experts who specialize in BVI incorporation will be able to provide more details about this specific kind of company.

No Accounting Obligations

In the offshore services industry, BVI is one of the oldest jurisdictions. Hundreds of thousands of international businesses were registered in the islands as of 1984, when they became popular after the BVI International Business Company Act was enacted. The act became a standard for similar laws in many other offshore jurisdictions around the world.

The main benefit the law brought to investors is the fact that no corporate income tax is imposed on business companies in BVI. This, along with other provisions of the law has resulted in BVI offshore companies a popular investment vehicle. BVI also doesn't reveal to anyone the identities of directors and shareholders of the offshore company. The only information that is publically available is the name of the offshore company british virgin islands company the registered office, its name and the authorized capital.

Investors should be aware that law doesn't oblige offshore companies to submit annual financial reports or public or government documents. It does, however, stipulate that every company must keep an inventory of documents at its registered agent. These documents and records are kept confidential unless a business decides to publish them. In that case, the company must provide an explanation for why it is publishing them.

If a business decides it is going to publish its financial statements they must prepare them according to International Financial Reporting Standards / IFRS. In these situations, a company could be fined for not complying with the law.

The registered agent must be able to obtain proof of identity from every person who are listed in the register of beneficial owners. The register is not accessible to the public. Access to it is only allowed in compliance with the BVI's agreement with the UK for the exchange of information in order to combat the financing of terrorism and money laundering.

After having read the above information, it's obvious that BVI provides the most secure privacy and security protections available anywhere in the World. Contact us if you would like to learn more about this jurisdiction. We can also connect you with an expert to answer any questions that you might have about setting up a British Virgin Islands offshore company.

No publically available company documents

One of the primary factors that make BVI one of the most sought-after jurisdictions for offshore registration of companies is the privacy. Companies registered in the BVI do not have to reveal the names of company directors or shareholders in public registries, and the privacy of the founders/shareholders is a priority for the local authorities.

BVI was one of the first offshore jurisdictions that managed to establish a legal framework for these types of companies and their law is currently copied by other tax havens. The main law that governs them is the BVI Business Companies Act of 2004. It is very flexible and focuses on minimising reporting obligations. It requires only annual reports and does not require financial statements, and allows for a one-man company with only one director and shareholder.

The Act also lays emphasis on the protection of the privacy of investors and ensures that their personal details are not publically displayed in registry sites. Foreigners are able to own companies that are registered in BVI and there is no limit on what they can do.

Investors should be aware that as of April 2016, the BVI has introduced the BOSS System - the Beneficial Ownership Secure Search System, which is a register of beneficial owners. This information is not available to the general public, and only authorized individuals are able to access it. to stop money laundering, terrorism financing, and price other criminal activities).

If you need to present your company's documents to third parties outside of the BVI - for example to open bank accounts or purchase real estate, or to register a branch or joint venture with a foreign company - you will be required to have them Apostille-certified. As part of our BVI company formation service, we will help with this for you. The cost of Apostille Certification is extra, but well worth it. Contact us for more details.