Businesses that want to legally expand their activities and at the same time avoid additional tax burdens prefer to register their companies offshore. The British Virgin Islands (BVI) are one of the most significant offshore regions due to their relaxed requirements for company registration and foreign investors. Find out the most effective way of BVI company formation and the benefits you will receive from this.
Advantages of Registering a Company in BVI
- If you operate outside the British Virgin Islands, you will not have to pay income tax.
- High level of confidentiality for company founders, shareholders, and beneficiaries.
- Ease of business management due to the absence of high reporting requirements.
- High speed of opening a business, which takes about a week.
- A regulator does not have requirements for a minimum amount of authorized capital.
- Possibility to register a company remotely, without the personal presence of the founders.
Stages of Registering an Offshore Company in the BVI
- Preliminary stage. Assessing the company’s business, determining long-term goals, and choosing a name.
- Preparation of documents. Compiling such documents as the founders’ agreement, office address information, information about the company’s shareholders, etc.
- Payment of fees required by authorities.
- Submitting an application to the state registrar.
- Receive documents on registration and ownership of the company within a few days.
Why You Need Legal Help When Registering a Company in the BVI
In recent years, requirements for offshore jurisdictions have become more stringent. This does not apply to all types of businesses, but if your company operates in the fields of finance, banking services, insurance, etc., the procedure for registering a business will be more complicated. Also, if you want to obtain a license to conduct a certain type of activity, this will add paperwork.
To navigate the intricacies of laws, amendments, and exceptions, you will need professional legal assistance. Fintech Harbor Consulting LTD has been registering businesses in the British Virgin Islands for many years and is well aware of the procedure, as well as all the novelties adopted in recent years. By turning to the help of the company’s specialists, you will receive the fastest possible registration without any complications.
