The British Virgin Islands (BVI) is a popular jurisdiction worth considering for offshore company formation due to its low taxation and annual compliance requirements, confidentiality and its ease of setup.
Unlike other jurisdictions, the BVI tried to stick to a reasonable compromise between the requirements of international authorities and the demands of end-users and registered agents. As a result, they enacted a new law: the BVI Business Companies Act 2004 (No. 16 of 2004) that regulates both offshore, and local companies. Now, BVI business companies are allowed to do business with BVI residents and acquire real estate in the BVI.
Company Setup Requirements for British Virgin Island
|Corporate Directors and Shareholders||Permitted|
|Local Secretary Required||No|
|Local Registered Office||Yes (included in our package)|
|Minimum Paid Up Capital||US$1 (Standard authorised capital – 50 shares of USD1.00 par value)|
|Annual Reporting or Auditing||Not Required|
|Local Tax on Foreign Income||Exempted|
The same person (both natural person and legal entity) can be the shareholder(s) and director(s) of the BVI entity. There is no residency or nationality requirement for the shareholders and directors.
There are also no requirements for annual returns, annual meetings, or audited accounts.
WHAT DOES OUR BVI INCORPORATION PACKAGE INCLUDE?
All companies are provided with a complete company kit, including share certificates, Memorandum and Articles of Association, statutory registers, a common seal and a company chop. In addition, we can assist you in obtaining Certificates of Good Standing and other certificates of corporate existence as well as relevant post incorporation services.
HOW TO START?
You may kick start the incorporation of your BVI entity by providing us with the desirous company name for a free company name search. Thereafter your exclusive Relationship Manager will guide you through every step of the way.
Engage Our Service
We provide professional services in the closing (or strike-off) of local companies, working with the Accounting and Corporate Regulatory Authority (ACRA) and other relevant government agencies starting from just $600!
Lead Time For Service
Case-by-Case Basis - Usually around 5 to 6 months
Compliance with Local Laws
Why do you need a Corporate Secretary?
Section 171 of the Singapore Companies Act, Chapter 50 requires ALL Singapore Companies to appoint a Singapore Company Secretary to handle on-going statutory compliance matters.