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BVI Company Registration and Maintenance Guide (1) Introduction to British Virgin Islands
Politically the British Virgin Islands enjoy the best of both worlds, having the ideal combination of responsibility for its internal self-government and being a dependent territory of the United Kingdom. It must be emphasized however that the administration of BVI Offshore Companies and Trusts and any legal matters so arising, such as claims against island based entities by foreign tax authorities, is solely within the jurisdiction of the BVI courts.
Why Go Offshore
Protect Wealth. Save Tax. Reduce Operating Costs. Individuals and corporations go offshore for a number of reasons: 1.Save tax ;2.Protect wealth ;3.Reduce risk ;4.Maintain privacy ;5.To avoid unnecessary regulations or bureaucracy.By interposing offshore companies into international trading transactions it may be possible to accumulate profits arising out of these transactions.
BVI Company Registration and Maintenance Guide (2) - The BVI Business Companies
BVI International Business Companies Act, 1984 ("IBC Act") provides for the incorporation and administration of the International Business Company ("IBC"). It is a requirement that IBC's have a registered office and registered agent in the British Virgin Islands where a copy of the share register and imprint of the corporate seal is kept.
BVI Company Registration and Maintenance Guide (3) Major Features of British Virgin Islands Company (BVI Company)
International Business Company (IBC) registered under BVI Business Companies Act 2004.The normal authorised share capital of a BVI company is 50,000 shares with all of the shares could have a par value or no par value, this being the maximum share capital for the minimum duty payable upon incorporation and annually thereafter. The share capital may be expressed in any currency.
Registered Agent and Registered Address of an Offshore Company
All offshore jurisdictions require that their international business companies (non-resident companies, offshore companies, Business Companies, etc.) have an address within the country. This is called the Registered Address. Formally it can sometimes be a PO Box, but usually it will be a full street address - for reasons, explained below.
Memorandum and Articles of Association of Offshore Company
an offshore company is an entity recognized by law as a separate limited liability, they are legally required to filing the Memorandum of Association of Articles when incorporated. Once completed and officially recognized, the document becomes a matter of public record. It combines memorandum of association and articles of association these two documents, which provide the legal skeleton of the company.
BVI Company Registration and Maintenance Guide (7) - Registration Procedures
One photocopy of passport and residential addresses proof which issued not more than 3 months and in English (such as utility bill or telephone bill or bank statement) in respect of each shareholder; if shareholder is a corporation, please provide Certificate of Incorporation, latest registered office address proof, latest register of directors
BVI Company Registration and Maintenance Guide (4) Choosing the Name for a BVI Business Company
There are restrictions on what types of words you can use in a company name. See "restrictions" and BVI Restricted Words.No company can be incorporated which has a name which is identical to another company incorporated in the British Virgin Islands or so closely resembles the name that it could be deceptive or mixed up.
BVI Company Registration and Maintenance Guide (8) Readymade BVI Business Companies
Ready-made, or "shelf" companies are companies, which are already registered by us and are available for immediate purchase by an interested client. These companies have not traded or entered into any dealings or obligations whatsoever. Since incorporation, their documents have been kept motionless "on the shelf" in our office, hence the name.
Introduction of Seychelles Limited Partnership
Limited Partnerships are required to have a minimum of one general partner and a minimum of one limited partner.A limited partnership is not an entity with separate legal personality and cannot own property in its own right. The Act provides that the property of a limited partnership shall be held by its general partner as an asset of the limited partnership in accordance with the terms of its partnership agreement.