British Virgin Islands (BVI) is famous for offshore business. One of the most popular business sectors in the jurisdiction is the trading business. Offshore trading companies can be of different types, such as selling products or stock investments. There are many benefits for BVI Company registration for trading companies as it offers VAT exemption, business confidentiality, nil or low corporate law etc.
If you are determined to do BVI business registration, read the blog on starting one.
BVI Company Registration for Trading
The BVI is one of the most prosperous places in the Caribbean, with its growing economy due to governmental policies. The process for BVI offshore company formation for trading bussiness is as follows:
Finalize the Trade Name
The first step is to finalize a name for your offshore trading business in the BVI. Follow the trading name regulations in the BVI and then select up to three trading name for your british virgin islands offshore company registration.
Contact any Business Consultant
Once you choose the business name, it is time for you to contact any business consultancy. They will assist you in the BVI company formation process. Contact such a consultancy that has years of experience in the field and knowledge about BVI trading company compliances.
Submit the Required Documents
In the next step, hand over all the documents needed for the trading business registration in the BVI to the business consultant if you contact any. For those doing business registration on their own, submit all the documents to the government authorities. The relevant documents that you must submit are as follows:
- Application form
- Passport copies of the directors and shareholders
- Residential proof ( Utility bill or bank statement)
- MOA and AOA of the applicant company
Open an Offshore Bank Account
In the next step, open a corporate bank account for your trading company in the BVI. The offshore bank account will help you keep track of your future financial transactions. A business without a bank account does not make any sense. Therefore you can’t skip this step. Additionally, looking into offshore bank accounts in the BVI will give you a clearer idea of how to open an offshore bank account.
Apply for the License
In the next step, obtain a trading business license for your business. The Financial Services Commission is the regulative authority in the BVI. The application must be filled, and the documents must be submitted, so the license application will be issued.
Complete the Post Registration Compliance
Once the BVI company registration is done, the documents and you obtain the registration license, you can start business activities in the country. Maintain all the regulations regarding the trading business obligations in the BVI, such as registering an office space if required, maintaining corporate records, and keeping financial records. If there is any annual requirement for the trading company, then fulfill that.
There are various types of trading company structures in the BVI, and contacting any business professional will be of help.
How Can We Help?
BVI is an appropriate jurisdiction for offshore trading business. The advantageous location with the tax regimes makes the place a viable option for business investors or business owners to start their offshore trading business. However, this job can’t be done without any assistance from any business consultants. Therefore Business Setup Worldwide is one of the most reputable business consultancies. We have business professionals who have years of experience in BVI offshore company formation. Contact us for any more information.
Which is the governing authority for trading in BVI?
The Department of Trade & Consumer Affairs.
How long does a BVI company register for a trading business take?
2-3 working days.
What are the different trust structures present in BVI?
- Societe Anonyme/Sociedad Anonima (S.A.)