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Information About BVI Offshore Companies

BVI offshore companies have been available since 1984 under the BVI International Business Companies Act but the legislation was changed in 2004 and the BVI offshore companies now go by the name BVI Business Company. The change in offshore legislation provides a more modern BVI offshore company with all the benefits that the BVI international business companies enjoyed. BVI offshore companies registration can be done by persons of any nationalities.

To receive help with other company incorporation and asset protection tools feel free to send in questions on how to and strengthen asset protection by using and foundations as offshore tax planning tools and strategies. Second citizenship is a service provided through based in St. Kitts and Nevis and in Dominica. The value of a is not measurable financial terms based on the opportunities presented for another home, new markets and living safely.

The first order of business when considering BVI offshore companies formation is choosing a registered agent for company incorporation, as the companies’ regulations state that the services of an offshore agent must be enlisted for offshore company registration BVI. There are many agents in the jurisdiction providing offshore company incorporation services. The BVI registered agent responsibilities includes preparing the documents required by the Registrar of Companies for offshore company registration.

The requirements for BVI offshore companies’ formation are minimal; one shareholder and one director are needed and the same individual can assume both roles. The use of corporate company directors and shareholders are permitted for BVI offshore company registration. BVI company registration takes just one day to complete with very affordable fees for company registration. BVI regulations allows for nominee shareholder and directors to be used for company formation. This is to the advantage of clients who want privacy as the name of the beneficial owner of the BVI Company will not appear on the BVI offshore company records. The requirements for BVI offshore company formation are listed below.

  • Registered agent
  • Local registered office
  • Proposed BVI company name
  • Name and address of directors and shareholders
  • Memorandum of Association
  • Articles of Association
  • No minimum authorised share capital but the standard is US$50,000
  • The types of shares and the value of shares issued must be listed
  • The by- laws of the company

BVI offshore companies have the advantage of tax exemptions on all profits which are gained outside of the territory. The new BVI companies act removed any divisions between offshore companies and BVI local companies; this means that the BVI offshore company will not pay local taxes on profits gained outside of the BVI. Tax exemptions are given on Capital gains tax, corporate tax, and Income tax. All BVI offshore companies must pay registration fees and an annual renewal fee.

BVI offshore companies features make the offshore company very attractive to investors particularly individuals who are looking for a trading company. Although the BVI Company has numerous uses the most common use is as a trading company for trade outside of the territory. The BVI offshore company can also be used as part of tax planning strategies.

Unlike a local company a BVI offshore company gets to keep its financial records private. There is no need for a BVI offshore company to prepare and file annual financial records with the local tax authority in the jurisdiction.

BVI offshore companies incorporation is very popular and the figures show that at least 5000 BVI offshore companies are registered annually in the jurisdiction. Legislation provides privacy for the beneficial owners and company officers. BVI company records are not filed publicly and the use of nominee company officers provides more privacy for all concerned.

BVI offshore companies are not allowed to carry on local business and cannot do business on behalf of local residents. Other restrictions in place for BVI offshore companies include not being able to own real estate in the jurisdiction. A BVI offshore company which intends to undertake the business of banking or any other financial activity must apply for special license.

BVI offshore companies represent one of the best offshore companies which are available today. BVI jurisdiction has a stable economy and political system where the authorities work to ensure that the offshore sector survives. A BVI company can be put to use in many areas and the benefits of BVI offshore companies are many. BVI company incorporation is low cost and the agents who provide offshore incorporation services have many years experience.

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