How to Register an Offshore Company in the BVI

Registering for an International Business Company or an offshore company the best legal way known thus far for asset protection and maximized profits. The top reason for these companies is that as an international company, you are not required or obliged to pay taxes in the country you chose. One such state that you can register and conduct an offshore company would have to be The British Virgin Islands territory or the BVI.

As we have seen, the top advantage of this type of company is that you do not have to pay the taxes imposed on all other BVI businesses, as you are not a citizen of the BVI. The only thing that you cannot do is actually own residential property or any other kind of real estate or do any direct transaction with a BVI national. You are allowed to hold meetings and handle your records and books within the state’s borders; you are also allowed to have shareholders and directors of BVI origin as long as they are approved. There is no minimum or maximum amount set on how much capital can be put down, although the standard capital is about $50,000. In addition, the requirements for you to register a company are minimal. All you need to do if fill out the online forms or the forms sent to you by the firm that is handling the registration for you and you must send in your passport as positive proof of identification and also utility bills not older than 3 months. In addition, you must send in your shareholder’s identification and contact details and their bank statements and of course, the necessary fees and you are all set.

Among the requirements that you must obtain to be good and ready to have a company in the BVI includes the Memorandum and Articles of Association which are basically the bylaws that your company will work by and also you must state what your company is all about and how much capital is being put in and so on. You also need a Certificate of Incorporation to prove that your company has officially been given the go ahead to exist and run. You also need a list of shareholders and directors. In as much as their names will not appear on the documents handed to the government or council, there needs to be a minimum of one of each to get a go-ahead to run the company. You also need a company Seal that is one of the local requirements to registering a company. Most of the times while the consultant or firm that you are creating the company through are registering the company for you, they will organize the Company seal for you upon request. In conclusion, if you want to pay less or no tax on your profits, have little or no scrutiny on your business activity (as long as it is legal) by the local council then registering an offshore company in the BVI.

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