The British Virgin Islands (“BVI”) has been the premier Offshore Company Formation location of the past 20 or more years. This tiny self governed British dependent Caribbean territory, with a population of just 20,000, has seen some 800,000 IBCs registered within its shores during that time. BVI companies carry essentially the same features and benefits of Seychelles and Belize IBCs except that Bearer Shares are no longer freely available. Nonetheless BVI IBCs are more readily recognized by the worldwide financial community than most IBCs and are still a popular choice.
Key features and benefits include:
- Zero Tax: IBCs registered in the BVI are not liable to pay tax on business profits locally and dividends can be remitted into and out of BVI tax free.
- Privacy: There is no public register of directors, shareholders or beneficial owners in the BVI.
- Nominees Permissible: Nominee Shareholders and Professional Directors are permissible in the BVI and the nominee can also be another (Offshore) Company.
- Bearer Shares available: Bearer Shares are permissible although they must be held by an approved custodian and an additional annual fee applies.
- Prestige: The BVI is a highly regarded brand name within the International Financial Services community
Other features include:
- Minimal Paperwork – There is no requirement to file annual returns or to have accounts audited for BVI IBCs and no financial or business records need be kept at the Company’s registered office
- Account choices – With the reputation of the BVI as a responsible well regulated Financial Centre offshore accounts can be opened easily in most major centres
- Migratable – The BVI recognizes that modern market expects an IBC to be able to shift location quickly and easily and have enshrined this right in legislation
- Language Choices – A BVI IBC can be registered in any language
- Flexibility – Only one Director and Shareholder is required and board meetings can be held anywhere in the world
At OCI we believe in giving you more for your money than would the average Offshore Company formation service. Hence included in the registration package for your BVI IBC is the following
- Unlimited name availability inquiries
- Advice from an experienced International Corporate Lawyer on how to structure your company
- Preparation (overseen by a lawyer) of application to incorporate the company
- Preparation (overseen by a lawyer) of the company’s memorandum of association
- Preparation (overseen by a lawyer) of the company’s articles of association
- Attending to filing incorporation request with the company registry
- Attending to payment of government filing fees
- One year’s Registered Agent service in the country of incorporation
- One year’s Registered Office service in the country of incorporation
- Mailing address in the country of incorporation
- Delivery of Incorp pack by international courier (ie DHL/Fedex/TNT etc)
- Unlimited free legal consultations for 12 months
Documents included in your Incorp pack:
- Certificate of incorporation
- 2 sealed/stamped copies of the company’s Memorandum of Association
- 2 sealed/stamped copies of the company’s Articles of Association
- Resolution appointing first director/s
- Resolution appointing first shareholder/s
- Up to 5 share certificates
- Resolution to open a bank account
- Resolution to rent an office
- Resolution/s to engage a Phone, Internet & Website service provider
- Resolution to hire a staff member/s
- Resolution to appoint a company lawyer
- Resolution to appoint a company accountant
- Resolution appointing you as the company’s authorised representative in commercial negotiations
- Resolution issuing a Power of Attorney in your favour
- Agreement authorising you to represent the company in commercial negotiations
- Power of attorney authorising you to sign documents on behalf of the company
- Register of directors
- Register of shareholders
- Expression of wishes (ie an “Offshore” Will)
- Lawyer authored User Guide (“How to Use Your Offshore Company”)
Price (all inclusive): $US 1,250 With tax effective offshore company management (ie including Professional Corporate “Nominee” Director, Shareholder & Company Secretary): $1,650
Every effort has been made to ensure that the details contained herein are correct and up-to-date, but this does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error or omission.