British Virgin Islands Company (BVI)

BRITISH VIRGIN ISLANDS OFFSHORE INCORPORATION
British Virgin Islands or BVI as it is commonly known is a group of approximately 40 islands and islets situated in the Eastern Caribbean 60 miles east of Puerto Rico and 180 miles northwest of Antigua. It has an excellent business environment partly due to the economic and political stability and partly due to the economic policies that have been adopted. For example, direct taxes are very low and tax exemption is given to certain kinds of companies. Exchange laws are very lenient and reporting requirements are minimal. BVI Incorporation is further made easy with the availability of a modern and well established communication system.
 

FEATURES OF A BRITISH VIRGIN ISLANDS COMPANY
 
  • A minimum of one shareholder and one director.
  • Purchase and ownership by the company of its own shares is permitted.
  • Statutory power is given to the British Virgin Islands offshore companies to engage in any lawful activity.
  • No public record is maintained as to the identity of shareholders or directors.
  • Board meetings can be held anywhere in the world and can be conducted by telephone.
  • Exemption of company and shareholders from all BVI income taxes and BVI stamp duty.
  • Corporate domicile can be changed to another jurisdiction.
  • Directors have power to protect the assets of the company by transferring assets to trustees, another company or legal entity, for the benefit of the British Virgin Islands offshore company, its beneficial owners or creditors.
  • No statutory requirement to file annual return and to call for an annual general meeting.
 

BANK ACCOUNT OPENING
 
We assist in the bank account opening in Singapore. The processing time is between 1 week to 3 months and subject to the approval of bank. No guarantee.
 

BUSINESS ENVIRONMENT
 
The attractions of the British Virgin Islands as a financial centre are as follows:
 
  • Political and economic stability
  • Competitive administration costs
  • Low direct taxation with tax exemption for certain classes of companies in BVI
  • No capital gains, gift or wealth taxes and no death duties in BVI
  • No exchange controls
  • Modern corporate code
  • Established trust law
  • Excellent communications worldwide
  • Limited reporting requirements
  • Professional expertise to assist individuals and companies using the jurisdiction
  • Minimum of bureaucracy and red tape
 

GOVERNMENT & LEGAL SYSTEM
 
The British Virgin Islands is a British Dependent Territory which has had responsibility for administering its own internal affairs since 1967. Independence from the United Kingdom is not an issue in local politics.

The Islands legal system is based on English common law and rules of equity, and on local statutes. The jurisdiction is part of the West Indies Court system with final appeal to the Privy Council in London.
 

THE ECONOMY
 
The most significant sectors of the economy are offshore financial services and tourism and trading as listed in the price action indicators blog. The B.V.I. is the world’s largest offshore corporate domicile.
 

BANKING
 
The British Virgin Islands Government maintains a restrictive policy on the granting of bank licences at present limiting such licences to affiliates and branches of recognized international banks.

The currency in use in the Islands is the United States Dollar. There are no exchange controls or restrictions on the movement of funds into and out of the Islands or on their conversion into other currencies.
 

TIME FRAME FOR BVI OFFSHORE INCORPORATION
 
BVI incorporation is simple and fast.

You may select from our list of readily available companies or incorporate a company with your own choice of name.

You will receive the full set of BVI Company Incorporation corporate documents about 10 working days from the date of incorporation.

 

 
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