British Virgin Islands (BVI)

British Virgin Islands (BVI)

BVI Business Companies are highly popular and often used offshore companies because of their administrative simplicity, flexibility, tax exemption status and above all, acknowledgment and recognition by the global financial community.

 

Structure:

BVI company requires a minimum of one owner, one shareholder and one director. They can be either private or corporate entity of any nationality. One entity can act as owner, shareholder and director. The management structure of BVI company can be tailored in an accordance with a wide range of clients’ requirements. A company with sole director/member/shareholder may appoint additional director to take his/her place in the case of bereavement.

 

Provisions:

Should for some reason (nationalization, confiscatory tax, expropriation), a foreign Government seizes company shares, the shareholder may apply to the BVI Court, asking them to disregard the seizure and hold the shares accordingly.

 

Type of formation:

BVI company may be incorporated as: a company limited by shares, a company limited by guarantee (with or without authorization to issue shares), an unlimited company (with or without authorization to issue shares), a segregated portfolio company and a restricted purpose company.

 

BVI Company may:

  • Own vehicles registered in the BVI
  •  Own shares of another BVI company
  •  Engage in commercial property leasing
  •  Deposit/invest money in the BVI based banks
  •  Maintain professional contact with the BVI residents

 

Generally, you may be asked to provide the following:

  •  Company name suggestions (3-4)
  •  Passport copy (must include photography, signature, reference number, issuing office, issuance & exp. date)/Drivers licence (must include photography and signature) or Personal ID card (must include photography and signature)*
  •  Utility bill (electricity, telephone, etc.) or Drivers licence or bank account statement or local authority tax bill*
  • Bank reference
  •  Advance payment to EURO COMMERCE LLC bank account.

In addition, the following documents must be translated to English (if originals not in English): Drivers licence, utility bill, bank account statement

*Documents should be certified by Independent Lawyers, Bank Manager, Accountant, Notaries, Embassy Officials in English