Why set up your business company in BVI
BVI Company set up
The British Virgin Islands (BVI) is a member of the British Commonwealth and self-governing in 1967. Its International Business Company (IBC) legislation introduced in 1984 enhanced the jurisdiction’s popularity. Flexibility has been a critical factor in explaining this phenomenal success.
The BVI has established a solid international presence and enjoys a reputation for its flexible and modern corporate regime, tax neutrality, respected legal system, political stability and effective regulatory framework.
BVI business companies best advantages
Set up offshore BVI – Company structure flexibility
- Only one director or shareholder required for the company formation.
- Shareholder(s) and director(s) may be the same person.
- The shareholder(s) and director(s) can be a natural person or a corporate body.
- There is no requirement of appointing local shareholder(s) and director(s) for British Virgin Island companies.
- There is no requirement of resident secretary.
Strong asset protection
Most IBC’s are used as asset protection vehicles, very often in combination with a trust as a holding company. Set up an offshore company in BVI is ideal for international trade, holding intellectual property rights, e-commerce, inheritance, consultants, IT company, amongst others but, most importantly as an asset protection vehicle; the directors of a BVI business company may protect the assets by transferring its assets to another company, trust, foundation, association, partnership or any other strong asset protection vehicle.
Privacy for identity of principals
The BVI incorporation documents do not carry the name or identity of any shareholder of director. The names or identities of these persons do not appear in any public record.
Shareholder(s) and director(s) nominee services are allowed to ensure confidentiality of beneficiaries.
Provisions against confiscation
If a foreign Government or authority seizes company shares, or any other interest in the company in connection with nationalization, expropriation, confiscatory tax, other governmental charge or with a similar cause the company or a shareholder may apply to the BVI court for an order that the company disregard the seizure and continue to treat the person from whom the shares were seized as continuing to hold the shares.
But nor all!
Company set up BVI
- Low start-up cost and low annual maintenance.
- Excellent reputation and credibility.
- Tremendous flexibility as it relates to the constitutional documents.
- Complete tax exemption in the country of registration.
- No currency restriction or residency requirements.
- Ease with which profits can be released to make a distribution to shareholders.
- Minimal reporting requirements.
- Political stability.
- No capitalisation requirements for companies.
- Under normal circumstances, BVI corporations can be incorporated within 2-3 working days.
- The oldest and most respected offshore jurisdiction in the world.
- The most elaborate offshore legislation in the world.
- The highest level of security. Information about the owners, shareholders and directors of the company is safely hidden from inquisitive eyes.
- BVI Act does not limit the size of the share capital of companies and does not specify the exact timing for its payment.
- BVI law does not require the company to submit financial statements.
- Free use of directors and shareholders as legal entities.
BVI company set up is a very fast and quick process, taking no longer than 24/48 hours. Offshore company setup in BVI is one of the best offshore options for your international business. Registration of BVI companies is managed by the local division of Atrium & Associates (BVI) Ltd. Our offices are located at Wickhams Cay, Road Town, the capital city of the British Virgin Islands. Our highly qualified staff are at your disposal to deal with all the necessary licenses and permits.