BVI Offshore Company Registration

BVI offshore company registration can be used for various legitimate business reasons. If the company's business plan is to be presented to third parties abroad (such as banks) then additional certifications will need to be arranged.

BVI IBCs are required to keep a director's register but the details held are not available to the public. Our agents specialize in forming companies and provide more details.

No Corporate Income Tax

The government does not tax profits of a BVI registered offshore company. This is just one of the many reasons investors choose to invest in an offshore company in the british virgin islands offshore company registration Virgin Islands. Other benefits make investing in an offshore BVI company a smart decision, including the ability of avoiding double taxation, lower expenses, and a legal framework that is international.

Offshore corporations registered on the BVI are exempted from local business taxes and stamp duty. In addition they do not have to submit accounts or undergo an audit by law. This makes it a great option for companies seeking to save money on reporting and accounting obligations.

Another benefit of the BVI offshore company is the protection of privacy. The Registrar of Companies doesn't reveal the identities of directors or shareholders to the general public. This makes it a safe place for anyone who would like privacy and anonymity secured. This is among the main reasons that attracts investors to a BVI offshore company registration, especially since it is now commonplace for individuals to run multiple businesses under a single entity.

This information is not publically accessible, even though the Registrar of Companies requires that directors submit their personal information. Only the Registrar of Companies can access this information, and it will only be released to law enforcement agencies on request. Nominee services can be used to protect the identities of directors and shareholders. This is a method in which an outside party acts on behalf of the company's owner.

The Registrar of Companies doesn't require a BVI-based company to declare the financial value of their capital. They are also not required to submit financial reports or accounts. The Registrar of Companies also does not require companies to appoint auditors or conduct an audit as required by law.

The BVI is also popular because it provides a variety of exclusive banking services. These services include asset protection, private banking, investment fund management and insurance reinsurance. The british virgin islands offshore company registration Virgin Islands have a reputation for being an international business hub, and its laws are designed to allow businesses from all around the world.

No information about Directors or Shareholders is disclosed.

The BVI lays a lot of emphasis on privacy for its offshore businesses. The names of directors and shareholders of the company are not made public upon registration. This makes it a great option for foreign investors who want to protect their financial privacy. There are no minimum capital requirements, and the IBC is exempt from tax on income and withholding.

The most common type of company used for offshore purposes is an International Business Corporation (IBC). This legal entity is owned by foreigners and there are no restrictions on the nationality of shareholders or directors. In addition, IBCs aren't required to provide annual financial statements or public reports.

You must select a business name and submit it to the Registrar of Companies in order to create an IBC on the BVI. The Registrar will verify that the name has not previously been used and gives a list of words that are not allowed to be used in the company's name. After the name has been approved, you need to name an agent registered with the Registrar who will represent the company during the registration process. The Local Registered Agent will manage all the paperwork, liaise with the official government authorities and will register the business with the Registrar. It is also essential to establish an account with a bank for corporate use and this can be done prior or after the company has been registered.

After the company has been formed, the annual license fee is due. The license fee is USD 450 for an average IBC with a authorised share capital of up to 50,000 shares. This is a low cost for a state that has no taxes and no withholding or capital gains taxes.

The BVI offers a special offshore company, known as controlled purpose corporations. These legal entities are created with a specific purpose, and the Memorandum will clearly state what that purpose is. This kind of company is usually used for structured financial transactions. Our agents who specialize in BVI incorporation are able give more details on this type of company.

No Accounting Obligations

BVI is a pioneer in the offshore services industry. Hundreds of thousands of international business companies were registered in the islands as of 1984, when they became popular following the BVI International Business Company Act was enacted. The act was adopted as an example of similar laws in other offshore jurisdictions around the globe.

The greatest benefit of the law for investors is that there is no corporate income tax for British Virgin Islands offshore company BVI-based business corporations. Together with other provisions of the law, this feature made BVI offshore businesses a very popular investment vehicle. BVI also doesn't reveal to anyone the identities of directors and shareholders of the offshore company. The only information that is publicly available is the name of the offshore company as well as its registered office and the authorized capital.

Investors should also be aware that the law does not require an offshore company to prepare and prepare annual financial statements, or reports for the public or government. It does, however, require that every company keep a set or documents at its registered agent. These documents and records are kept secret unless the company chooses to reveal them in which case the company has to give a reason for making them public.

If a business decides to make its records and documentation public, it must be prepared in accordance with the International Financial Reporting Standards / IFRS. In these cases, a company may be penalized for failing to comply with the requirements of the law.

The registered agent must receive proof of identity from each person who are on the register of beneficial owner. The register is NOT public, and access to it is only allowed in compliance with the BVI's agreement with UK for the exchange of information in order to combat the financing of terrorism and money laundering.

Having read the above, we believe it's reasonable to say that BVI offers the best privacy and confidentiality protections available anywhere in the world. If you are interested in learning more about the particulars of the BVI jurisdiction, don't hesitate to contact us. We can also connect you with an expert to answer any questions that you might have about setting up a British Virgin Islands offshore company.

There are no documents of the company that are publicly available.

Among the key factors that make BVI one of the most sought-after locations for offshore company registration is the confidentiality. Companies registered in the BVI do not have to reveal the names of company directors or shareholders in public registries, and the privacy of the founders/shareholders is a priority for the local authorities.

BVI was among the first offshore jurisdictions that successfully introduced an legal framework to support these kinds of businesses. Other tax havens follow their BVI law. The primary law that governs them is the BVI Business Companies Act of 2004. It is very flexible and focuses on reducing reporting obligations. It only requires a minimum annual report and no financial statements. It also permits an all-man business with a director and one shareholder.

The Act also puts a strong emphasis on the protection of investors' privacy, and ensures their personal details are not recorded in public registers. Furthermore companies that have been incorporated in the BVI can be owned by foreigners and there are no restrictions on the kind of business they can be involved in.

Investors should note that since April 2016, the BVI has introduced the BOSS System - the Beneficial Ownership Secure Search System, which is a database of beneficial owners. However the information is not accessible to the public. Access to it is limited to those who can prove their need for such data (e.g. to fight money laundering, terrorism financing, and other illegal activities).

If you have to show your company's documents to third parties outside of the BVI for instance, opening bank accounts or purchase real estate, or register a branch or joint venture with a foreign company - you'll have to have them certified as Apostille. We can help you with this as part of our BVI offshore company british virgin islands company formation services. Apostille certificates are extra but it's worth the cost. Contact us for more details.