Malaysia Hotline: +603- 2141 8908
The
British Virgin Islands (BVI) is a group of islands in the Caribbean Sea located
approximately 80 kilometers east of Puerto Rico. The BVI is a British Dependent
Territory which became self-governing in 1967 and is a member of the British
Commonwealth. Since introducing its International Business Company (IBC)
legislation in 1984, the BVI offshore financial services sector has developed,
and is now the world's most popular offshore centre with around 700,000
companies incorporated. The newly enacted BC Act should further enhance the
jurisdictions popularity.
Advantages
of BVI corporate formation
1.BVI
has very stable political, economical and trading environment.
2.BVI
has sound financial and juristic facilities and can set up the foundation and
financial organization conveniently.
3.The
government protects interests of the shareholders, not publicizing the status
of the beneficiary.
4.In
order to encourage economic development and absorb foreign capital, the local
government allows one person to own a company completely.
5.Low
tax rate. Very few tax controls are granted to international limited companies
in isles.
6.Profits
gained in other places of operation without paying tax and tax can be avoid
reasonably by triangle trading mode.
7.No
need of reports of auditor and debt return.
Company
name for BVI corporate formation
We are
free to make a choice of companies’
names which can include the wording such as international, group, industry,
investment, college, association and so on. The company name must end with one
of following words“Limited, Ltd.，Corporation , Incorporated,
Societe Anonyme ,Sociatedad Anonima”. In order to attract Chinese investors,
BVI government allows applicant to register the Chinese company name. The
Chinese name can be revealed in the Certificate of incorporation. We will
charge RMB 1,000 for the Chinese name including the name search in advance
(name search will take one to two days).
Standard
registered capital for BVI companies
The
standard registered capital is 50,000 shares according to the new corporation
law which issued in 2006.
Directors
& Shareholders of BVI companies
One or
more than one directors and shareholders is required for establishment of the
company in BVI. The directors and shareholders can be the same person. The
shareholder can act as the natural person or the legal person. If the
shareholder acts as the natural person, the person must be one who is more than
18 years old and holds passport or ID. Before incorporation, list of
shareholder, director, chairman of the director and the proportion of their
shares are to be confirmed.
Registered
address of BVI companies
The
government stipulates that every limited company should have the registered
address in BVI. The registered address can be provided by TANNET if needed.
Business
scope of BVI companies
In
principle there is no limitation for the company business scope. The operation
which enterprise can carry on includes finance and investment, the medical
health care, the import & export trade, the real estate, the architecture,
the information network, the clothing spinning and weaving, the traveling and
so on.
BVI
bank account opening
BVI
Company can open the bank account outside BVI. This kind of bank account is
known as offshore bank account. We can provide service for bank account opening
arrangement in HONGKONG, SHANGHAI, Malaysia, Singapore, Liechtenstein and other
areas. Our company can provide the whole set of opening bank service including:
recommending the bank/ preparing the bank account opening document (certified
true copies)/meeting minutes/application form/ arranging the introducer.
Low
maintenance fee for BVI companies
Every
year about USD800 is required for the annual license fee. This fee fluctuates
according to the government fee. Because it is a offshore company which do not
carry out actual business operation, the tax return is not required. The time
of license renew is divided into two situations: the company registered during
the January to June should carry out the annual license renew before May 1st
while the company registered during July to December should submit before
November 1st every year.
Easy
procedures and documents needed for BVI corporate formation
The
following documents are required to incorporate a BVI company:
Company name;
information and identity certificate of director &shareholder (duplicate
copy of passport or ID)
Fill in
the application form→sign
the agreement in person→pay
the deposit→transact in the government
→finish within 10-15 working days→All the director sign the legal
document in person→submit the document to BVI
government to file→pay the spare money. (If you buy the shelf company only need 3
working days but will charge more RMB500 than the new company).
Contact
us
If
you have further queries, please contact Tannet
24
hours Malaysia hotline：603-21418908;
24
hours Hong Kong hotline：852-27837818;
24
hours Hong Kong hotline：86-755-
36990589;
Email:
mytannet@gmail.com