Incorporation in British Virgin Islands (BVI) (0)
What are the requirements to register an offshore company in BVI?
In order to set up a company in BVI, you may need:
- 01 director
- 01 shareholder
The shareholders, directors, and officers of a BVI Business Company may be individuals or corporations and of any nationality. All of them can be the same person. Directors and shareholders must have adequate capability and legal status; and must be at least 18 year old.
How long does it take to register a BVI offshore company?
It may take from 02 - 03 working weeks to complete the BVI offshore company registration process.What are the steps of BVI offshore company formation?
There will be 03 main steps during the BVI offshore company formation:
- Prepare 03 company names
- The name of a limited company must end with the word “Limited”, “Corporation”, “Incorporation”, “Incorporated”; the words “Societe Anonyme”, “Sociedad Anonima”, the relevant abbreviations (Ltd., Corp., Inc., S.A.) or other word or words, or abbreviations thereof.
- The name of an unlimited company shall end with the word "unlimited" or the abbreviation "Unltd".
- The name of a restricted purposes company must end with "(SPV) Limited" or "(SPV) Ltd".
- The name of a segregated portfolio company must end with "Segregated Portfolio Company Limited"; "Segregated Portfolio Company Ltd"; "SPC Limited"; "SPC Ltd"; or, in the case of a segregated portfolio company that is a restricted purposes company, one of the phrases specified in this paragraph with "(SPV)" inserted immediately before that phrase or immediately before "Limited" or "Ltd".
- The name of a BVI Business Company includes the expression “BVI Company Number”, followed by company number in figures and the ending required, for example, “ BVI Company Number 937238 Ltd”. Such company names may also contain additional foreign characters between the company number and the ending.
- Prepare the documents required
- Global Link Asia Consulting will support you in preparing the documents required to set up a company in BVI.
- Open corporate bank account
- When the BVI company has successfully incorporated in BVI, Global Link Asia Consulting Pte.Ltd will support you in opening a corporate bank account at BVI or other countries (Singapore, Hong Kong, etc.).
Global Link Asia Consulting will support you in:
- Setting up a company in BVI; making company chop, company's names; preparing Certificate of Incorporation, Article of Association, Memorandum of Articles.
- Submitting fee to BVI Government.
- Providing registered address in BVI (for 1 year).
Providing office address in Singapore (optional, fee for 1 year).- Opening bank account in Singapore. The bank chosen shall belong to 5 reputable local banks in Singapore. This support service shall include buying documents from BVI, preparing bank application forms, etc. Please kindly note that the bank authorizer shall have to come to Singapore for the purpose of interviewing bankers.
- Building and designing a website.
Should you require further information regarding BVI company registration, please do not hesitate to contact us:
- Email: info@globallinkconsulting.sg
- Hotline: (+65) 3163 4102
The British Virgin Islands ("BVI"), commonly referred to as the Virgin Islands, is a British overseas territory located in the Caribbean to the east of Puerto Rico. The islands make up part of the Virgin Islands archipelago; the remaining islands constitute the United States Virgin Islands and the Spanish Virgin Islands.
BVI is about 150 square kilometers and consists of the main islands of Tortola, Virgin Gorda, Anegada, and Jost Van Dyke, along with over 50 other smaller islands and cays (about 15 of the islands are resident).
British Virgin Islanders have been called British Overseas Territories Citizens and have had the right to take up full UK citizenship since 2002. Although BVI is not a part of the European Union ("EU") and is not subjected directly to EU law, its citizens are considered to be EU citizens. Hence, many entrepreneurs have chosen to set up offshore company in BVI to take advantages during their international business.
Due to BVI Government Policy, BVI appears to be one of the most attractive investment destinations globally and is named "Offshore Tax Incentives".
International Business Company ("IBC") is referred to as Offshore company. Specifically, IBC is a popular type of company for foreign individuals/businesses to establish a company in BVI.
IBC is a private corporation that is exempt from tax, and suitable for almost all international business activities with a flexible organizational structure (is not burdened by excessive reporting and record-keeping requirements). Besides, IBC maintains strictly confidential provisions (which include the identity of the owner, director, and shareholders).
After the British Virgin Islands International Business Companies Ordinance was adopted in 1984, the Offshore companies have attained a position in the Offshore services industry. Furthermore, with more than 600,000 total incorporations and more than 5000 new companies registered every month, BVI is by far the most popular Offshore Tax Incentives.
1. Tax exemptionThe BVI Company is exempt from the BVI income tax. Additionally, the tax exemption applies to all dividends, interests, rents, royalties, compensations, and other amounts paid by a company; and all capital gains are realized to any shares, debt obligations, or other securities of the company. There will be the Certificate of Tax Exemption for BVI Companies which are qualified to seek exemption from paying taxes. |
2. No restriction on nationalityThe BVI Company requires the following elements:
All of them can be one and the same person, there is no restriction on the nationality of the director and shareholders. |
3. CurrencyUS dollar is the official currency in the BVI. However, there are no restrictions on currencies. |
4. ConfidentialityHigh level of Confidentiality is one of the key features of the BVI Company, because the details of the company's beneficial owners, directors, and shareholders are NOT required in the public record. |
5. No requirements for Annual General Meeting
The shareholder's or director's meetings are not required to be held in the BVI and there is no requirement for an Annual General Meeting. |
6. No obligation to prepare or file financial accounts
BVI Company does not have an obligation to prepare or file financial accounts. However, records, which are sufficient to show and explain the company's transactions, must be kept carefully. These records will enable the company to fully understand its financial position at any time. There is no obligation for such records to be maintained in the BVI, the owner can freely determine where the records need to be maintained. |
We are a consulting firm specializing in offering ONE-STOP solution to tackle increasingly complicated business problems and foreign investment issues for every business in every level of your business development.
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