With the advancement of technology, the e-commerce sector has left its footprints in the business investor’s mind. The feasibility of ordering your favourite product or service has become much more comfortable, allowing millions of individuals to become a part of the process. The e-commerce industry has not only captured the top business destinations of the world but also has made its place in the global offshore jurisdictions.
The British Virgin Islands(BVI) has positioned itself in the top offshore business destinations that provide a favourable business climate to the business owners and investors. Starting an offshore company in the BVI is one of the smart decisions that you can make to earn high returns on your investments. The jurisdiction allows the business investors to start the e-commerce business at ease. This guide highlights the essential aspects that you need to focus on before proceeding ahead.
E-Commerce Business in the BVI
The BVI is a perfect offshore operational ground that provides scope for numerous business industries. The e-commerce industry that has been one of the booming industries in the region, paving out a way for the business investors to come forward and invest. Over the years, there has been a significant increase in the offshore business in the jurisdiction, and the e-commerce businesses can gain high-end tax benefits.
With the growing demand of the offshore e-commerce industries, today, there are dedicated offshore servers that can be connected accordingly to be utilized while setting up an offshore online business. Using these servers add an extra layer of protection to the business as there will be no business transaction traces on the home servers.
How to Start an Offshore E-Commerce Business in the BVI?
To incorporate an offshore e-commerce company in the British Virgin Islands (BVI), one has to go through the following steps:
1.Offshore e-commerce company setup
While proceeding with an offshore e-commerce business, the very first step is to register 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 on the same.
The process of offshore company registration can be completed online that gives leverage to the business owners to enjoy numerous tax benefits.
2.Avail offshore web-hosting and server
After the offshore business unit gets established, the second move is to proceed with offshore web-hosting, that adds another layer of protection.
It is recommended to opt for a dedicated offshore server to operate back-end services to diversify the business.
3.Set up a merchant account or a payment mode
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 authorized to carry out the business activities through people’s Visa or Mastercard, or through any other online payment medium.
The moment you proceed ahead for a merchant account, you need to make sure 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.
- Payment Processing Alternative: The second mode of payment is to go ahead with options like Paypal or Stripe, through which you can receive the business payments directly to your offshore bank account.
4.Proceed with the distribution of the goods and services
Once the complete process has been established, you can proceed ahead with the business transactions at ease.
Benefits of Setting Up an E-Commerce Company in the BVI
Starting an e-commerce company in the British Virgin Islands brings many benefits to business investors. Few of them includes:
- 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
Incorporation of offshore e-commerce business in the British Virgin Islands (BVI) becomes an easy move if the process gets carried out with business experts' help.
Time is money, and thus, it turns out to be a perfect choice to proceed under the guidance of business advisors as they are transparent about the process and can help you at every step.
To know more, read our guide on the Core Reasons for Hiring an Offshore Business Consultant.
Wondering whom to proceed with? Your answer is just below!
Business Setup Worldwide| Your Offshore Guide
We at Business Setup Worldwide is keen on to provide fast, simple and tailored solutions to our clients.
With years of industry experience, our business advisors take the initiative of understanding your business needs and proceed ahead by providing tailored solutions suiting your business needs.
If you are looking forward to starting your own e-commerce company in the British Virgin Islands (BVI), feel free to have a word with our business experts.
For further information, feel free to contact us-we’d be glad to assist!