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2022-06-15 |
【4 mins Read】OneStart Weekly - BVI Company Formation

Company Formation (Global) – BVI Incorporation

British Virgin Islands – BVI, might sounds a bit like a foreign nobody land that only birds and fishes will be your clients. However, remote this name sounds, the advantages of incorporating in BVI is even better than you can imagine. There has been an increasing popularity among investors to establish their business in these remote islands in BVI. What can company formation in this mysterious destination offer you? Let’s find out!

At first glance, the name British Virgin Islands, BVI, might sounds like a name of the places, where criminals in all those Hollywood Blockbusters would choose to hide or incorporate their offshore company. However, you can be rest assured, BVI is no such place. Incorporation in BVI, is 100% legal. Incorporating a BVI company is just the same as company formation in HK domestically. The only difference is the excessively attracting advantages of owning a BVI company can offer you.

Forming a BVI offshore company gives you a long list of advantages that you can find nowhere else. When you form a BVI company, you will be able to enjoy a total absence or minimum levels of taxation. Generally talking, BVI company is not subjected to income tax, corporation tax, capital gains tax, wealth tax or similar fiscal laws. These could have been a great barrier in reducing the flexible capital in your hand during business. But then now, if you are choosing over company formation in BVI, your business in the BVI will grant you entrance to a tax haven. The substantial tax in BVI is set at a level which will benefits international businesses, in order words, the BVI company you are going to incorporate.

Under such developed financial system, which would maximize business benefits for the foreign investors, incorporation in BVI has been a recent popular option. Well-known as an "offshore financial center", BVI's financial system has minimal restrictions, simplified and fast company registration procedures, flexible corporate regulations, confidentiality provisions in limiting publicly available corporate information, and a minimal accounting and book-keeping requirements. The list might be long, but those are all the benefits you can gain to incorporate as a BVI company.

Apart from the stability of governance, a BVI company do not require submission of your annual returns, or the audit and account reports. There is no need to appoint a company secretary, or disclose the identity of the directors. You can even use a Chinese name for your company!

 

There might still be worries over crooks and money-launders in such haven. But in fact, BVI like other tax havens, has put forward regulations for maintaining a clean reputation. Their financial system can detect and prevent financial criminals and money-launders, so you can be rest-assured and be burden-free while incorporating your BVI company.

So now, after all the talk over how wonderful it would be to incorporate a BVI company, how could you really do that? 

This is when accredited professional business centers like OneStart Business Centre can interfere and guide you through. Upon receipt of the offered documents and payments, at OneStart Business Centre, we can help you to progress the required procedure generally within 20days. There might be possible delay, due to recent covid pandemic, or a more in-depth checking over the documents by the BVI registrar. To establish your BVI company, it is required from you that:

  • A statutory registered capital of $50,000
  • A minimum of one director and shareholder (can be the same person)
  • Director / shareholder’s identification documents
  • Director / shareholder’s three months valid proof of address

Your BVI company could be incorporated as a company limited by shares, a company limited by guarantee (with or without authorization to issue shares), an unlimited company (with or without authorization to issue shares), a segregated portfolio company and a restricted purpose company. Depending on the types of company you wish to incorporate in BVI, the required documents might differ slightly a little bit. But worry not! If you are choosing to incorporate your BVI company through OneStart Business Centre, we will have that covered. Our BVI company formation services include but not limited to the followings:

  • Certificate of Incorporation
  • Local registered address BVI
  • Agent fees
  • Government first year license fee
  • Company policy
  • Company seal
  • Stock book

 

Upon request and additional payments, OneStart Business Centre can also help you to prepare the six-months effective membership certificate (Incumbency), and a full set of documents to be registered to do forensic accountant (identified by the Division I).

After sending out you documents to OneStart Business Centre, and receiving a notification of receipts from the BVI registrar later, your BVI company will be incorporated in no time! Although the name of British Virgin Islands sounds distant, but a setting up a BVI company and registering for it is much easier than you think. With a bit of professional help, the process can be even faster! So, if you are moved by the advantages of incorporation as a BVI company, dial in to ask our helpful consultants and know more about the good values of company formation in BVI!

Interested in OneStart Business Centre’s Company Formation Services? Phone in to our hotline 3575 6888 or WhatsApp our helpful consultants!