Company Formation in British Virgin Islands

Top 5 Advantages of company registration in British Virgin Islands

1. Companies are exempt of any form of taxation
2. Optional registration of members and directors
3. The #1 offshore jurisdiction in terms of number of companies registered
4. No reporting to any administration
5. Economic substance requirements designed to set a legit company in a beneficial jurisdiction

Roadmap

How long does it take to register a Company in British Virgin Islands?

• 2-5 working days
• Can be done remotely in one week

What are the steps to register a company in British Virgin Islands?

The registration process of a company in Company Formation in British Virgin Islands is very simple. The experts of LegalBison will assist you throughout every step of it:

1. Initial consultation and agreement
2. Payment of the full invoice
3. [IF REMOTELY]: Notarization of POA by client
4. Preparation of registration documents
5. Document signed at the notary
6. Official register validity: immediately

Taxes

How high are the corporate income tax in British Virgin Islands?

There are no corporate income tax levied on companies registered in the BVI.

For a company registered in the BVI, an exemption applies to:

• all dividends
• interests
• rents
• royalties
• company compensations
• capital gains realised with respect to any shares, debt obligations or other securities of a company

What Double-tax treaties has British Virgin Islands?

The British Virgin Islands don't have double taxation agreements.

Tax information exchange agreements (TIEA) are enforced with the following countries:

Aruba, Australia, China, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Iceland, Ireland, Netherlands, Netherlands Antilles, New Zealand, Norway, Portugal, Sweden, United Kingdom, United States

Decide first

1. Do you want to buy a ready-made company or start a new one?
2. Do you want to deposit a share capital?
3. What will be the economic substance of the company in BVI?

Documents to provide for company registration in British Virgin Islands

• Passport copies (a scan) of all individuals above, also beneficiary owner if applicable
• A Power of Attorney (in case of a remote company registration)
• Certified company documents (in case at least one of the shareholders is going to be a foreign company)

Information needed to get company registration in British Virgin Islands

• 3 options of your desired name for the company and a company contact email address
• Names, addresses and emails of all shareholders and board members
• Short description of your companies’ activity

Remote incorporation

• The whole incorporation process can be conducted remotely. No travel necessary. Notarization of documents is necessary
• A Power of Attorney (POA) from (all) partners is needed
• The POA is sent to you by us based on the services you want
• You have to certify the POA by a notary and in some cases legalize it by apostille (some countries need full legalization)
• Once you have the POA on your hands, we double-check, and you send us the original form (physical document!) via courier to our address
• The British Virgin Islands are part of the Hague Convention of the Apostille

Accounting and auditing

• No accounting nor auditing is required for a BVI company
• Companies are encouraged to hold financial statements, meetings minutes and records, but nothing is to be reported to the BVI administration
• A BVI company shall still hold a record of its directors, shareholders and members, into its registered office

Residential requirements

What are the residential requirements in British Virgin Islands?

• All companies in the British Virgin Islands are required to have a registered address
• Shareholders and directors are not required to reside or travel to the British Virgin Islands

Important: a BVI company needs to have economic substance. This implies the following:

• the activities are conducted and managed in the Virgin Islands
• has physical offices, employees and expenses in the BVI, suitable for the company's activity
• its core income generating activity is carried out within BVI

LegalBison offers help with all of the above requirements. We assist and are local on ground. Speak now for free with one of our consultants to get your business started.

FAQs about company registration in British Virgin Islands