Business british virgin islands

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Call Now 24 Hrs. With a wide variety of business uses and great benefits, a BVI offshore company can be a smart business move for your company. This article will explore what a BVI company is, the benefits it provides, and the uses it has.

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Keep informed about important changes in Singapore to help you manage your business effectively as well as our upcoming events. Situated approximately 80 kilometres from the coast of Puerto Rico, the British Virgin Islands BVI today is a well-known jurisdiction for corporate trusts and offshore company set-ups. There are currently more thanforeign businesses incorporated in the BVI.

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The last few years have seen a steady flow of Chinese businesses choosing to incorporate entities in the British Virgin Islands BVIand Chinese lawyers seeking knowledge on the uses and advantages of BVI structures for their clients' transactions. Over the last few decades, it is increasingly widely known that there has been a steady flow of Chinese businesses choosing to incorporate entities in the British Virgin Islands BVI. And in tandem with the growing interest from Chinese enterprises looking to build businesses using the BVI, we are increasingly seeing more legal professionals based in China looking to become more knowledgeable about the uses and advantages of BVI structures for their clients' transactions.

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For further information, please visit the government website. The legal system is based on English common law, supplemented by local ordinances. There are no taxes levied on business companies with the exception of the annual government licence fee, which is USD for companies with a maximum authorised share capital of 50, shares.

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Tax advantages, however, are by no means the only benefit to registering an international business enterprise in a jurisdiction like British Virgin Islands. A typical modern offshore company is a private corporation which is exempt from tax, suitable for virtually any international business activity, has a flexible organizational structure, is not subject to excessive accounting and reporting requirements and maintains certain level of confidentiality with rather limited information available to general public. The BVI offers all of these benefits — and more.

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The BVI Business Company, governed by the BVI Business Companies Act, and its subsequent amendments, is a widely accepted corporate vehicle among international investment fund managers and investors for its administrative simplicity. The legislation is flexible, with the goal of enticing legitimate offshore activities, and keeping out money-laundering and other criminal activity. There is no single approach that can be applied to every business.

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It replaced the extremely popular and highly successful International Business Companies Act. It came into force on 1 January The decision to replace the International Business Companies Act was driven by two things.

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The December enactment of the Financial Services Commission Act, established the British Virgin Islands Financial Services Commission as an autonomous regulatory authority responsible for the regulation, supervision and inspection of all financial services in and from within the BVI. The Commission maintains this public list of regulated entities for the benefit of market participants and the public. Search our library for financial services legislation, and guidance, the latest forms and industry and public alerts.

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This resource is periodically updated for necessary changes due to legal, market, or practice developments. Significant developments affecting this resource will be described below. Ask a question. Related Content.

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