Company Administration Guidelines

Share Capital:

  • There is no minimum capital requirement for a BVI IBC.
  • An unlimited number of shares is permitted. Bearer shares are permitted but are subject. to a custodian service and also a higher government license fee.
  • Can be formed with one shareholder who can also act as the director.
  • The use of nominee shareholders is permitted.

Directors:

  • A minimum of one director is required, can also act as a shareholder if required.
  • Directors can be either individuals or corporate entities.
  • Directors must now file all particulars online as per Section 118B of the BVI Business Companies Act.

Restrictions on Name & Activity:

  • The company name must not be identical or similar to any existing name.

Local Requirements:

  • A registered office in the BVI must be maintained. The following documents are required to be kept at the registered office; Memorandum and Articles of Association and any amendments, Copy of Register of Members or Share Register, Copy of Registered Directors, Impression of the Corporate Seal, Register of Changes. A company is considered resident if it has a registered office in the BVI.
  • There is no requirement to hold annual meetings. If required meetings can be held anywhere in the world.
  • A company secretary is not a mandatory requirement for incorporating a BVI IBC.

Confidentiality:

  • The Register of Members and resolutions by the company do not appear on public record.
  • Details of the company’s beneficial owners, directors and shareholders do not have to be made publicly available.
  • The only documents held on public record are the Memorandum and Articles of Association which do not contain any details of beneficial directors or shareholders.

Timescale:

The incorporation of a BVI company is very quick and will take approximately two days.

Take the next step, we are here to help.

Register a BVI (British Virgin Islands) company.
Open a BVI (British Virgin Islands) bank account.

  Resources:

 

Protection of Nominee Directors from IRD claims for Cyprus client companies

Legislation re Cyprus Tax Residency:

 

Cyprus Company Law: Responsibility of Directors for the non-payment of taxes

A Company Director, in a company incorporated under the laws of the Republic of Cyprus, may be found liable by the Inland Revenue or Customs & Excise with regarding tax related issues. As per the legislation, the Inland Revenue or Customs & Excise may personally prosecute the Company Directors who are involved in any taxation offence(s) or related financial matters.

Inward re-domiciliation: changes to the Singapore Companies Act allowing foreign firms to re-domicile to Singapore

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In order to ensure that the regulatory regime of Singapore continues to be robust, relevant and in line with international norms, on the 30th of March 2017, the Companies (Amendment) Act 2017 of Singapore was gazetted. Among the number of amendments to the Companies Act, the provisions for the inward re-domiliation regime are arguably the most important in further boosting Singapore’s character as a business hub.

Inward re-domiciliation: Key changes to the Singapore Companies Act make company relocation to Singapore easier than ever

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Last March, the Singapore Government amended the Singapore Companies Act 2017 which introduced an inward re-domicile (or relocation) regime in an effort to boost Singapore’s attractiveness as a business hub.

Cryptocurrencies: technical and legal overview

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In this article, we will try to succinctly describe the technical and legal characteristics of Cryptocurrencies. The understanding of Cryptocurrencies is crucial for today’s modern payment services and investment opportunities around the world. We have seen the increasing importance that this topic has acquired in the last few months and the rise of the price of the most popular type of Cryptocurrency, the Bitcoin, from $0.06 cents of a dollar in 2010 to $5,518.85 by the 25th of October, 2017.[1]

The Belize IBC Amendment Act 2017: 3 notable changes for businesses

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Cryptocurrency & ICOs as securities & virtual commodities as per Hong Kong law

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New licensing regulations for Trusts & Service Providers in Hong Kong

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