Contributed by Europe Emirates 29 October, The British Virgin Islands Business Company format has arguably been the most popular offshore corporate vehicle of the last 20 to 30 years. A brief introduction to the BVI's legal framework as well as its tax rules, companies legislation and limited company format are included here.
In addition, no tax is payable by the crew non-residents on ships registered in the BVI and operated outside the territorial waters of the British Virgin Islands. Enter the code. Month 01 02 03 04 05 06 07 08 09 10 11
The British Virgin Islands consist of 60 islands and cays having a total land area of sq. They lie to the north west of the United States Virgin Islands and are separated from them by a channel only five kilometers wide. The neighbor with the largest land area is Puerto Rico, 96 km to the west.
The use of offshore companies is intended to facilitate cross-border trade mergers and acquisitions. It is also aimed at planning tax and covering the true identity of business owners. The registration of a BVI company without any business activity costs a few thousand pounds, a trivial amount to a business owner. It can be completed by a professional business service agency, without the need for the applicant to visit the island in person.
For information regarding our fees, please visit our prices and fees page. We can assist with a variety of company documents in over 50 countries worldwide. View and order via our services.
The islands make up part of the Virgin Islands archipelago. Around 15 of the islands are inhabited. The islands have a total population of about 22,
Call Now 24 Hrs. With a wide variety of business uses and great benefits, a BVI offshore company can be a smart business move for your company. This article will explore what a BVI company is, the benefits it provides, and the uses it has.
Tax advantages, however, are by no means the only benefit to registering an international business enterprise in a jurisdiction like British Virgin Islands. A typical modern offshore company is a private corporation which is exempt from tax, suitable for virtually any international business activity, has a flexible organizational structure, is not subject to excessive accounting and reporting requirements and maintains certain level of confidentiality with rather limited information available to general public. The BVI offers all of these benefits — and more.
Services and documents In brief In detail Legal system. First inhabited by Arawak and later by Carib Indians, the Virgin Islands were settled by the Dutch in and then annexed by the English in The islands were part of the British colony of the Leeward Islands from ; they were granted autonomy in
For further information, please visit the government website. The legal system is based on English common law, supplemented by local ordinances. There are no taxes levied on business companies with the exception of the annual government licence fee, which is USD for companies with a maximum authorised share capital of 50, shares. Companies that fail to pay their licence fee by the due date are subject to penalties and will be struck off five months after the due date.