BVI

The British Virgin Islands is one of the world’s leading finance centre’s offering stability within a progressive and democratic society. The financial sector is responsible for just over 50% of total government revenue. The island is committed to retaining an investor’s right to privacy, while providing a professional banking sector with top quality legal, accounting and trust and management services.

Benefits of registering a company in BVI:

• All documents and legislation are in English, the official business language.
  
• The incorporation time for a BVI company is short and any future administration is straightforward and cost-efficient.
  
• A BVI company offers a high level of privacyand confidentiality.
  
• There is no requirement to pay capital gains or inheritance taxes for estate planning.
  
• No dividends, interest or royalties are required to be paid.
  
• Registered or bearer shares are permitted.
  
•  Only one Director and Shareholder are required. The Directors and Shareholders can be any nationality and are not required to be resident in the BVI.
  
• There is no requirement for an annual meeting orAGM to be held. Board meetings may be held anywhere in the world.
  
• Directors can be individuals or corporatebodies.
  
•  There is no requirement to register initial or ongoing changes in Directors and Shareholders.
  
• There are lenient accounting and auditing requirements.
  
• No foreign exchange controls currently exist.
  
• Corporate bank accounts can be opened without physicalpresence.
  

The procedure for the formation of a British Virgin Islands company remains fast and efficient.

For an Individual, the following documentationis required:

• An application form is completed with details of preferred name and details of beneficial Directors and Shareholders (nationality, country of residence, address, profession etc.).
  
• A scanned and notarised copy of the passport of the beneficial Directors and Shareholders is required.
  
• A notarised photocopy of other official documentation (such as Driving License, ID Card etc.) to confirm the copy is a true copy and the photo is a true likeness.
  
• An original proof of residence showing the name and address of the individual is also required. This can be in the form of a utility bill or bank statement and must be no older than 3 months.
  
• One original letter of introduction is required. This letter can be from a bank, Lawyer, Accountant, or similar profession.
  
• Completed and signed Beneficial Owners Declaration (BOD) by all Shareholders and Directors.
  

For a Company, the following documents arerequired:

•  A certified copy of the Certificate of Incorporation.
  
• A certified copy of the Company’s Memorandum and Articles of Association.
  
• A certified copy of the RegisteredShareholders with details of shares held by each.
  
• A certified copy of Register of Directors.
  
• A certified copy of the Register of Offices.
  
• For at least 2 Directors, the documents set out in ‘Individual section’ above.
  
• The Memorandum and Articles of Association and any other associated documents required to register a BVI IBC are sent to the Registrar. The Memorandum of Association will include: the company name; the address of the registered office of the company; the function and objectives of the company; the share capital of the company and an explanation of liability.
  
• When the Memorandum of Association is accepted, then a Certificate of Incorporation will be issued.
  
• The company’s Certificate of Incorporation, Memorandum and Articles of Association are required to be submitted to the Companies Registry at the time throughout the company formation process. No additional documents are required for incorporation. These documents will not state the identity of the Directors or Shareholders, therefore maintaining confidentiality.
  

Detailed Service Price List- BVI Company Incorporation

If you have any questions regarding the registration of a company in the BVI, please contact our specialists at info@eltoma-global.com, they would be happy to answer any questions you may have regarding opening a company in the British Virgin Islands.

* The Service fees placed on the website are intended for general information purposes only and may differ from the final quotation
**Some of the information stated may no longer reflect the most current legal developments