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Registration of a company in the British Virgin Islands (BVI)
- Price:from 2600 EUR
- Term:3 weeks
The British Virgin Islands (abbreviated as BVI) is a classic tax-free jurisdiction that is recognized as offshore. It was the tax-free status that attracted businessmen from all over the world for many years, which led to the creation of numerous fictitious firms.
This fact certainly began to attract the attention of international regulators, and soon global deoffshorization forced the jurisdiction to introduce requirements for substance (real presence of companies) and launch a register of beneficiaries. Despite this, the BVI still retained some "trump cards" for investors.
The country is often used to create investment companies, trusts, funds, preferential registration of yachts and ships, trading activities with America. After the introduction of substance, many activities were required to have a real office and employees on the island.
- identification of the client according to the KYC procedure
- registration procedures
- payment of the registration fee
- services of a legal address for a year
- legal and tax advice
- preparation of a package of corporate documents
- corporate seal
- one delivery of documents
- verification of the company's compliance with all compliance and KYC criteria
- services of a legal address for a year
- legal and tax advice
- 1British Virgin Islands tax free offshore zone
- 2Profitable trade routes to EU, US and Caribbean
- 3IBC company can be registered remotely
- 4The director of the company can independently determine the amount of the authorized capital
- 5Non-residents can directly own the company, hold the position of director or shareholder
- 6Jurisdiction does not establish currency controls
- 7The BVI allows the transfer of an operating company to another jurisdiction
- Capital - there is no minimum amount, but it is recommended to use up to 50,000 USD to avoid a high annual fee. Capital payment is not required.
- Director - can be both an individual and a corporate person. At least one director is required. Residence is not taken into account. Delegation of management functions is possible.
- Shareholder - can be either an individual or a company. Residence is not taken into account. The position is compatible with the director. Must have 1 shareholder. Delegation of management functions is possible.
- Secretary - the legislator does not require.
- Register of Beneficiaries - Companies are required to enter data on their owners into the BOSS system. Until 2023, this system is available only to the competent authorities.
- Available information - about the name of the company, legal address, the size of the authorized capital.
- Substance requirements – apply to companies that carry out regulated activities. The concept of substance includes the local office, director and secretary residents, local employees.
- Legal address - a local address is required.
Non-resident companies in the BVI are exempt from filing financial statements and undergoing an audit. But, with the tightening of legal requirements and the introduction of Substance rules, all companies, regardless of residency, are required to submit an annual report to the BOSS system on the criteria for economic presence, as well as store accounting documentation with the registered agent.
From 2023, IBCs are also required to file financial information with the registered agent in the form of an annual report. This report will not be submitted to the tax authorities. The deadline for submission to the agent is annually within 9 months after the end of the financial year of the organization.
- 3 desired company names;
- description of directions of work of the future company;
- passport of the shareholder, director of the company;
- international passport of the shareholder, director of the company;
- confirmation of the address of registration of the shareholder (for example, a utility bill receipt);
- confirmation of the director's registration address (eg utility bill).