The key features of a British Virgin Islands (BVI) Company Registration are:
- BVI companies can be transferred within a maximum of 48 hours
- A BVI company requires only one person to serve as both the director and shareholder
- You do not need to be a resident in the BVI to become a director or shareholder
- You can transfer BVI companies without the need for a physical visit.
- BVI companies have no annual accounting requirements
- Companies can conduct business internationally
- BVI companies are exempted from Local taxes and stamp duty are for BVI companies
- A BVI company requires paying only one annual renewal fee
The British Virgin Islands are one of the oldest and most respected offshore financial centres in the world, commonly known as the BVI. The BVI is a British overseas territory located to the east of Puerto Rico in the Caribbean, to the North of the Island lies the North Atlantic Ocean and to the South Lies the Caribbean Sea.
The most common BVI Company type in is an International Business Company (IBC).
Companies are incorporated in the British Virgin Islands (BVI) under the BVI Business Companies Act (2004), as amended.
Company Formation
What is company formation
Company formation is the process of legally incorporating a business as a limited company, known also as company incorporation and company registration. Company Formation is the leading company formation agent specialising in forming companies both in the BVI and Worldwide.
What is a Limited Liability company
A limited company is a business structure that is legally separate from its owners – usually the shareholders and subscribers. The main benefit of forming this entity is to enjoy the status of ‘limited liability’, which means the owners are not personally liable for the financial losses of the business. Other benefits are enhanced corporate image, tax efficiency, investment and lending opportunities, and ease of selling the business.
How long does it take to form a company?
Companies can be formed within 48 hours (subject to receipt of all compliance information).
What documents do I need to form a company?
To set up a limited company, you simply need a company name, the business activity of the company, a registered office address in the BVI, and the details of the company directors, shareholders and Persons with Significant Control (PSC). The beneficial owners of the company, those owning over 25% of the issued shares, may also be required to provide proof of ID and address.
Do I need a business bank account?
It is not a legal requirement for a BVI registered company to have a business bank account; however in practice, you will find it extremely hard to operate a business without its own bank account. We offer various business bank accounts with all company registration, both in the BVI and internationally.
How easy is it to close my company?
The process to dissolve your company is quick and straightforward. We can deal with this on your behalf, every step of the way.
Registered Office / Virtual Office / Physical Office
What is a Registered office?
A Registered Address is the legal address of your Company where all mail is scanned and emailed to you for free. In addition, this address is used to receive all official correspondence for your Company.
Do I need a Registered office?
Yes. All BVI Companies require a registered office which is used on all Company paperwork and other correspondence, including your website. This also means that your home address is not publicly visible, so affords you a level of security and anonymity.
Can I use an address outside of the BVI?
Unfortunately not. The Registered Office must be within the BVI and therefore we can supply this address to you.
We have a large stock of Readymade and Shelf Companies in the BVI and Worldwide to fit the needs and requirements of your business through our dedicated team at Shelf Company EU or contact us here.
