Offshore in the British Virgin Islands (BVI)
The British Virgin Islands, renowned for its offshore company formation opportunities, offers a very favourable international business environment and financial infrastructure.
Why consider the British Virgin Islands for offshore company registration?
When considering offshore company formation, the British Virgin Islands (BVI) stands out as a very attractive jurisdiction. There are several compelling reasons why businesses should register their offshore companies in the BVI.
Firstly , the BVI offers a favourable tax environment with no corporate income tax, capital gains tax or dividend and interest tax. This tax efficiency provides significant cost savings and maximises profits for offshore companies.
Secondly, the BVI boasts a robust legal framework that supports confidentiality and privacy. The owner of the company is not disclosed publicly, providing a high level of confidentiality for shareholders. This confidentiality is highly valued by companies seeking to protect their assets and maintain anonymity.
Thirdly, the BVI has a strong reputation as a global financial centre, attracting international investors and companies. The jurisdiction offers political and economic stability, as well as a sophisticated banking system and a wide range of professional services. This facilitates smooth operations and increases confidence in business on a global scale.
In summary, there are numerous benefits to incorporating an offshore company in the British Virgin Islands. With a favourable tax regime, a strong legal framework and its status as a respected financial centre, the British Virgin Islands are an excellent choice for companies seeking to optimise tax efficiency, protect privacy and gain access to a reputable global business centre.
How much does it cost to register an offshore company in the British Virgin Islands?
The extended package includes:
Company name check
Company registration
Legal Secretary Services
State duties
Registered office (one year)
Apostille of a set of documents
Courier delivery (international courier service) Nominee director
In addition, the inclusion of a nominee director provides an additional level of privacy and anonymity for the actual owners or managers of the company. This arrangement also allows the nominee director to be appointed as an authorized signatory on contracts.
The basic package includes:
Company name check
Company registration
Legal Secretary Services
State duties
Registered office (one year)
The main advantage of the basic package is that it provides the necessary services for setting up a company, while keeping costs relatively low. It covers the basic requirements for setting up a legal entity
The standard package includes:
Company name check
Company registration
Legal Secretary Services
State duties
Registered office (one year)
Apostille of a set of documents
Courier delivery (international courier service)
The main advantage of the standard package is the inclusion of courier delivery and a legalized set of documents. Legalized documents are easily accepted by banks and financial institutions around the world.
The Premium package includes:
Company name check
Company registration
Legal Secretary Services
State duties
Registered office (one year)
Set of documents with apostille
Courier delivery (international courier service)
Nominee director
Nominee shareholder
Additionally, by using both a nominee shareholder and a nominee director, you can achieve the highest level of privacy and anonymity for the owners.
Still not sure which company or package to choose? Why not take the time to explore the full list of jurisdictions our company has to offer?
Frequently Asked Questions (FAQ) on Company Registration in BVI
1. What is a BVI company and what are its advantages? A BVI company is a company registered in the British Virgin Islands, which is a popular jurisdiction for setting up International Business Companies (IBCs). Advantages include: - Tax benefits (no taxes on income, dividends, and capital gains). - Confidentiality of shareholders and directors. - Ease of management and no mandatory annual reports. - Global recognition and stability of the jurisdiction. 2. What documents are required to register a BVI company? To register a BVI company, you must provide the following documents: - A copy of the passport of each shareholder and director. - Proof of residential address (e.g. utility bill). - A completed questionnaire indicating basic information about the company (name, activities, etc.). 3. How long does it take to register a BVI company? Typically, the BVI company registration process takes between 3 to 5 business days, provided that all required documents are submitted on time and in full. 4. Do I need to visit the BVI to register a company? No, you do not need to be present in the BVI to register a company. All documents can be submitted remotely through a registered agent. 5. What is the minimum share capital required for a BVI company? There is no minimum share capital requirement for registering a BVI company. Typically, companies are registered with an authorized capital of 50,000 shares of $1 each, which avoids additional government fees. 6. Is it mandatory to have an office in the BVI? No, a BVI company is not required to have a physical office in the BVI. However, the company must have a registered address and a registered agent in the jurisdiction. 7. What information must be submitted to the BVI Registrar of Companies? The BVI Registrar of Companies requires information about directors, shareholders, and beneficial owners. This information is not publicly available, which helps maintain confidentiality. 8. Does a BVI company have to file financial statements or get audited? BVI companies are not required to file financial statements or be audited. However, companies must keep internal accounting records to reflect their activities. 9. Can I use a BVI company to hold assets or property outside the BVI? Yes, a BVI company is often used to hold assets, property and intellectual property outside the BVI due to the ease of doing business and minimal reporting requirements. 10. What are the annual costs associated with running a BVI company? The main costs include paying a registered agent, maintaining a registered office address and an annual government fee. These costs typically range from $1,000 to $2,000 per year, depending on the service provider. 11. How do I close a BVI company if I no longer need it? You can use the voluntary liquidation procedure to close a BVI company. This involves notifying all interested parties, preparing liquidation accounts and filing documents with the registrar. The process can take several months. 12. What activities require licensing in the BVI? Certain activities, such as financial services, investment fund management and insurance, require a special licence from the BVI Financial Services Commission. Most other activities do not require a licence.