Our Services – Offshore Company Formation, Nominee Director, Nominee Shareholder, Mail forwarding and Bank Accounts
Offshore Formations 247 specialize in British Virgin Islands (BVI) company formations ranging from simple company registrations to complex structures including offshore Trusts and in providing a very comprehensive assortment of administrative services to British Virgin Islands (BVI) companies, including the provision of Nominee Director, Nominee Shareholder, Mail Forwarding and Bank Account services. We are also able to offer a 'transfer in' service whereby we can take over the management of your existing British Virgin Islands (BVI) Offshore Company, often for no cost at all.
Our specialist British Virgin Islands (BVI) company formation and company registration team:
- Retains well-established affiliations with local company agents in the British Virgin Islands
- Maintains an experienced staff with knowledge of legal requirements for company formation in the British Virgin Islands
- Guarantees that all company filing fees and documents are up-to-date and notifies clients of all BVI compliance changes
Call our specialist the British Virgin Islands company formation team FREE on 0808 168 3676. If you are calling from outside the UK, please call us on 0044 (0) 208 492 6388
Offshore Formation Background in British Virgin Islands Offshore Company
The British Virgin Islands (BVI) constitute one of the world’s most reputable offshore commerce and finance centers, located approximately sixty miles east of Puerto Rico and two miles from St. Thomas, U.S. Virgin Islands. Telephone, internet and postal services are good (as you’d expect from one of the main offshore financial centres in the world). Its official language is English. The International Business Companies Act of 1984 provides for the incorporation and administration of the International Business Companies (IBC) in British Virgin Islands (BVI). Companies incorporated under the Ordinance enjoy a complete exemption from income tax.
Offshore Tax Information in British Virgin Islands Offshore Company
On January 1, 2005, a new version of the British Virgin Islands (BVI) Business Companies Act was adopted, implementing further improvements in the British Virgin Islands (BVI) offshore corporate legislation which is already considered to be excellent. The new British Virgin Islands (BVI) Business Companies Act removes any distinctions between the companies operating in the domestic market and companies restricted only to international business, and joins them into one unified type of company – a BVI Business Company. This new corporate structure preserves all the benefits provided by the previous legislation, including exemption from taxes.
British Virgin Islands Companies and their Tax liability
British Virgin Islands (BVI) Business Companies are exempt from British Virgin Islands (BVI) income tax, from tax on dividends, interest, royalties, compensations and other amounts paid by a company; also they are exempt from all the capital gains, estate, inheritance, succession or gift tax with respect to any shares, debt obligations or other securities of the BVI IBC’s. The companies are exempt from any kind of stamp duties relating in any way to its assets or activities, with an exception for land-ownership transactions in the BVI: in that case stamp duty remains payable.
British Virgin Islands Offshore Company Banking
Offshore Formations 247 can incorporate BVI companies with a choice of offshore bank accounts at the time of formation. We work closely with a number of banks, including HSBC, and FBME bank in Cyprus. Combining the two saves time and couldn’t be simpler.
British Virgin Islands Company Formation / Registration
Offshore Formations 247 are able to incorporate a British Virgin Islands (BVI) offshore company. Company formation normally takes up to 1 to 2 days to register, though Off The Shelf companies are available should your requirements be more immediate.
British Virgin Islands Offshore Company Anonymity and Disclosure.
The BVI has traditionally offered excellent privacy. British Virgin Islands (BVI) offshore companies are not required to disclose the names of directors and beneficial owners to the registration authorities. Whilst there is no requirement to prepare and file annual accounts, a company is required to keep financial records, which reflect the financial position of the company.
British Virgin Islands Offshore Company Shares
There is no specific minimum capital requirement. The standard authorised share capital is US$ 50,000. The minimum issued capital may be one share of no par value or one share of par value. Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights permitted. Companies with an authorised capital up to US$ 50,000 pay US$ 350 annual license fee to the government. Additional annual fees would be payable for companies having a higher share capital.
British Virgin Islands (BVI) companies can offer bearer shares whereby it’s not necessary to disclose the beneficial ownership of companies to any person in the British Virgin Islands (BVI).
Bearer shares allow you to keep details of your shareholding private as ownership of the shares passes simply by physical transfer. As such, if you wanted to keep your holding of a particular company private, bearer shares could be ideal. Note that the British Virgin Islands (BVI) have now made changes to the bearer share regime so that the name of the beneficial owner would need to be provided to certain ‘custodians’ such as certain financial institutions. They would, however, have to guarantee confidentiality.
Corporate & Legal Information in British Virgin Islands Offshore Company
CORPORATE INFORMATION
| Type of entity |
IBC |
| Type of law |
Common |
| Shelf company availability |
Yes |
| Our time to establish a new company |
2 days |
| Government fees for a share capital not exceeding US$50,000 |
US $350 |
| Government fees for a share capital exceeding US$50,000 |
US $1,100 |
| Corporate Taxation |
Nil |
| Double taxation treaty access |
No |
SHARE CAPITAL OR EQUIVALENT
| Standard currency |
US $ |
| Permitted currencies |
Any |
| Minimum paid up |
US $1 |
| Standard Share Capital |
US $50,000 |
DIRECTORS
| Minimum number |
1 |
| Local required |
No |
| Corporate directors permitted |
Yes |
| Publicly accessible records |
No |
| Location of meetings |
Anywhere |
SHAREHOLDERS
| Minimum number |
1 |
| Publicly accessible records |
No |
| Location of meetings |
Anywhere |
COMPANY SECRETARY
| Required |
Optional |
| Local or qualified |
No |
ACCOUNTS
| Requirement to prepare |
Yes |
| Audit requirements |
No |
| Requirement to file accounts |
No |
| Publicly accessible accounts |
No |
OTHER
| Requirement to file annual return |
No |
| Change in domicile permitted |
Yes |
Why Form British Virgin Islands Companies?
The British Virgin Islands can be found north of the Caribbean near to the Atlantic ocean. They are now one of the most popular destinations for the forming of offshore companies due o the many benefits they can offer to those looking to set up a company. British Virgin Islands companies are able to take advantage of lenient taxation, a stable political situation and a great economy. There are also many other benefits available depending on the type of British Virgin Islands companies which are formed.
The Advantages Of Forming British Virgin Islands Companies
There are many advantages which you will find when setting up British Virgin Islands companies with Offshore Formations 247. Even if you are a single shareholder you will have no problem n setting up a company on the British Virgin Islands.
When you set up shop in the British Virgin Islands, you will not be expected to disclose any company information such as who your shareholders or directors are, so anyone who is looking for ultimate privacy should seriously consider British Virgin Islands companies.
There are already around 50,000 British Virgin Islands companies thriving, so this just goes to show that the islands are a popular jurisdiction with a great reputation for successful business.
No Presence
Another great thing about using the British Virgin Islands as your base for an offshore company is that there are no requirements for a resident secretary or local directors etc., so you can carry out your business from any location in the world, at your own convenience. You are also allowed to hold business bank accounts in any part of the world too, something which can be very useful.
Offshore Formations 247
Here at Offshore Formations 247, we pride ourselves upon offering a simple process which will allow our clients to forma company offshore on the British Virgin Islands with a minimum amount of fuss.
We are specialists in offshore company formations in a number of destinations across the globe and can provide you with everything from simple company registrations to more complex structures. We also offer administrative help to our clients and can even take over your British Virgin Islands companies at no cost.
The Benefits Of British Virgin Islands Company Formations
If you are looking to form an offshore company, there are few destinations which will be more suitable than the British Virgin Islands. Here at Offshore Formations 247, we offer a range of British Virgin Islands company formation structures which will have you set up in business in one of the most popular offshore jurisdictions in absolutely no time at all.
The British Virgin Islands
The British Virgin Islands are is a British overseas territory which can be found to the east of Puerto Rico. It is currently one of the biggest offshore financial centres in the world. This means that the islands are very prosperous and are the ideal place for anyone looking to form a company, thanks to the favourable taxation system and excellent company regulations.
The Benefits
At Offshore Formations 247, we can help you with all of the work involved in British Virgin Islands Company formations, so you can set up business there without any of the hard work. There are lots of reasons why the British Virgin Islands are a great place to form a company, not least the International Business Companies Act o which allows companies who are incorporated under the ordinance to be completely exempt from income tax. This means that any British Virgin Islands company formations will be completely free of income tax, tax on dividends etc.
Not only that but British Virgin islands companies will also be exempt from capital gains, estate and inheritance, so it really is one of the best place to set up business for those who wish to keep costs to a minimum.
Privacy
The British Virgin Islands offers an unparalleled level of privacy to company directors and shareholders. There is no need to disclose this information to any officials upon registration.
British Virgin Islands Company Formations
Here at Offshore Formations 247 we are able to incorporate British Virgin Island companies. We do this very quickly and usually your business will be incorporated within 2 days. However, if you need a quicker service, you could always purchase one of off the shelf companies instead. This is a great alternative to forming a new company and something which is a very popular option with our clients.
