Why Incorporate a BVI Offshore Company?
By utilizing a BVI Offshore Company, it may be possible to secure a number of advantages. A few of these advantages are listed below.
- British Virgin Islands (BVI) Companies have tax-exempt status.
- The annual government renewal fee for an offshore company is fixed.
- Privacy. Non-Disclosure of Directors, Shareholders, and Beneficial Owners details to the public.
- No restrictions concerning ownership of shares in the BVI offshore company.
- Bank accounts may be opened anywhere in the world for the offshore company.
- No exchange controls in the BVI.
- Freedom of capital movement for the BVI Offshore Company.
- No requirements for the offshore company to file Annual Financial Statements with the BVI Government.
- The accounting books for the BVI offshore company could be kept in any part of the world.
- No residence requirements for the Directors / Officers / Shareholders of BVI offshore companies.
- There is no requirement for the BVI offshore company to hold annual meetings of directors or shareholders.
- The resolutions of the BVI offshore company may be passed by telephone meeting, other electronic means or by circulating written resolutions for signing.
- The Shares of the BVI offshore company may be issued to a person or a corporation.
- Shares of the BVI offshore company can be easily transferred to another person or corporation if required.
- Additional directors can be easily appointed to the BVI offshore company.
- A minimum of one shareholder is required for the BVI offshore company. No details of the shareholders appear on the public file but a register of shareholders must be kept at the registered office address of the company in the BVI.
- A minimum of one director is required for the BVI offshore company and corporate directors are permitted. Details of the directors do not appear on the public file. A register of directors must be kept at the registered office address of the company in the BVI and filed with the BVI Companies Registry.
- The same person can act as director and shareholder of the BVI offshore company.
- You can allow your offshore company to be Struck-Off by the BVI Registrar of Corporate Affairs if you no longer have any use for the company - at no additional cost to you.
- Amendments can be made to the BVI incorporation documents upon the needs of the corporation, Before or After the incorporation of the BVI offshore company.
- Offshore corporations may be used to own and operate businesses, act as a holding company, buy real estate, issue shares, bonds or otherwise raise capital, guarantee obligations, hire employees, buy goods and services, sell goods and services, make contracts, rent office space, maintain checking and saving accounts, and maintain retirement plans for employees.
Persons wishing to utilize an offshore company need to ensure that they comply with applicable onshore laws (according to their nationality, residence, etc) and should obtain professional tax advice if necessary. NetIncorp.com does Not offer tax advice.
WHO CAN MAKE USE OF OFFSHORE COMPANIES?
1) A BVI Offshore Company can be used by any individual selling his/her services outside the jurisdiction of his domicile or residence.
2) All kinds of consultants and professional people, performing artists, airline pilots, designers, investment managers and brokers, private developers can use a BVI Offshore Company.
3) Owners of patents, trademarks, legal rights, copyrights and intellectual property can also use a BVI Offshore Company.
4) BVI Offshore Companies can be used by owners of real estate, ships, yachts, airplanes, specialized machinery.
If you do business outside your own country or economic area, there is a good chance you may find advantages from using a BVI Offshore Company.