BVI Company. BVI Company Formation.

KGN Services specializes in BVI company registration and opening bank accounts.

Overview

The British Virgin Islands, or BVI for short, is a group of fifty islands in the Caribbean forming a British Overseas Territory. The main islands within this group are called Tortola, Virgin Gorda, Anegada and Jost Van Dyke. They have been autonomous from Britain since 1967. While the official name is the Virgin Islands, they are usually called the British Virgin Islands to separate them from the nearby American Virgin Islands.

BVI (British Virgin Islands) – General Information

Location: Caribbean, between the Caribbean Sea and the North Atlantic Ocean, east of Puerto Rico.

Area: total: 151 sq km, land: 151 sq km, water: 0 sq km, comprised of 16 inhabited and more than 20 uninhabited islands; includes the islands of Tortola, Anegada, Virgin Gorda, Jost van Dyke. …

Natural resources: NEGL; pleasant climate, beaches foster tourism.
Population: 35,015 (July 2017 est.).

Capital: Road Town 15,000 (2018).

Time Zone: UTC−4.

Languages: English (official).

Government type: Parliamentary democracy (House of Assembly); self-governing overseas territory of the UK.

Legal system: English common law.
 
International organization participation: Caricom (associate), CDB, Interpol (subbureau), IOC, OECS, UNESCO (associate), UPU.
 
Economy: The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism, which generates an estimated 45% of the national income. Because of traditionally close links with the US Virgin Islands, the British Virgin Islands has used the US dollar as its currency since 1959. Livestock raising is the most important agricultural activity; poor soils limit the islands’ ability to meet domestic food requirements.
In the mid-1980s, the government began offering offshore registration to companies wishing to incorporate in the islands, and incorporation fees now generate substantial revenues. The adoption of a comprehensive insurance law in late 1994, which provides a blanket of confidentiality with regulated statutory gateways for investigation of criminal offenses, made the BVI even more attractive to international business.

Currency: US dollar.

Advantages of BVI Company Registration

Forming a company in the British Virgin Islands means setting up a so-called BVI Business Company or BVI BC. These are the most popular form of offshore companies in the world. They are available to residents of any country in the world and can be formed as a continuation of another company in another part of the world. There are many benefits to a BVI BC:

BVI Company Formation – Legislation

Principal Corporate Legislation

The BVI Business Companies Act, 2004 (“the Act”) as amended.

Type of Law

Common.

Language of Legislation and Corporate Documents

English.

Type of Entity for International Trade, Investment & Tax Planning

BVI BC (Business Company).

Key Facts

Share Capital

There is no concept of authorised share capital in the Act. Standard authorised share capital is US$50,000. Minimum paid up share capital is US$1.

Classes of Share Available

Registered shares, shares of no par value, bearer shares, preference shares, redeemable shares and shares with or without voting rights. Bearer shares will be subject to anti-money laundering and due diligence obligations and a company which is authorised to issue bearer shares pays higher incorporation and annual fees.

Bearer Shares

Permitted.

Restrictions on Trading

A BVI Offshore Company cannot trade within the British Virgin Islands or own real estate there. Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Agent Required

Each BVI Company must have a Licenced Registered Agent.

Registered Office Required

Each BVI Company must have a Registered Office, provided by a Licenced Registered Agent.

Directors

A BVI Company requires a minimum of one director. Director can be of any nationality and need not be resident in the British Virgin Islands. Corporate directors are permitted.

Shareholders

A BVI Company requires a minimum of one shareholder.

Publicly Accessible Records

No.

Nominee Shareholders and Nominee Directors

Allowed.

Location of Meetings of Directors and Shareholders

Anywhere.

Personal Presence Required

No.

Taxation

Nil.

Double Taxation Treaty Access

None.

Requirements to File Accounts

None.

Requirement to File Annual Return

None.

Audit Requirements

None.

Exchange Control

None.

Time to Incorporate

Two days.

BVI Company Formation – Name of a Company

Language of Name

English.

Restricted Words

Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust”, “Trustee” etc. will require justification.

Name of a Company

The words “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”, “Sociedad Anonima” or Ltd, Corp., Inc., S.A. must be part of the name.

BVI Company Registration Prices

BVI Company Registration Package Includes:

Starting at: $1690

+ $450 Government Fees

Why Choose KGN Services?

We’ve been helping business owners since 1996

Incorporating your business is our focus

We make a complex process fast and easy

We work closely with Companies Registries to guarantee our service

Fastest offshore companies & accounts – Most competitive pricing worldwide

Services related BVI Company Registraion

KGN Services provides the following services related BVI Company Registration:

KGN Services | BVI Company Formation | BVI IBC | BVI Company

Tags: BVI company formation | BVI company registration | BVI IBC

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KEY OFFSHORE JURISDICTIONS

Latin America and the Caribbean

Europe

Middle East

Africa

Asia Pacific

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Requirement to File Annual Return

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