The British Virgin Islands (BVI), are a British overseas territory located in the Caribbean to the east of Puerto Rico and consist of the main islands of Tortola, Virgin Gorda, Anegada, and Jost Van Dyke, along with over 50 other smaller islands and cays.
The below content will explain to you in detail about the requirements for company formation in BVI, the process of trademark registration in BVI and understand the BVI Legal compliance requirements.
Company Incorporation in British Virgin Islands
Doing Business Introduction
The Country has a prosperous economy with an opaque banking system. The Economy is dependent on tourism and financial services. It is heavily dependent on migrant workers, and over 50% of all workers on the islands are of a foreign descent.
Synergy professionals can assist its clients with any type of company formation in BVI, trademark registration in BVI and other recurring services for your business in BVI.
Incorporation – Business Entities
Before starting the business, the first decisions to make is to determine what form of business entity to establish. There are several types of entities that can be incorporated in BVI are as mentioned below:
- Companies limited by shares
- Companies limited by guarantee
- Companies limited by guarantee authorised to issue shares
- Unlimited companies with or without shares
- Restricted purposes companies (or SPVs)
- Segregated portfolio companies (or SPCs)
Time Frame for Incorporation of Company in BVI varies from depending on the type of entity selected and each business type has its own advantages and disadvantages. We estimate the time required for the process of company formation in BVI to be 4-6 working days.
Benefits of Company Registration
Below are the advantages of company formation in BVI:
- No longer requires a company to have a share capital.
- BVI company may acquire the shares of a member
- BVI company may give assistance to a third party to acquire its shares
- BVI company may migrate to or from another jurisdiction that permits corporate migration
- No additional layer of tax and regulation
- Can list their shares on stock exchanges worldwide
- Administrative simplicity and the ability to ring-fence liabilities
|Under BVI law, foreigners||Can Own 100%|
|Minimum Share Capital||Zero|
|MOA and AOA||Required|
|Expatriate Staff||Can Be Hired|
|Tax Registration||Certificate Required|
|Timeframe for Bank Account||2 weeks|
|Timeframe for Incorporation||1-2 weeks|
|Access to BVI Double Tax Treaties||Yes|