How to Register Offshore Company in the British Virgin Islands

Are you planning to start an offshore company in the British Virgin Islands? If yes, then this blog will provide you with the details on the registration requirements and the process of BVI offshore company formation. 

British Virgin Islands is one of the world's largest financial centres. BVI is also a leading centre for the incorporation of offshore companies and has a strong offshore regulatory environment. BVI has a unique combination of oversight and the laissez-faire approach, which makes it very easy to do business. They have reputable compliance and a regulatory body, which makes it very simple and easy to bank with a BVI company. Another important factor is that BVI is a tax haven for offshore companies.

Features of BVI Offshore Company Incorporation

• Income is free from local tax.
• Minimum Capital is not required.
• No Capital gains
• No requirement for annual auditing
• Offshore companies can't engage in business in BVI.

Requirements for BVI Offshore Company Registration

The following are the items required for setting up a British Virgin Islands offshore company formation:

Company Name Approval

1. The name that you choose for your offshore company in the British Virgin Islands can be in any language with Roman characters.
2. The ending of the company name can have any suffix.

Directors

1. A minimum of one director is required for British Virgin Islands offshore company registration.
2. The director can be an individual or a corporate entity of any nationality.
3. There is no need for a resident director.
4. More than one number of additional directors can be appointed.
5. Nominee director service is also offered at an additional fee.

Shareholders

1. A minimum of one shareholder is required for setting up your offshore company here.
2. The director and the shareholder can be the same as well as a different person.
3. The shareholder can be an individual or a corporate entity of any nationality.
4. There is no limit to the number of shareholders that can be appointed.

Company Secretary

1. The company secretary can be an individual or a corporate entity of any nationality.
2. The same person who is the director/shareholder of the company can also act as the company secretary as well.

Paid-up Capital

1. A minimum paid-up Capital of one share of par value in any currency
2. Standard shares of 50,000 shares of $ 1.00 US par value

Registered Address

A registered address can be provided at BVI at no cost.

Documents Required

1. Passports of the proposed shareholders and directors
2. A certified copy of the residential address proof of proposed shareholders and directors
3. If the shareholder is a corporate entity, then details of the parent company are required.
4. A copy of the above-mentioned may be certified by a lawyer or bank.

Process for BVI Offshore Company Formation

It is a three-fold process to start an offshore company in BVI.

Step 1} Submit Incorporation Order Form

After having provided your email address, the following necessary incorporation forms will be mailed to you. Upon receiving the above,

• Your proposed company name availability will be checked.
• Constant follow-ups for your queries(if any)
• An invoice will also be sent to you.

Step 2} Make Payment for Offshore Company

• Once your payment is received, the incorporation documents will be prepared to be signed overseas before the Notary public.

Step 3} Incorporate British Virgin Islands Company

• Upon signing the incorporation documents, then we will proceed to BVI offshore company formation.
• You may proceed to open an offshore bank account once the company is incorporated.

Offshore Company Registration

The incorporation and the first-year fees include all the things that you need to operate and manage your offshore company legally. These are

• First-year fees of government
• Incorporation fees
• Agent fees
• First-year registered office address in the jurisdiction fees.
• One complete company kit that consists of two sets of Memorandum and Articles of Association and a common seal and rubber stamp etc

Following are the original corporate documents that are issued with a new British Virgin Islands incorporation and are all included in the price quoted.

• Incorporation certificate
• Incorporator's consent
• Articles of incorporation
• Endorsement certificate
• Bylaws
• Minutes of a meeting of the board of directors
• Incumbency certificate
• Register of Directors
• Stock Ledger
• Share certificates

These are the documents that you need to legally run, manage, and operate your British Virgin Islands company.

Optional Documents

• Memorandum regarding the resignation of the Nominee director
• Nominee declaration

Also Read: How to Obtain A Forex Broker License for BVI

How Can We Help?

Are you ready for an offshore company registration in BVI? Business Setup Worldwide is a platform to guide you to register an offshore company in BVI. If you need any assistance in the offshore company formation in BVI, feel free to contact us! We'd be glad to assist you.