The Offshore Business Law of the BVI Land

Jan. 21, 2010 - PRLog -- This meant that international companies could incorporate their companies in the BVI for reasons ranging from paying less or zero percent tax on their business and for finance and asset protection from local governments.

http://www.cclogic.com/register-offshore-company-online/bvi-company-formation.html

The BVI is a part of the United Kingdom on certain aspects like defense but is self-governed by a Chief Minister. The main currency in use is the American Dollar meaning that doing offshore business is made much easier when it comes to foreign currency exchange. Under the 2004 laws, a new company can use a name of a company that is no longer in the BVI Company’s registry. According to the laws, you must be given a written consent or approval to run a BVI company. Your actual details and name do not have to be in the details but a location within the BVI must be put down. Regularly in the BVI, a local business must have two or more members. The business must ensure that shares are not constantly transferred and the company is not allowed to have more than 50 members. A local company cannot invite the BVI public to purchase shares in the company. With an international business company, you merely need one director and one shareholder and they do not have to be of BVI nationality. The common ground that the two types of companies have is the fact that there is an annual business registration fee of $250.

The registration of a BVI international business can take up to 3 days. In terms of the shareholders or directors, it does not have to be an actual person as a corporate body or company can be registered as any one of these. Shares can be purchased in any acceptable foreign currency and can be paid for in cash or transference of acceptable assets. There is no set minimum capital although the standard capital recorded has been $50,000. The newly registered company can have an office in the BVI but one cannot own residential property or any other form of real estate. The company does not need to have a secretary. The names of the actual directors or your company need not be on the registration documents hence promoting anonymity where needed. Once a company has successfully registered in the BVI, then you are entitled to pay 0% tax for a period of 20 years. Directors and shareholders do not have to meet physically in the BVI for meetings as this can be done electronically. Your company is also allowed to hold meetings and settle records within BVI territory.

The BVI laws do allow for asset and company protection for International Companies and charge no tax on any business in the BVI making this a very viable.

http://www.cclogic.com/register-offshore-company-online/b...

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