British Virgin Island
An overseas territory nestled on the east of Puerto Rico, British Virgin Islands (BVI) is famed as the world’s leading offshore incorporation center with over a million BVI companies operating in the jurisdiction since 1984. There are a host of factors which contribute to BVI’s attractiveness as an international business incorporation centre. These include its economic prosperity, progressive regulatory regime, business friendly environment, tax exemption policies and a history of political stability. As a result, establishing a BVI company is one of the most lucrative options for international entrepreneurs and investors who intend toincrease their business footprint. Incorporated under the BVI Business Companies Act 2004, these companies are commonly known as “Business Companies”, and can carry out business activities with non-residents of BVI.
There are various other factors that encourage foreign entrepreneurs and investors to establish a company in British Virgin Islands. These are as follows:-
Efficient Incorporation Process
In general, a BVI company incorporation process can be completed within 3 to 5 working days. Additionally, business setup in British Virgin Islands is extremely cost effective in comparison to other offshore jurisdictions of the world.
Different Types of Incorporations
Apart from being cost effective with an easy setup process, incorporation in British Virgin Islands allows maximum flexibility in respect to the type of company that may be established. A BVI company can be:-
- A venture limited by shares or by guarantee (with or without an authorization to issue shares)
- an unlimited company (with or without an authorization to issue shares),
- a restricted purpose company, or
- a segregated portfolio company
A BVI company is a flexible form of legal entity that has the liberty of carrying out a wide range of business activities in and outside the geographical boundaries of British Virgin Islands. Furthermore, a BVI company requires a single director or shareholder, either of which must be a corporate body, and the same corporate body or individual must serve as both sole shareholder and director. Additionally, there is no restriction on either of them to be a resident of the British Virgin Islands. A BVI company is also not required to file any annual returns, financial statements, or maintain any records.
BVI companies enjoy utmost privacy and confidentiality. There is no public record of the identity of directors or shareholders; however, a copy is filed with the company’s registered agent. This ensures complete confidentiality of the company’s information. Nominee services for directors and shareholders may be employed to ensure the confidentiality of the beneficiaries.
BVI companies enjoy great tax benefits. They are exempted from income tax and the same applies to all rents, royalties, dividends, compensations, and other amounts paid by the business. No inheritance, real estate or succession or gift tax is applicable with respect to any debt obligations, shares or other securities.
Shares and Capital
- No minimum authorized capital requirements.
- 100% ownership with no requirement of a local national for company establishment.
- Shares can be easily transferred from one shareholder to another.
- A BVI Business Company can issue bearer shares which must be deposited with a licensed custodian along with a written statement of the identity and address of the actual shareholders.
- 100% repatriation of capital and profits
Services offered by Jumeira Consultants
At Jumeira Consultants, we offer BVI company establishment services to our clients with complete assistance throughout. Housing a team of qualified experts who possess years of experience in the field of company formation in British Virgin Islands and other international destinations, we can easily help you set up an offshore company in BVI quickly and easily. If you are planning to establish an offshore business in British Virgin Islands, Seychelles or any other international destination, and wish to know more about the offshore companies, setup formalities and procedures, contact us today.