How will Economic Substance Act affect your BVI company?

Certain BVI companies carrying on relevant activities and not tax-residents in other jurisdictions shall be subject to the Economic Substance (Companies and Limited Partnerships) Act, 2018 in the BVI.“Relevant activities” under the BVI ES regime comprise: Banking, Insurance, Fund management, Finance and leasing, Headquarters, Shipping, Holding company, Intellectual property, Distribution and service centers.All in-scope BVI companies under this regime must fulfill the compliance duties or economic substance test for each relevant activity they engage in. Learn more about BVI ES Guide >>

How can I name my BVI company?

The name of an IBC in BVI should end with the suffixes such as Limited, Corporation, Incorporated, Société Anonyme, Sociedad Anónima or their relevant abbreviations.Any name that is identical or similar to an existing company, or any name that suggests the patronage of the Royal Family or the Government of the British Virgin Islands, is restricted.

Who can be a member of BVI company?

There must be at least one director to incorporate in BVI. The director can be sole shareholder and ultimate beneficial owner (UBO).The sole member of a BVI company can be a natural person or a corporate body. Especially, a corporate can be the UBO only if it is listed public.

What kinds of taxations are payable for my company in BVI?

Like offshore companies in Belize or Seychelles, an IBC in BVI is tax-free completely for its profits earned.

Which business activities need licenses to incorporate in BVI?

Bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents.

What are included in BVI incorporation fee of BBCIncorp?

Our incorporation fee in BVI includes essential items for registration:Company name search & Documents preparation;Drafting of the Company Memorandum and Article of Association (M&A);Incorporation Process;1 year Government fee;1 year Registered Agent Service with local management and reports;1 year Local Office Registered Address service.

BVI Company Formation | Online Bank Account Opening

Benefit

Offshore Company Registration in BVI

Fast, simple incorporation process

Easy annual maintenance requirement

Modern corporate legislation with flexible structure

Full tax exemption for income derived outside of BVI

No public records of company directors, shareholders

No accounting and auditing requirement

USD as the official currency

The most desirable offshore financial centers

BVI Business Company (BC) Key Features

At least one director/one shareholder

Required local registered address

Required local registered agent

No minimum paid up capital

Bearer shares not permitted

BVI Company Formation Packages

Business Company (BC)

Refund Guarantee

We refund your money in full for services that we cannot deliver.

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Bring your next business venture online

Streamlined process

Start at your own pace. And reduce waiting time for back-and-forth email communication.

E-signature

Collaborate with your partner more easily. Less paperwork, more efficiency.

Digitized KYC

Standardized form & organizational chart to let you control and declare your information effortlessly.

Centralized management portal

24/7 access to company documents on high-security cloud infrastructure. And no worry about key compliance deadlines with auto reminder.

Incorporate and open a bank account in BVI

Step 1:Select company name and types

Every company in the BVI is required to be registered under an accepted name and as an entity type recognized by the law. Typically, there are universal guidelines to choosing a name for your business: availability, appropriateness and uniqueness. As for choosing an entity type, it's best to go with the one that suits business needs to the most.

Step 2:Submit application

You will need to ascertain information on the directors, shareholders, or other key personnels, in prelude to submitting them along with your chosen company name to relevant authorities.

Step 3:Apply for business license

By law, all companies must obtain a business license as either as a sole trader or a registered business. Depending on the nature of your business, additional vetting by industry-specific inspectors and consulting agencies may become a prerequisite before your application is approved.

Step 4:Open a bank account

The final step before your company can get off the ground is to open a bank account in BVI. You can select either neobanks or offshore banks to speed up the process exponentially. For a more robust option, you'll be glad to know that opening a traditional bank account for BVI companies requires no signatory travel.

Step 5:Stay compliant

As the BVI is known for its highly business-friendly envinronment , you'll find that staying compliant is a lot less stringent compared to most places. No need for annual return or tax filing, annual general meeting or audited reports.

Still, Economic Subtance reporting is a worth-concerning task.

BVICompany Incorporation Process

Create your orders

Enter our online order platform for easy onboarding experience and tailor your orders. We have different packages and additional services that suit your goals. All information filled in is secured over 256-bit encrypted line.

Make payment

You can settle payment for services via flexible payment options including debit/credit card of Visa, Master, Amex or Bank Transfer. After you complete payments, we will provide you a checklist of required information for BVI company registration.

Collect and verify KYC documents

Once we've received your payment, our customer service will contact you to process the neccessary paperwork. We'll guide you to properly prepare documents for incorporation in BVI via KYC online form. You can also access our digital Client Portal to proceed with the incorporation steps and keep track of the process anytime, anywhere.

Finish the company registration

The electronic documents are ready after 2 working days of company formation, and it takes 3-7 days for courier the original kit.

Required Documents

Notarized / Certified true copy of passports of all company members
Notarized / Certified true copy of address proofs of all company members i.e. identity card, bank statement, driving license, utility bill
C.V (Resume)

We also provide true copy certification service for your personal identity documents as per your need.

* See certified true copy guide