Rapid technological advancements and the rise in popularity of the Internet have given E-Commerce businesses new and exciting prospects. Through the Internet, e-Companies can do away with the need for a physical presence in target countries, revolutionizing traditional sales structures, drastically cutting costs, and gaining a distinct advantage over their competitors. This gives them a unique advantage over their "bricks and mortar" rivals.
The British Virgin Islands (BVI) has positioned itself among the top offshore business destinations that provide a favorable business climate to business owners and investors. As a result, offshore company formation in BVI is one of the intelligent decisions you can make to earn high investment returns.
The jurisdiction allows business investors to start the e-commerce business with ease. This guide highlights the essential aspects you must focus on before proceeding with the BVI business company.
E-commerce Business Scenario in BVI
The BVI is an ideal offshore location with room for many business sectors. One of the region's fastest-growing sectors has been e-commerce, making it possible for small business investors to step forward and invest. The amount of offshore business in the country has significantly increased over the years, and e-commerce companies can profit from high-end tax advantages.
There are now specialized offshore servers that may be linked appropriately to be used when setting up an offshore internet business in response to the rising demand of the offshore e-commerce sectors, especially after Covid 19 pandemic. In addition, utilizing these servers gives the company an additional degree of security because there won't be any traces of corporate transactions on the personal servers.
BVI Offshore Company Formation Process for E-commerce
To incorporate an offshore e-commerce company in the British Virgin Islands (BVI), one has to go through the following steps:
Register the Offshore Business
While proceeding with an offshore e-commerce business, the first step is registering a corporate entity. Since it is an offshore business, there are numerous business entity types that you can proceed ahead with. Here’s a guide on BVI company types, which will help you to get a clear idea of the same.
The offshore company registration process can be completed online, allowing business owners to enjoy numerous tax benefits.
Avail Web-hosting Service
After the offshore business unit is established, the second move is to proceed with offshore web hosting, which adds another layer of protection. A dedicated offshore server to operate back-end services is recommended to diversify the business.
Setup a Merchant Account
Next, you need to set define the payment mode for the offshore business transactions, which can be done in two different ways:
Merchant Account: This option allows the business to carry out business activities through people’s Visa, Mastercard, or any other online payment medium.
The moment you proceed for a merchant account, you need to ensure that the server is located outside the domestic jurisdiction. This is important so that your business transactions shall not bypass the home country’s server.
Select a Payment Mode
The second mode of payment is to go ahead with options like Paypal or Stripe, through which you can receive business payments directly to your offshore company bank account.
Proceed with the Distribution of the Goods and Services
Once the process has been established, you can quickly proceed with the business transactions.
Benefits of E-commerce BVI Company
Business investors might gain a lot from establishing an online store in the British Virgin Islands. A few of them consist of:
- Get exposure to the international market
- Earn a higher return on the investment made
- Flexibility to open an offshore bank account
- Enter into global investment opportunities
- Deal in multi-currencies
If the procedure is carried out with the assistance of business specialists, incorporating an offshore e-commerce firm in the British Virgin Islands (BVI) becomes a simple move.
Since time is money, it makes sense to go forward with the support of business advisers who can assist you at every stage.
Are you unsure with whom to proceed? Your response is directly underneath!
Business Setup Worldwide is committed to providing our clients with quick, easy, customized solutions.
Our business advisers, who have years of industry expertise, take the initiative to identify your company's needs and then go forward by offering solutions that are specifically designed to meet those needs.
Feel free to speak with our business specialists if you're interested in launching your e-commerce firm in the British Virgin Islands (BVI).
Please contact us for further details; we'd be happy to help!