Managing the assets and wealth becomes a significant concern when one needs to face the concept of getting in touch with strong players in the market, or facing a severe family issue like divorce. A strong competitor can play numerous strategies to harm your business in the best possible way, along with the assets that you hold. On the other hand, a broken marriage can lead you to pay alumni amount that might turn out to be risky.
Setting up an offshore company in a reputed offshore destination like the British Virgin Islands (BVI) can help you to prevent such unwanted scenarios. This guide highlights the steps needs to be taken to protect your asset and wealth by going offshore in BVI.
The British Virgin Islands (BVI) has been one of the most likely offshore business destinations that the business investors select. The government of the jurisdiction has created a feasible environment for them to come forward and invest in offshore business activities.
Here’s a guide on the British Virgin Islands, A Tax Haven for Offshore Company, which will help you to get more in-depth information regarding the incorporation front.
The business jurisdiction also provides flexible opportunities for business investors to come forward and open an offshore bank account to perform the global business transactions at ease.
When it comes to safeguarding the assets and wealth, it is recommended to proceed with the company incorporation process. Here’s a guide on the benefits of BVI company formation along with the bank account, which highlights the core essentials one should know.
When it comes to the management of offshore asset and wealth, the BVI ranks in the top ten destinations among the popular offshore jurisdictions. It has been one of the leading financial centres that play a significant role in global finance. The BVI’s legal framework system has evolved accordingly, focusing on catching the business investors' attention.
Over the years, there has been a drastic positive shift in incorporating asset and wealth management companies in the BVI. High-level corporate governance and flexible corporate structure mentioned in the BVI Companies Act 2004 allow investors to enjoy tax benefits.
Since the company setup process is an easy move in the location, it becomes a beneficial move for the fintech firms to grow and enter the international market.
Incorporating an asset and wealth company in the British Virgin Islands requires core steps to be taken accordingly.
A business consultant deals with diverse clients coming from various industries, which give them a better idea of what is trending in the market. Besides this, they are well-versed with the complete incorporation process that involves the legal proceedings.
To get better clarity, have a look at Core Reasons for Hiring an Offshore Business Consultant, which will give you insights as to why you should proceed ahead under expert’s guidance.
The next move is to understand the process that one needs to undergo while safeguarding the available assets and wealth through offshore company incorporation.
Having an idea about the plan to be followed will help you clarify the steps to be followed. Additionally, having an in-depth discussion will you and your business advisor to be on the same page.
Submitting the core essentials is a significant part of incorporating a company. While incorporating an asset and wealth management company, you need to submit the following essentials:
The complete set of essentials are to be submitted to the business advisor, who in turn will help you to get the required approvals from the government authorities.
The authorities will proceed with a critical inspection to evaluate the documents submitted. In case if it is yes, you will be receiving the required approvals and can proceed ahead with getting the licenses.
If the approval gets declined, you need to have a word with your business consultant to identify the loophole and rectify them accordingly.
In the next move, you need to set up an offshore bank account that will help you to get involved in international transactions.
To open an offshore bank account, you need to submit the following essentials:
The bank authorities will examine the authenticity of the documents provided, and if it meets the requirements, you can open an offshore bank account. To know more, have a look at the advantages of offshore banking, that will help you to understand the core advantages that you can get by opening one.
Lastly, you can transfer the business assets and funds that need to be safeguarded.
Since it is to deal with transferring the assets and wealth overseas, it is essential to note that proceeding with nominee services will add a layer to the business. Opting for nominee services is beneficial because it hides the identity of the original business owners.
Thus, you have got a complete idea of the process that is to be initiated to protect your business assets. It is recommended to go ahead with expert’s guidance so that the legal processes can be handled in a hassle-free and effective way.
Right from the company incorporation, Business Setup Worldwide has been focusing on easing the way out for the business investors and entrepreneurs to kick-start their business operations in a hassle-free manner. Our expert advisors are well-grounded with the offshore company formation processes and can help you incorporate one by providing tailored solutions.
If you are looking forward to setting up your offshore asset and wealth company in the BVI, feel free to have a round of discussion with our experts. Contact us today-we’d be glad to assist!