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BVI Corporate Formation

Update Date:2015-9-17 10:00:17 Source:Tannet (Malaysia) Sdn Bhd Views:727

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The British Virgin Islands (BVI) is a group of islands in the Caribbean Sea located approximately 80 kilometers east of Puerto Rico. The BVI is a British Dependent Territory which became self-governing in 1967 and is a member of the British Commonwealth. Since introducing its International Business Company (IBC) legislation in 1984, the BVI offshore financial services sector has developed, and is now the world's most popular offshore centre with around 700,000 companies incorporated. The newly enacted BC Act should further enhance the jurisdictions popularity.


BVI Corporate Formation - Advantages

1.BVI has very stable political, economical and trading environment.   

2.BVI has sound financial and juristic facilities and can set up the foundation and financial organization conveniently.

3.The government protects interests of the shareholders, not publicizing the status of the beneficiary.

4.In order to encourage economic development and absorb foreign capital, the local government allows one person to own a company completely.

5.Low tax rate. Very few tax controls are granted to international limited companies in isles.

6.Profits gained in other places of operation without paying tax and tax can be avoid reasonably by triangle  trading mode.

7.No need of reports of auditor and debt return.


BVI corporate formation - Company Name

We are free to make a choice of companies’ names which can include the wording such as international, group, industry, investment, college, association and so on. The company name must end with one of following words“Limited, Ltd.,Corporation , Incorporated, Societe Anonyme ,Sociatedad Anonima”. In order to attract Chinese investors, BVI government allows applicant to register the Chinese company name. The Chinese name can be revealed in the Certificate of incorporation. We will charge RMB 1,000 for the Chinese name including the name search in advance (name search will take one to two days).


BVI corporate formation - Standard registered capital 

The standard registered capital is 50,000 shares according to the new corporation law which issued in 2006.


BVI corporate formation - Directors & Shareholders

At least one or more than one directors and shareholders is required for establishment of the company in BVI. The directors and shareholders can be the same person. The shareholder can act as the natural person or the legal person. If the shareholder acts as the natural person, the person must be one who is more than 18 years old and holds passport or ID. Before incorporation, list of shareholder, director, chairman of the director and the proportion of their shares are to be confirmed.


BVI corporate formation - Registered address 

The government stipulates that every limited company should have the registered address in BVI. The registered address can be provided by TANNET if needed.


BVI corporate formation - Business scope 

In principle there is no limitation for the company business scope. The operation which enterprise can carry on includes finance and investment, the medical health care, the import & export trade, the real estate, the architecture, the information network, the clothing spinning and weaving, the traveling and so on.


BVI corporate fromation - Bank account opening

BVI Company can open the bank account outside BVI. This kind of bank account is known as offshore bank account. We can provide service for bank account opening arrangement in Hong Kong, Shanghai, Malaysia, Singapore, Liechtenstein and other areas. Our company can provide the whole set of opening bank service including: recommending the bank/ preparing the bank account opening document (certified true copies)/meeting minutes/application form/ arranging the introducer.


BVI corporate formation - Low maintenance fee

The fee fluctuates according to the government fee. Because it is a offshore company which do not carry out actual business operation, the tax return is not required. The time of license renew is divided into two situations: the company registered during the January to June should carry out the annual license renew before May 1st while the company registered during July to December should submit before November 1st every year.

 

BVI corporate formation - Procedures and Documents

The following documents are required to incorporate a BVI company:

Company name; information and identity certificate of director &shareholder (duplicate copy of passport or ID)

Fill in the application form→sign the agreement in person→pay the deposit→transact in the government

→finish within 10-15 working days→All the director sign the legal document in person→submit the document to BVI government to file→pay the spare money.  (If you buy the shelf company only need 3 working days but will charge more RMB500 than the new company)


Tannet Malaysia is an International Consultant Firm based in Hong Kong, Shenzhen. We do have over 10 branches in China and We believe Tannet would be your best choice for your oversea Investment. Kindly contact us for more information on our other services!


Contact us:

If you have further queries, please contact Tannet

Malaysia hotline:603-21418908;

Hong Kong hotline:852-27837818;

Shenzhen hotline:86-755- 36990589;

Email: mytannet@gmail.com

TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my

 

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