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The British Virgin Islands

This is the overseas territory of the United Kingdom. There are fourteen different territories under the United Kingdoms’ sovereignty but they are not a direct part of the United Kingdom itself. They are referred to as the British Virgin Islands to distinguish them from the American territory. They were also formerly known as crown colonies or simply colonies.

Tax is defined as a financial charge or levy imposed on an individual or legal entity by the state or a functional equivalent of the state. Failure to pay the required tax is punishable by law either through civil or criminal penalties to the non-paying entity, whether individual or company. Taxes are either direct or indirect and they can be paid either in cash or in labor. Taxation is not voluntary for any company or individual but it is enforced to support the government as it undertakes the different functions required in running the country successfully. In this respect, the BVI’s are considered tax havens. A tax haven is defined as a country where taxation is either low or nonexistent. Different countries around the globe have different tax havens for different categories of people and or companies. This is largely market driven. The government of the day is responsible for coming up with the necessary legislation and incentives to attract their target market to invest off shore companies in their country.

An off shore company is a company that is established outside its principal area of operation. Sometimes, this company is also referred to as a non-resident company. This type of company is formed within an off shore financial center in the country of choice. As of June 2008, there were 823,508 off shore companies registered in the BVI. Since 2001, the Independent financial services commission has regulated financial services.

Tax havens generally have the following characteristics. Firstly, they self promote as off shore financial centers. This is a low tax, lightly regulated jurisdiction. This jurisdiction specializes in providing commercial as well as corporate infrastructure in order to facilitate off shore investments be they off shore funds or the creation of off shore companies. They have nominal or nil taxes and they have no requirement for any substantive local presence. They also do not have any effective or transparent exchange of taxation information with foreign tax authorities.

Lastly, off shore financial centers lack transparency as far as legal, administrative, or legislative provisions are concerned. Within the BVI’s, 51% of the government revenue is from taxation arising from the establishment of offshore companies. This revenue arises from the issuance of licenses for these companies in question and from the taxation levied on the company’s employees. Forty one percent of the companies within the BVI are off shore making this the largest proportion of off shore companies in the world. The per capita G.D.P as of 2004 was 38,000 dollars. The main pillars of the economy are tourism and financial services although financial services are more popular because of better pay for the employees.

We provide the following company formation services, Seychelles Company Formation |Belize Company Formation| Offshore Company Formation | BVI Company Formation | Bahamas Company Formation

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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.

We provide the following company formation services, Seychelles Company Formation |Belize Company Formation| Offshore Company Formation | BVI Company Formation | Bahamas Company Formation

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Of the 60 islands that make up the British Virgin Islands or the BVI, only 16 of these found off the South American Coast are inhabited. It is a member of the Commonwealth and its main currency is the US Dollar. About 80% of the residents are of African origin. Its business laws are some of the most flexible in the world and this is because they incorporated a clause that allows for International Business companies, or IBCs, to register or incorporate their companies in the BVI territory for the principal purpose of asset and financial protection and for business anonymity.

There are a few restrictions stipulated within the same laws. To begin with, you are not allowed to get into any business deals or transactions with BVI locals or direct use of BVI companies for transaction. You are also not allowed to run a banking business or run a company management establishment within the BVI. Most of all you are not allowed to own residences or real estate in the BVI. You can however, seek the advice of local professionals like lawyers and asset managers. You can also run an office on rental basis where you can hold meetings and manage your records. You are also allowed and sometimes encouraged to hire BVI residents in your company, although this is not a primary requirement.

To register a company in the BVI, you can get an order form online on the relevant consulting firms that can and will assist you in the registration. All you need to do is pay the necessary fees, submit your accurate contact details, and provide positive proof of identification, your passport especially. You can come up with the company name and seal and also director/s and/or shareholders as is required by the Registrar of Companies in the BVI. However, there are consultants that can come up with the company name, seal, and provide a director depending on the pay packages offered. This registration process takes up to 3 days to complete. They will send you the necessary documents that prove you have registered for an offshore company and some also offer services like manage your company meetings for you and also manage your records.

Once all of this is done, then you are well on your way to enjoying asset protection courtesy of your offshore business and you are also exempt from paying any taxes for a period of 20 years. You do not need to manage your assets in accounts and hence no need for an auditor to assess your finances. You just need a minimum of one director and shareholder, which can be the same person and it can be a corporate company or body. You also do not need to have a secretary in your employ. Registering your company in the BVI will protect your finances and give you the major benefit of not paying taxes on any of your profits made as an international business registered in the British Virgin Islands.

We provide the following company formation services, Seychelles Company Formation |Belize Company Formation| Offshore Company Formation | BVI Company Formation | Bahamas Company Formation

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When considering entering into any type of Investment you should consider having an Offshore Company for instant in Belize, BVI, Cyprus or Seychelles to execute the investment. In the mentioned offshore jurisdictions a company don’t have to pay tax if the company is registered as Offshore International Business Company (IBC), many private investors all around the world have already explored the great advantages a Offshore Company which purpose is to make medium to large investments can give.

An Offshore Company Formation isn’t any difficult and can take place within a few weeks; the most important is to have a good and solid offshore bank available where the offshore company can open a business bank account for the purpose of Investment, Forex Trading and other banking activities.

Beside the tax advantages also the privacy and security is a factor which let many investors and business people in general enter into an offshore company formation. An Offshore Company which is duly incorporated in some of the above mentioned countries gives the beneficial owner a 100% anonymity and protections against liabilities and creditors.  Even if the investment is considered high risk then a offshore company has its advantages.

For active Investors or business which are growing fast it is crucial to be agile and to extend the activities of the operation as it grows, with an Offshore Company in the top it is easy to register new companies in other places of the World without to consider any tax or trading regulations which could stop or make it even difficult to expand.

Further to the Online Investment opportunities you also find investments in property abroad from where you are resident. Often huge TAX implications are the result of such investments which can be avoid if the offshore company formation has taken place before the investment is executed. For property investments we recommend to have a Offshore Trust in Cyprus to execute the deal or at least to have the Trust in Cyprus to have to register a Offshore company throughout the investment is made.

Typically Europeans get in troubles if they even through some regular European Company have made any property investment abroad, the taxation of the beneficial owner is guaranteed and often this are at a taxation rate in the range of 10 to 20% of the total investment, this is annually. If the property investment is made through an Offshore Company for instant in Belize, BVI, Cyprus or the Seychelles those tax’s can be avoid!

CCLOGIC LLC has specialized in the Offshore Company Formation and Offshore Trust Formation in the major offshore jurisdictions all around the world, we operate through secured locations and never keep any records. By many years we have served our clients in the opening of Offshore Bank Accounts for almost any purpose and in the registration and duly incorporation of Offshore Companies in Belize, BVI, Cyprus and the Seychelles.

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I have been looking into the Offshore Company Formation in Belize, Cyprus and Seychelles, but I can really not figure out why I should go for an offshore company formation in one of those countries or maybe should I incorporate in all of these offshore jurisdictions?

My business case is the following; I have been selling Electronic devices like IPods, Computers, Iphones and such things and have been very successful now for many years. During the years I have been busy and just paid the Company Tax and Income Tax I must as everyone else have.

For just a few weeks ago I came to read an article on the local papers where they described how it was possible to setup an offshore company structure and by doing so, save taxes and also protect all the assets which have been build up and earned during the years.

Now I wonder what would happened if I don’t go with an Offshore Company Formation and due to the financial crisis raging will lose my business, would I really have something left over once the creditors have been there even if it is a LTD or LLC in my local country? Or would I have lost everything in one shot?

I don’t mind to pay TAX as long as it is reasonable, to pay tax both for my company and personal tax is starting to annoying me, since it is itself at the moment very difficult to compete with the competition, so now I’m investigation all aspects of the Offshore Company Formation to be prepared, just in case.

Above is what we found on a forum and I personally find it very interesting to read since this must be some consideration every business man or Investor should do.

Now I will quickly try to explain just 1 option here, the possibilities are many and we don’t claim here that the below will be the only option but will rather advice to contact some professionals which have the experience and the knowledge to make any advice on this area, typically this is a registered Auditor or Lawyer which can help.

Now to the solution for the proper Offshore company Formation and company structure.

If above hypothetical case is what we look at, then the first step would be to incorporate a offshore company in one of the following offshore jurisdictions, Belize, BVI or Seychelles, those countries offer the best possibility for anonymous company formation, now when registered properly (I will not go into details here how it is done), we will on behalf of the above company register a company in Cyprus which we only will use to conduct business with. The Cyprus Company will be registered with Nominee Shareholders and Directors as foreigners and we will not reveal our self as beneficial owner since it will be the other offshore company which will own the company.  Now we would suggest to become a Cyprus Bank Account for this company (which is easy to become) and if needed a Merchant Account (which also is easy since it is part of the EU)

Now you will have the perfect solution for your issue and no one will be able to control how much TAX you will have to pay, no creditor will be able to access your assets and as an Investor you will be fully legit to invest in any Stocks, Company and even conduct Forex Trading as a legit company.

Contact CCLOGIC LLC for more information : www.cclogic.com

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The term Offshore company Formation is covering a lot of different offshore jurisdictions around the world, just to mention a few of them, Belize, Seychelles, BVI and Cyprus are those offshore jurisdictions there are several more and it depends very much on your type of business and which products or services are sold when you plan a offshore company formation.

An important part when you consider registering an offshore company is, that you are able to become a offshore bank account for the company, without a bank account your offshore company is worth nothing.

If the reason for an Offshore Company Formation is for liability, assets or privacy protection we often suggest to carefully planning your company structure. For instant it isn’t always enough to just have one company in an offshore jurisdiction if the purpose is assets or privacy protection. In these cases we recommend to have a Holding Company in for instant in the British Virgin Island, Belize or Seychelles and have the company with which you are conducting business be located in Cyprus.

To have a Offshore Holding Company outside of Europe and in an Offshore jurisdiction like Belize, BVI or Seychelles has the benefit that you can incorporate it anonymously which gives you the privacy and assets protection which in this example is the main purpose.  To top up this and to not limit yourself or your business it is a great benefit to have your business take place in a Cyprus Company since Cyprus first of is part of the European Union which makes it less difficult to become a Bank Account for your day to day banking and if you conducting Online Business to become a Merchant Account to accept credit card payments.

A Cyprus Company can be registered by a Company in for instant Belize, Seychelles or BVI and those Offshore Companies can also be side to be the shareholders act as Directors for the Cyprus Company.

When you want to take out your profit in the Cyprus Company it can easily and with no obligations to TAX be transferred to your Offshore Company located in the offshore jurisdictions mentioned above.

We are specialized in the setup of entire Offshore Company structures which includes the opening of Bank Accounts, Merchants Account and registration of companies in the offshore jurisdictions, Belize, BVI, Seychelles and Cyprus. Please do not hesitate to contact us for additional information or visit our website.