The British Virgin Islands (BVI) consists of 60 islands and mud reefs, with a total land area of 59 square miles. It is located to the northwest of the Virgin Islands in the United States. The larger adjacent island is Puerto Rico, 60 miles to the west. The British Virgin Islands, formerly a colony of the United Kingdom (Britain), became self-governing in 1967. Since the introduction of the International Business Companies Act in 1984, the British Virgin Islands has begun to establish its offshore financial center. At present, it has become the world's most famous offshore jurisdiction, with more than 290000 companies on the island in the past decade.
Advantages of registering a BVI company
1. It is completely confidential and anonymous, without specifying the company owner, without submitting the balance sheet, and without holding the annual meeting of shareholders or directors.
2. Business activities and transactions conducted outside the British Virgin Islands (BVI) are fully tax exempt.
3. The registration procedure is simple and the management mode is simple. Reasonable registration fees and management fees. Keep commercial secrets absolutely.
4. No maximum or minimum capital requirements.
5. Implement the minimum charging standard.
6. International business companies may issue shares in any currency.
7. International business companies can choose any form of currency to conduct any legal business activities and transactions in any country.
8. Shareholders can decide to subscribe for registered or anonymous shares, or they can choose to subscribe for shares without par value.
9. Shares may be mortgaged or charged, and may be registered if desired.
10. International Business Corporation permits sole director.
11. Shareholders, directors and officers may be residents of any nationality and any country.
12. Shareholders may not be directors or officers.
13. A director or official may be a legal person or a natural person.
14. Shareholders and directors may hold meetings in any country and may send proxies to attend.
15. The term "limited" can be used for international business companies.
16. Company books and records can be kept anywhere in the world.
17. Use standard company registration documents including the memorandum and articles of association and certificate of incorporation because the British Virgin Islands (BVI) is a British jurisdiction.
18. The company registration documents can be drafted in Spanish with English translation.
The comprehensive characteristics table has good market acceptance and credit
Good political stability
Common law or civil law
Company type International business company
Do not disclose the name of shareholders or company owners
Migration registration place is not allowed
No taxation on foreign profits
Minimum number of shareholders: one
Minimum number of directors: 1
Can shareholders and directors be the same person
Allow bearer shares
Whether the company is allowed to be a director
Standard authorized share capital US $50000
Local directors are not required to
Local meetings do not have to
The registration of government directors and shareholders is not required
Annual business declaration is not required
It is not necessary to submit accounts
Official language English
Common currency USD
Types of shares: shares with or without par value, bearer shares, repurchased shares, voting shares and non voting shares
Infrastructure BVI (British Virgin Islands) has a large number of international accounting firms and law firms. (But so far there are not many international banks on the island.). The company registry on the island is advanced and efficient. The island has a perfect communication system and first-class transportation and postal services.
The legal system of BVI (British Virgin Island) is established with reference to the British common law system. Of course, some local provisions have also been added, and some provisions of the Delaware Company Law of the United States have also been quoted. The flexible legal system of the British Virgin Islands has made her highly popular in the market. Although there is no separate legislation on the confidentiality of company information in the island's laws, according to the British common law, there are specific restrictions on the confidentiality of customer information in professional service industries.
Taxes, license fees and foreign exchange control BVI (British Virgin Islands) international business companies are not required to pay taxes to the BVI government for profits earned globally. BVI (British Virgin Island) has no foreign exchange control and no restrictions on the circulation of any currency.
Documents and information required for registration - basic information of the company's directors and shareholders, including address, nationality, passport or ID card copy.
-Original copies of any utility payment receipts (bank statements, telephone receipts, etc., which have been paid) of the directors and shareholders of the Company in the past three months.
The registration takes only 5 working days, but the delivery time is about 2-4 working weeks.
In addition to paying a business license renewal fee to the government every year, international business companies are not required to pay any other taxes. The company that fails to pay on time on the due date will be fined. If it fails to pay five months after the payment date, the company will be closed by the government. The Company is not required to submit the Company's account books or make annual declaration every year, nor to hold a general meeting of directors every year.
Registration fee
1) * Establishment expenses*
Including: government fees+agent service fees
2) * Annual fee*
Including: government fees+agent service fees
List of contents of file boxes obtained by customers after company registration
1. Certificate of Incorporation;
2. Appointment by the Subscriber of the First Director;
3. Sole Directors' Resolution (minutes of the first board meeting);
4. Consent to Act;
5. Register of Directors
6. Share Registers;
7、 Two original and six copies of the Memorandum and Articles of Association
(Memorandum and Articles of Association of the Company - 2 originals and 3 copies);
8. Ten blank share certificates (several blank shares);
9. Clean Letter (the company has no operation certificate);
10. Corporate Chop and Seal;
11、 An original filed translator certificate if the Company was
Incorporated with Chinese name
(Source: Brother K chats about going to sea)
