The growing financial services and flourishing tourism- these are two most important components of BVI economy. The BVI economy is one of the most prosperous economies in the Caribbean region. Here the average monthly income of a worker in was recorded US$2,452 as per 2010 census data.
The economy is truly vibrant, and the tax system is friendly. So the place has become a favourite destination for financial services; and BVI turned into an offshore financial centre. In fact the license fees of the offshore companies contribute 51.8% of the government revenues.
However, if you want to make good use of the favorable and friendly offshore business environment of BVI, then go for BVI incorporation. However, while setting up your business, it is advised to take help from the expert corporate services so that you have a smooth experience without and legal and regulatory complexity.
Why Professional Services?
- The corporate services ensures legal and statutory compliance
- Incorporation of BVI Companies and Limited Partnerships
- Maintaining company documents like share registers, director registers and officer registers
- Managing the books and other important records
- Preparing resolutions and other corporate documentation adhered to corporate law and statutory regulations
- Attending to the necessary filing with the Registry of Corporate Affairs regarding
- Share Purchasing
- The registered agent must be given due diligence
- A reference letter might be requested along with the ID
(1) Name Changes, Amendments to Memorandum and Articles of Association,
(2) Changes in shareholders, directors or officers,
(3) variations in authorised capital,
(4) Drafting Charges or their release and their registration,
(5) routine company secretarial procedures,
(6) Special structured Articles and Memorandum
Some Necessary Information
- A standard BVI company has 50000 shares
- Any stated currency can be used to purchase the share
- However, BVI companies can have unlimited number of share (Extra registry charges needs to be paid.)
- The shares may belong to different class or series
- BVI statutory limited partnership can be a very effective tool in a new incorporation
- In limited partnership, normally a BVI company is attached in the process to limit the liability
- The company must have a general partner
Last Words
Formation of a company is a complex thing. There are many minor but no less important components. It is one thing to strategise and run a business; and completely different thing to form a new one. Formation needs professional and expert assistance to fulfil all the regulatory guideline and legal paperwork related to different levels of legal and regulatory compliances and taxes.
If you are planning BVI incorporation, hire a professional corporate service while you focus on what you do the best- the strategy making and running a business with expansion and growth as main goals. Search online to find a competent corporate service provider in BVI. Hire the best service provider at a competitive pricing; and most importantly, do not forget to check the customer review before hiring.