Company Incorporation in the British Virgin Islands (BVI)
Company Incorporation in the British Virgin Islands
The British Virgin Islands (BVI) is known for having a full tax exemption for income derived outside of BVI. In addition, there are no (NO) accounting and auditing requirements in the BVI. FirmEU can track this for all of its clients. NO minimum paid-up capital requirements. NO public records of company directors, shareholders, or beneficial owners.
There are only two requirements for incorporation in the BVI, 1) to have a local agent, and 2) to have a business address. Our service packages consist of both. In addition, we offer a digitized KYC process. This eliminates the need for clients to go to your local notary/lawyer to legalize documents. Our compliance team will provide your documents with the required apostille.
The main benefits of the BVI summed up:
- A single director and single shareholder are sufficient
- No requirement for a company secretary
- No residency requirements for directors
- No requirements as to frequency or location of meetings of directors or shareholders (telephone meetings and written resolutions executed in counterpart are permissible)
- No requirement for audited financial statements
- No required annual filings
- Cost-efficient registered office and agency services
- Straightforward corporate recordkeeping requirements and flexibility as to where the original corporate records can be maintained
- Great place for crypto/NFT businesses
Want to learn more about the BVI and the company formation procedure? Get in touch with one of our experts.