Typical Uses for British Virgin Island Companies Worldwide

BVI adopted its offshore statute in the year 1984 to allow International Business Companies to incorporate in the territory. In 2004 it updated its statutes and launched the BVI Business Company.  Its solid regulatory structure, dependable government, modern offshore legal structure, and accommodating business procedures attracted many companies. A BVI Business Company can be incorporated quickly, with a flexible organizational structure and minimal financial reporting requirements. BVI companies are ideal for startup companies as they can be operated from anywhere in the world and there are no restrictions on where a BVI company can carry out its business.

Nearly 41% of offshore companies worldwide have been formed in the British Virgin Islands, making the BVI one of the world's leading offshore financial centers. Today, there are over 400,000 active companies in the BVI and it remains one of the most popular corporate registration sites.


Typical Uses of the BVI Company
 
BVI’s International Business Company Act essentially allows an incorporated company to participate in any type of business (of course, provided such is not illegal under local laws).   Some of the most common uses include:

  • Trading:  a company that focuses on importing or exporting, sales, and/or distribution of goods would enjoy a tax-free environment.  It could also invest its profits into its business without excess tax liability.  
  • Holding:  a business that holds personal and corporate subsidiary shares (including intellectual property rights) for non-residents could save legal fees (probate, transfer, levies) and taxes, including inheritance and capital gain taxes.  
  • Shipping:  an offshore shipping company could effectively eradicate shipping taxation.   
  • E-commerce:  entities that set-up an e-commerce business can utilize multi-currencies,   offshore bank accounts, and acquire exposure in the global market.  They’ll also earn higher investment returns and high-end tax advantages.  
  • Asset Protection:  BVI is a popular trust establishment jurisdiction.  Trusts  protect assets and allow for effective succession planning.  Trusts protect the settlors and beneficiary confidentiality, are not subject to probate, and are tax exempt.  

 


Typical Incorporation Requirements

A business or individual seeks company Incorporation service in BVI must utilize a licensed and registered agent. BVI Registered Agent are licensed by the BVI Financial Services Commission who can help you to get the process done.

Standard Due Diligence requirements include:

  • Completed Application Form
  • Notarized or Certified passport copy
  • Notarized or Certified Proof of address
  • Source of Funds Declaration
  • Bank or Professional Reference

CCP Financial Consultants Limited

CCP Financial Consultants Limited (CCP) is a BVI based, multidisciplinary financial solutions firm dedicated to providing premium financial solutions to clients around the world.

CCP can guide you through and assist you with the incorporation  of a BVI Business Company.  

Please visit the website for more details of our full range of services and, if required, you can schedule a consultation for more information.

 

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