Starting a Business in British Virgin Islands

bvi

Are you looking to register your new start-up in a tax advantageous jurisdiction? You can do it in a straightforward and easy way with the help of our Creative Specialists Corporation. We assist you in understanding the stringent laws and also help you to establish your business without any legal glitches. The laws have clear rules that are mandatory and must be strictly adhered to. We break the jargons and simplify the entire process for your business to set and flourish.

GET YOUR EASY START WITH BRITISH VIRGIN ISLANDS !

1

Select Product

2

Shopping Cart

3

Log in / Register

4

Payment

  • BVI Company
  • $800
  • The complete set of company documents
  • Documents notarized and Apostilled
  • No accounting
  • BVI Company + Bank Account
  • $1100
  • The complete set of company documents
  • Documents notarized and Apostilled
  • Offshore Bank Account under your control

FACTS & INFO FOR BRITISH VIRGIN ISLANDS:

1

CORPORATION INFORMATION:

The BVI constitute one of the world’s most reputable international financial centres and are located approximately sixty miles east of Puerto Rico and two miles from St. Thomas, U.S. Virgin Islands. The new BVI Business Companies Act that was passed in 2005 treated the domestic and international businesses alike under the BVI Business Company (BVI BC). This act has enabled companies to have complete authority on corporate governance and has competitive tax exemptions.

3

LEGAL FORM:

The Business Companies Act allows formation of different types of organisations including private companies, limited or unlimited firms as well as foreign companies who wish to establish in BVI.

5

MEMORANDUM AND ARTICLES OF ASSOCIATION:

Once the firm is registered these documents will signify as this: Memorandum specifies the activities in which the company may engage and Articles of Association specify the rules governing the internal management of the company.

6

SHAREHOLDERS, SHARE CAPITAL:

One shareholder and one director, registered office is mandatory for the firm and the standard share capital is US$ 50,000. The authorised license fee for this will be US$ 1,100. Also, the incorporation time is usually 1-3 business days and via Apostille it is couple of days more.

7

RECURRING AND MAINTENANCE FEE FROM 2ND YEAR:

– Provision of registered office and registered address.
– Provision of company Secretary & registered agent.
– Government fee where a BC has an authorized share capital up to US$ 50,000.

8

TAXATION:

BVI Business Companies are exempted from taxes, capital gains and stamp duties related to assets.

9

FINANCIAL STATEMENTS AND AUDIT:

Even though there is no compulsion to file the audited accounts it is advisable for the firms to maintain the financial records in an expected order.

2

COMPANY NAME:

Usage of appropriate names based on the nature of the business is crucial in BVI. Company names must end in one of the following words, or their relevant abbreviations: Limited, Corporation, Incorporated, Société Anonyme, Sociedad Anonima. This will change for other companies performing in diverse sectors such as banking, finance, insurance and others. Names denoting any connection to local, state or national governments are generally prohibited.

4

THE LATEST CHANGES TO BVI LEGISLATION:

Per the recent changes suggested to achieve compliance with the Financial Action Task Force’s Recommendations (as revised) to BVI legislation it will also bring transparency in beneficial ownership. This might be effective from Jan 2016.
– As per new s.43A BCA, only the filing of the register of members is optional and under the previous s.231 BCA, filing of both the register of members and the register of directors was optional.

– Under s.118B BCA (from April 2016) filing of the register of directors is mandatory.

–  The register of directors is not a public document but can be accessed with a court order after being requested by the suitable authority. The company and its registered agent can access it.

– As per new s.98 BCA the registered agent must request and obtain records when asked by Financial Services Commission (‘FSC’) or other competent authority in the BVI, failing which a fine of $50,000 will be imposed.

– The registered agent must also have identification data which must be produced when asked by BVI Financial Investigation Agency, the FSC or other competent authority in the BVI without delay, upon request and in any event within 48 hours. This is regardless of whether this information is held by the registered agent or by a third party (previously known as eligible introducers).

– BVI companies will not make the list of directors and shareholders public unless the firm chooses to do this. In the light of the recent requirement for UK companies to keep a ‘Register of People with Significant Control’, the BVI remains a desirable jurisdiction for the incorporation of companies.