BVI Company

BVI Company refers to an offshore company incorporated in the British Virgin Island (BVI) which is an offshore jurisdiction. BVI company formation is easily done in the tax haven by registered agents. The individual forming the BVI Company must employ a registered agent in the jurisdiction to complete offshore company formation. The BVI Company has many advantages including tax exemptions, privacy and a flexible structure.

All companies registered n the BVI as offshore companies can operate in any country in the world. The BVI Company is prohibited from doing business in the British Virgin Islands or with residents of the country but this is as far as prohibitions go for this offshore company. BVI companies make excellent trading companies for this reason each year thousands of BVI companies are registered to be used as trading companies outside of the offshore jurisdiction. BVI companies can also be used as holding companies and for many other purposes. BVI companies which are to be used for providing financial services must first obtain a special license from the authorities in the BVI. A BVI offshore company can only legally carry out the business operation which it has been licensed to carry out.

The BVI Company is a tax exempt company. The BVI company legislation makes it possible for the BVI offshore company to be a tax exempt entity from the day of incorporation. What this means is that the BVI Company will pay no local BVI taxes on any capital which the company has generated outside of the British Virgin Islands. Tax exemptions will be received from the following local taxes; income tax, capital gain tax, withholding tax, corporate taxes, inheritance tax and others. An offshore company incorporated in the BVI will have an obligation to pay a registration fee and an annual license renewal fees if that company is to remain in Good Standing order.

Asset protect is a characteristics of a BVI company. All assets are owned by the BVI Company and not an individual and this makes it harder for individual who go after the asset of a BVI company. An important attribute of BVI legislation is the privacy which it allows offshore companies. The names of the directors and shareholders of BVI companies do not appear on any public record in the offshore jurisdiction. BVI companies do not file annual financial audits or reports in the jurisdiction making this very private.

BVI company formation regulation requires a minimum of one company shareholder and one director for company formation in the British Virgin Islands. The same individual can be the shareholder and director. Corporate shareholders and directors can be appointed to BVI offshore companies and there are no nationality restrictions in place for forming BVI companies. The cost of BVI offshore company formation is very affordable and offshore registered agents in the tax haven provide professional services in a timely manner ensuring that BVI companies are incorporated with efficiency. The BVI offshore company is one of the most popular offshore companies which is available.