British Virgin Islands
British Virgin IslandsISTOCK

BVI company registration

BVI company registration is one of the most popular jurisdictions. They attract businessmen from all over the world due to tax benefits, confidentiality, and ease of doing business.

Why choose the British Virgin Islands for company registration?

The BVI offers several significant advantages:

  • Tax benefits: There is no income tax, capital, inheritance or dividend taxes in the BVI. This makes the country attractive to international businesses.
  • Confidentiality: In the BVI, there is no need to disclose information about the beneficial owners of companies. Shareholders and directors can remain anonymous.
  • Flexibility in management: One director and one shareholder are enough to register a company. There are also no requirements for the residence of directors.
  • Transparent legal system: Based on English common law, the BVI legal system provides a high degree of safety and security for business owners.
  • Fast registration: The process of registering a company in the BVI takes only 2-5 business days.

Types of companies to register in the BVI

In the BVI, the main type of company is the International Business Company (IBC), which is ideal for international trade, investment and holding structures. The following forms are also available:

  • Limited Liability Company (LLC): For businesses with limited liability.
  • Public Company: For companies wishing to issue shares on the market.
  • Trusts and Foundations: For asset management and estate planning.

Steps of company registration in BVI

The process of registering a company in the BVI involves several steps:

  • Choosing a company name

The company name must be unique and not duplicate already registered companies. It must also meet the requirements of the jurisdiction.

  • Appointment of directors and shareholders

At least one director and one shareholder, who can be both individuals and legal entities. There are no requirements regarding their place of residence.

  • Appointment of registered agent and address

The company must have a registered agent and a registered office address in the BVI, which will be used to receive official correspondence.

  • Preparation of constituent documents

To incorporate a company, the following documents must be prepared:

  • Memorandum and Articles of Association.
  • Identification of directors and shareholders.
  • Proof of the local address of the registered agent.
  • Registration of the company

After the documents are prepared and submitted, the registration authority checks the application and, if approved, issues a certificate of incorporation.

  • Obtaining licenses (if required)

Some types of activities, such as financial services, require a license. Licensing is regulated by the BVI financial authorities.

Cost of company registration in the BVI

The cost of incorporating a company in the BVI depends on several factors, including the structure of the company and the additional services chosen. The main costs are:

  • Registration fees: Government fee for filing the application.
  • Registered agent services: Required for filing documents and receiving correspondence.
  • Annual fees: The amount that must be paid annually to maintain the company's registration.
  • Additional costs: These may include bank account opening, legal and accounting services.

Conclusion

The British Virgin Islands is a great place to incorporate a company due to its tax benefits, privacy and flexibility. The incorporation process is simple and fast, and the legal system provides reliability and protection for businesses. A company in the BVI can be used for international trade, investment and holding structures.