Incorporate your business in one of the top jurisdictions:
British virgin islands
Reliable & Transparent: The British Virgin Islands is considered one of the world’s leading offshore jurisdictions. The comprehensive corporate registry includes approximately 800.000 registered International Business Companies. BVI company law is, like most of the British Overseas Territories, based on the English common law, whilst considering equitable principles, local legislation and statutory law. The BVI Business Companies Act took effect in 2005 and is the improved and modernized version of the abolished International Business Companies Act. Further updates ensure a furthering reliability and transparency, which includes a public company registry and – in the future – a shielded registry for beneficial owners.
As a response to stricter scrutiny of new and existing business, as well as recent additional requirements for administration and customer due diligence, the BVI enhanced its position by fostering reliability and transparency. The result is an even stronger jurisdiction for international business.
Fast & Efficient: The scope and nature of the British Virgin Islands as an offshore corporate jurisdiction has necessitated the government to structure a fast and efficient administrative procedure for company formation. To accommodate the needs of international businesses, the BVI invites licensed international professionals to introduce foreign customers willing to incorporate in the BVI.
BVI Company Formations is a product of Legal Floris LLC and Equation CS. Equation CS is a licensed corporate service provider and therefore qualified to help legitimate business people to set up companies in the BVI in a fast and efficient way. The incorporation procedures in the BVI are relatively straightforward, whilst our solid experience in the legal and financial industry also contributes to smooth incorporation. After the incorporation of the company, we help our trusted customers to open a bank account without the hassle and prevent them from future disappointments.
BVI companies may become victims of serious fraud and (offshore) bank failure. Also, offshore companies can be utilized by fraudsters to shield their illicit behavior and hide their ill-gotten gains. Legal Floris LLC is specialized in asset tracing, collection and recovery for victims of (offshore) bank failure and investment fraud, theft and embezzlement. Therefore, we advise victims of fraud in complex international recovery procedures.
The opening and maintenance of a bank account for offshore companies can be a daunting task. Banks are seen as gatekeepers and can be heavily penalized for regulatory violations and breaches of global standards that aim to protect the financial system. Our vast experience in offshore jurisdictions allows us to satisfy the requirements banks impose these days to open and keep bank accounts active.
Tax liability is, generally speaking, derived from the center of activities. Offshore companies often use the country of incorporation as their business base. The result is that, even when a beneficial owner is located elsewhere, corporate tax residency can be offshore. The BVI allow for such a position whilst granting the company resident status with all associated advantages. Corporate (applicable to the offshore company) and personal (applicable to the ultimate beneficiary) tax residency are distinct and must be handled accordingly.
Traditional holding companies do not trade, but passively hold shares in subsidiaries. Holding companies may receive compensation for management, share holding and other duties. As such, the scope and nature of these limited activities allow lawmakers to designate special standards. Risk mitigation involves the choice for a suitable company name and a detailed description of activities to avoid being considered a financial holding company.
Company formation and the subsequent incorporation is more than just the completion of paperwork to submit to the corporate registry. Standard memoranda and articles of association do not always justify business activities and financial transactions outside the scope of the defined pursuit. As a result, financial institutions and tax authorities do not always accept the reasoning of the owner, which clarifies the significance of tailor made and personal advice when incorporating offshore.
Nominee services for BVI companies aim to enhance substance and presence outside the country of residence of the beneficial owner. A civil agreement between the nominee and the beneficiary protects the rights of both parties whilst the exclusive duties are defined by the beneficiary. Furthermore, a nominee may provide another layer of confidentiality to the company. As part of our services package we can offer nominee services to BVI companies.