A BVI offshore company has a multitude of business uses and offers important benefits in terms of taxation and ease of company formation. Asset management and protection are common uses for this type of legal entity, however, investors can easily use it for an e-commerce business as well as for the formation of mutual funds.
The flexibility of the International Business Company, the IBC, is one of its defining characteristics and a great advantage for investors.
The incorporation of the BVI is easy, especially with the help of our team of British Virgin Islands company formation agents. Foreign investors who are interested in opening this business form can reach out to our specialists for more in-depth information as well as personalized services.
The uses of a BVI IBC are diverse, almost unlimited as per the laws and regulations in force. The International Business Company Act effectively allows this company to engage in any type of business, provided that it is not an illegal one under the local laws.
Some of the uses of a British Virgin Islands IBC are the following:
The purposes of the IBC are only briefly stated in this article. Investors who need more information about incorporation as per specific uses can reach out to our BVI company formation agents. If you are interested in starting a business in another country, such as the Netherlands, we can put you in touch with our local partners.
The first step when opening a BVI company is choosing the structure. The company can be limited by shares or limited by guarantee and it cannot issue shares. These are just two examples of the structuring for this business form. In practice, most investors will choose to open a company limited by shares. The owners will then prepare the company documents, the memorandum and the Articles of Association and then handle the actual registration phase with the Registrar.
Once the company is set up, investors will open a bank account and handle other details, such as obtaining special permits and licenses, should the company’s activity be subject to mandatory licensing, for example when engaging the in the financial services sector.
The IBC is a type of legal entity that has favorable advantages not only in terms of taxation but also for keeping the confidentiality of its owners. One of our BVI company incorporation specialists can provide investors with more information on this matter.
Investors who wish to know more about business and corporate law in the British Virgin Islands can rely on the assistance offered by our attorneys. Our full-service law firm works with international investors and our lawyers in BVI can answer any questions that can help you in making your investment decisions. Contact us for more information about our legal services.
A requirement for BVI company incorporation is for the company to have a registered address and a registered agent. The address needs to be in the British Virgin Islands and the registered agent also needs to be based here. There are no requirements regarding the nationality of the company shareholders or directors. A minimum of one director and one shareholder are required to open the company. While there is no specific minimum share capital requirement, in most cases the standard authorized capital is 50,000 USD.
Investors who wish to appoint a nominee director and/or nominee shareholders can do so during the initial steps of BVI offshore company creation. This adds another layer of confidentiality for the beneficial owners of the company and does not influence the business activities.
The accounting requirements are quite light, compared to other jurisdicions, however, working with a team of accountants in BVI is advisable.
BVI is a popular jurisdiction for company formation, partly due to the many uses of an IBC as highlighted in this article. The following data on the number of incorporations is available as per a statistical bulletin issued in the first quarter of 2019 by the Financial Services Commission:
Investors who have managed a BVI company by residing in the Islands for a number of years can apply for British Virgin Islands Residency with our help.
Our team of BVI company formation agents can provide complete assistance to investors who are interested in opening a company in the British Virgin Islands. Contact us for more information on the incorporation of the company as well as its uses in the jurisdiction.
