Malaysia Hotline: +603- 2141 8908
British
Virgin Islands (BVI) Corporate Formation is the term for the process of
registration of a business in BVI. It is also sometimes referred to as company
formation. 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, economic
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 word “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 RMB1,000 for the Chinese name including the name checking in
advance.(name checking will need one day)
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 when establish the company
in BVI. The directors and shareholders can be the same one person. The
shareholder can be also acted by the natural person or the legal person. If the
shareholder is acted by the natural person, the person must be more than 18
years old who has the passport or ID. Before incorporation, you must confirm
the list of shareholder, director, chairman of the director and the proportion
of their shares.
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 the
offshore bank account. We can provide the professional service for opening bank
account in HONGKONG, SHANGHAI, Malaysia and other areas. All the directors must
go to bank to sign the documents in person. Our company can provide the whole
set of opening bank service including: recommend the bank/ prepare for the
opening bank document (certified true copies)/meeting minutes/application form/
arrange the introducer/ accompany to open the bank account. Please prepare all
the needed documents before opening the bank account and with cash about
RMB8,000-10,000 to deposit in the new account. Our service fee is RMB2,800.
Low maintenance
fee for BVI companies
Every
year about USD800 is required for the annual license fee. This fee will
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
TANNET GROUP : http://www.tannet-group.net, http://en.tannet.com.my