British Virgin Island

Business Setup

British Virgin Island

An overseas territory nestled on the east of Puerto Rico, British Virgin Islands (BVI) is famed as the world’s leading offshore company incorporation center with over a million BVI companies operating in the jurisdiction since 1984. There are a host of factors which contribute to BVI’s attractiveness as an international business formation centre. These include its economic prosperity, progressive regulatory regime, business friendly environment, tax exemption policies and a history of political stability. As a result, establishing a BVI company is one of the most lucrative options for international entrepreneurs and investors who intend to increase their business footprint. Incorporated under the BVI Business Companies Act 2004, these companies are commonly known as “Business Companies”, and can carry out business activities with non-residents of BVI.

British Virgin Island

Efficient Incorporation Process

In general, a BVI company incorporation process can be completed within 3 to 5 working days. Additionally, business setup in British Virgin Islands is extremely cost effective in comparison to other offshore jurisdictions of the world.

Different Types of Company Incorporations

Apart from being cost effective with an easy setup process, company formation in British Virgin Islands allows maximum flexibility in respect to the type of company that may be established. A BVI company can be:-

  • A venture limited by shares or by guarantee (with or without an authorization to issue shares)
  • An unlimited company (with or without an authorization to issue shares),
  • A restricted purpose company
  • A segregated portfolio company

Flexibility

A BVI company is a flexible form of legal entity that has the liberty of carrying out a wide range of business activities in and outside the geographical boundaries of British Virgin Islands. Furthermore, a BVI company requires a single director or shareholder, either of which must be a corporate body, and the same corporate body or individual must serve as both sole shareholder and director. Additionally, there is no restriction on either of them to be a resident of the British Virgin Islands. A BVI company is also not required to file any annual returns, financial statements, or maintain any records.

Privacy

BVI companies enjoy utmost privacy and confidentiality. There is no public record of the identity of directors or shareholders; however, a copy is filed with the company’s registered agent. This ensures complete confidentiality of the company’s information. Nominee services for directors and shareholders may be employed to ensure the confidentiality of the beneficiaries.

Tax Benefits

BVI companies enjoy great tax benefits. They are exempted from income tax and the same applies to all rents, royalties, dividends, compensations, and other amounts paid by the business. No inheritance, real estate or succession or gift tax is applicable with respect to any debt obligations, shares or other securities.

Shares and Capital

  • No minimum authorized capital requirements.
  • 100% ownership with no requirement of a local national for company establishment.
  • Shares can be easily transferred from one shareholder to another.
  • A BVI Business Company can issue bearer shares which must be deposited with a licensed custodian along with a written statement of the identity and address of the actual shareholders.
  • 100% repatriation of capital and profits

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Services offered by Jumeira Consultants

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Services offered by Jumeira Consultants

If you’re interested in setting up an offshore company in the UAE, please +971 52 809 8408  right away; we’d be pleased to assist you.

Apart from business setup services, we offer business consultancy services, mergers and acquisitions, tax residency certificates, trade licenses and many other services.