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British Virgin Islands
Company Formation Services
Compliance and Procedures
[/vc_column][/vc_row][vc_row top_padding=”20″ bottom_padding=”50″][vc_column width=”1/2″][vc_column_text]Procedure to Incorporate
Submission of the Memorandum and Articles of Association and a Certificate from the Registered Agent confirming compliance with the requirements of the ordinance.
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Restrictions on Trading
Cannot trade within the British Virgin Islands or own real estate there. Cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship, the rendering of investment advice or any other activity that would suggest an association with the banking or insurance industries. Cannot offer its shares for sale to the public.
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Powers of Company
A company incorporated in the British Virgin Islands has the same powers as a natural person.
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Language of Legislation and Corporate Documents
English.
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Shelf Companies Available
Yes.
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Disclosure of Beneficial Ownership to Authorities
No.
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Language of Name
Latin Alphabet. Any name in a language other than English must be accompanies by a translation to ensure that the name is not restricted. The BVI Business Companies (Amendment) Act, 2012 provides detailed guidance on the use of foreign character names in the naming of the BVI Business Company.
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Registered Office Required
Yes, must be maintained in the British Virgin Islands, and must be maintained at the office of a licensed management company.
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Time to Incorporate
Two days.
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Name Restrictions
Any name that is identical or similar to an existing company, or any name that suggests the patronage of the Royal Family or the Government of the British Virgin Islands. The BVI Business Companies (Restricted Company Names) Notice 2013 brings the number of restricted words or phrases whose use is restricted to 217.
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Names Requiring Consent or Licence
Bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents.
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Key Corporate Features
[/vc_column][/vc_row][vc_row top_padding=”20″][vc_column width=”1/1″][vc_row_inner el_id=”margin”][vc_column_inner width=”1/2″]General
Type of Company: BC
Type of Law: Common
Our time to establish a new company: 2 days
Corporate Taxation: Nil
Double Taxation Treaty Access: No
Government fees for number of issued shares not exceeding 50,000: US$ 350
Government fees for number of issued shares exceeding 50,001: US$ 1,100
Share capital or equivalent
Standard currency: US$
Permitted currencies: Any
Minimum paid up: US$1
Usual number of shares issued: 50, 000
Directors
Minimum number: One
Local required: No
Corporate Directors Permitted: Yes
Publicly accessible records: No
Location of meetings: Anywhere
Share capital or equivalent
Standard currency: US$
Permitted currencies: Any
Minimum paid up: US$1
Usual number of shares issued: 50, 000
Accounts
Requirements to prepare: Yes
Audit requirements: No
Requirements to file accounts: No
Publicly accessible accounts: No.0
Company Secretary
Required: Optional
Local or qualified: No
Shareholders
Minimum number: One
Publicly accessible records: No
Location of meetings: Anywhere
Other
Requirement to file annual return: No
Change in domicile permitted: Yes
Contact Us
Should you require additional information, request a quotation or clarify any related matter, please contact one of our Consultants who will be happy to assist with your enquiries.[/vc_column_text][contact-form-7 id=”5″][/vc_column][vc_column width=”1/2″][vc_column_text]
Disclaimer
COI ´s services are subject to its Terms and Conditions.The information provided by COI is intended as informative material and should not be relied solely upon in decision-making, especially if it concerns international tax planning and financial structuring as these areas are subject to frequent changes, although its efforts to keep all information on its website regularly updated.
COI strongly recommends that each potential user of its services seek tax and legal advice before deciding on implementing a solution employing international financial structures. COI will not be liable for any damages, costs and expenses resulting from or incurred as a result of any action taken or omitted based upon any such information provided by COI.
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