If you want to start an offshore firm, deciding where to incorporate is a big and vital step. The improper decision might result in costly costs, stringent rules, and legal consequences. You require a jurisdiction that works for your business, not against it. The British Virgin Islands (BVI) is a popular choice because it provides tax benefits, anonymity, and is easy to set up. Atrium-Bvi will help you out.
Before selecting whether or not to establish your own BVI business company, you should weigh the benefits of offshore company BVI overseas territories. This article explains about types of BVI company formation, allowing you to make an informed decision.
What is a BVI company?
A BVI corporation is a firm that is registered in the British Virgin Islands (BVI). It is formally known as a Business Company (BC) and is frequently utilised globally. BVI businesses are noted for their easy creation, adaptable structure, and robust privacy safeguards. They can be founded by people or businesses, and there is no necessity for local ownership or directors.
Types of BVI Company Formation
Company Limited by Shares: This is the basic BVI corporation structure. It issues shares to investors, and shareholder liability is restricted to the amount unpaid on their shares. Directors oversee everyday activities.
Restricted Purpose Company: This kind is designed for certain commercial operations, such as securitisation and structured financing. It has a limited corporate scope and must be registered as a restricted purpose company upon registration.
A Segregated Portfolio corporation (SPC) enables a corporation to establish distinct asset portfolios. Each portfolio is legally protected, which means that one portfolio’s obligations do not impact the others. This structure is utilised in both investment funds and insurance.
Company Limited by Guarantee: This kind does not issue shares. Instead, members offer a financial assurance. It can be constituted with or without the option to issue shares and is commonly used by non-profit organisations.
An unlimited business can issue an infinite number of shares, and it may or may not be authorised to do so. At least one member must assume limitless culpability for the company’s obligations.
Register your offshore company BVI with Atrium-bvi now and have access to a multi-currency business account in Bvi.
