Business investors have various options while investing in offshore companies. The freedom to benefit from the tax exemption is one of the ideal mindsets that motivates most business owners to move forward.
While considering investing or company incorporation, BVI is considered to be one of the best moves one can ever make. A BVI trust is the best business choice available worldwide among all other business options. Meanwhile, trust is essential in succession planning for people, businesses, families, etc.
If you are a business owner or an investor looking forward to setting up a BVI offshore trust, then this writeup is specially drafted for you.
Key Advantages of Opting for the British Virgin Islands Trust
Choosing the British Virgin Islands trust brings you several business advantages. Following are a few listed for your better understanding.
- Complete asset protection
- Privacy and confidentiality in terms of trust formation
- Exemption of various taxes
- Flexibility in conducting business activities
- Estate planning
- Political and economic stability
- Global recognition
Simple Step-by-Step Procedures to Form BVI Trusts
In order to proceed with BVI offshore company formation or forming BVI trust companies, one needs to go through the following procedure:
Join Hands with a Business Setup Consultant from Business Setup Worldwide
While opting for a private trust company BVI, the primary thing to consider is seeking assistance from a business setup consultant. Proceeding the entire process by yourself might seem to be troubling. In order to complete the process on time and form your BVI offshore trust, you must seek assistance from a business setup consultant to get a clear picture of it.
Understand the Business Requirements
Since you are dealing with the formation of a private trust company BVI, ensure you have conducted thorough research. In addition to that, getting involved in a discussion with your offshore business consultant will help you easily understand the complete business scenario and legal proceedings.
Submit the Mandatory Paperwork
While opting for BVI offshore trust formation, documentation is the primary part that needs to be taken care of. While proceeding ahead with BVI trust formation, one must submit the following essentials.
- A duly filled application form
- Photocopies of the parties involved in the trust company formation process
- Identity and address proof of the parties
- Detailed and well-structured business plan
- Bank reference letter
Get Approval from the Relevant Offshore Authority
After submitting the necessary documents required for forming BVI trust companies, you can wait for approval from the respective offshore authority. Getting approval may take time, depending upon the choice of business and your offshore services. So, in order to track your process, get in touch with a business setup consultant.
Open a Business Bank Account
After following the above-said procedures, as a business owner, you can open an investment bank account in the same jurisdiction (where your offshore company has been incorporated). In addition to that, you can proceed with an alternative option too. Since many offshore locations exist, you can get in touch with an offshore business consultant to get a clear idea about the entire process.
Henceforth, by following the above-mentioned procedures, you can easily form your British Virgin Islands trust.
BSW's Role in Assisting Business Individuals with Trust Formation
Since the start of the consulting firm, Business Setup Worldwide has assisted many business investors by offering customised solutions as per their business requirements. By doing so, it makes BSW stand as one of Dubai's top ten business consulting firms. The business advisors at BSW can advise you with the complete business information. Feel free to contact us if you need more clarification about the BVI trust cost and formation process of private trust company BVI.