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British Virgin Islands Offshore Company

 

British Virgin Islands Offshore Company | Formation

 British Virgin Islands Offshore Company 

 

British Virgin Islands Offshore Company | Formation

  • British Virgin Islands Offshore Company | Formation The Virgin Islands, commonly known as the British Virgin Islands (BVI), 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 US Virgin Islands and the Spanish Virgin Islands.The official name of the Territory is still simply the “Virgin Islands”, but the prefix “British” is often used to distinguish it from the neighbouring American territory which changed its name from the “Danish West Indies” to “Virgin Islands of the United States” in 1917. British Virgin Islanders are classed as British Overseas Territories citizens and since 2002 have had full British citizenship. Although the territory is not part of the European Union and not directly subject to EU law, its citizens are deemed to be citizens of the EU as well. – Source Wikipedia -.
  • British Virgin Islands Offshore Company | Formation As an offshore financial centre, the British Virgin Islands enjoys one of the more prosperous economies of the Caribbean region, with a per capita average income of around $42,300 (2010 est.) The “twin pillars” of the economy are tourism and financial services. Politically, tourism is the more important of the two, as it employs a greater number of people within the Territory, and a larger proportion of the businesses in the tourist industry are locally owned, as are a number of the highly tourism-dependent sole traders (for example, taxi drivers and street vendors). Economically however, financial services associated with the territory’s status as an offshore financial centre are by far the more important. 51.8% of the Government’s revenue comes directly from licence fees for offshore companies, and considerable further sums are raised directly or indirectly from payroll taxes relating to salaries paid within the trust industry sector (which tend to be higher on average than those paid in the tourism sector). – Source Wikipedia -.
 
 

British Virgin Islands Offshore Company | Formation  Start To Finish_Jpeg

 

 

British Virgin Islands Offshore Company | Formation

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BVI Key Company Features
General
Company type International Business Company (IBC)
Type of Law Common Law.
Company powers A registered International Business Company in
the BVI has the full capacity of, and all rights,
powers, and privileges of, a natural person.
Requirement for registered office and address Yes, must be maintained in BVI or at the
premises of a licensed management company.
(we can assist in proposing)
Name restrictions Names of existing firms,or names similar enought to
cause confusion. Names that reference to the BVI
govornment and or the Royal Family, and any name
in the opinion of the Registrar considered undesirable
or obscene .We can assist with the naming.
Language of name Must be registered in Latin script. Foreign names in
Latin are acceptable as long as it is accompanied by
a translation to ensure compliance.
IBC allowable suffixes Limited, Corporation, Incorporated, Société Anonyme,
Sociedad Anónima or their relevant abbreviations.
Corporate Taxation World-wide taxation on profits is Zero
Corporate legislation environment The Belize International Financial Service Commission
is the governing authority and companies are regulated
under the IBC Act 1999.
Language of legislation and official documentation English
Offshore legisltation environment Modern offshore legislation
Restrictions on Trading Cannot trade within BVI or own real estate there.
Cannot undertake the business of banking, insurance,
assurance or reinsurance, rendering investment advice
or other activities that would suggest association with
the banking or insurance industries. Company shares may
not be offered for sale to the public.
Confidentiality Beneficial interests and officers are not disclosed to authorities.
Stability Stable juristiction with solid reputation
Formation Time 3-4 Days
Bearer Shares Bearer shares are not permitted
Timezone GMT-6
Share capital requirements
Official currency US$
Permitted currencies Any
Share capital requirement 1 US$
Directors
Minimum Directors 1
Requirement for local administrator or Director None
Location of meetings and General Assembly Anywhere
Shareholders
Minimum number of shareholder/s 1
Public records access requirements No
Company Secretary
Requirement Optional
Local or licensed requirement None
Statutory Accounts Requirements
Accounting/Reporting requirements Yes
Annual Tax returns No requirement to File
Requirements for Audit None
Public Accesability of Accounts None
Incorporation Procedure and Documentation
A certified passport copy (or identity card), as well as proof of domicile (ie utility bill) dated less than three months.Note: It is possible to represent you with a confidential mandate. Contact us for more details.