Incorporation costs in Year 1 amount to US$2,920 and annual company costs in Year 2 and thereafter amount to US$1,100.
Fees.
| Different BVI entity types | Cost | Draft invoice |
|---|---|---|
| IBC | US$9,570 | View invoice PDF |
| Limited partnership | US$10,850 | View invoice PDF |
| Resident company | US$17,230 | View invoice PDF |
Contents
How do I incorporate my business in BVI?
Process
- STEP 1 – SUBMIT INCORPORATION ORDER FORM FOR BVI COMPANY INCORPORATION. Please provide us your email address in the package details and we will email you the necessary incorporation forms.
- STEP 2 – MAKE PAYMENT FOR OFFSHORE COMPANY.
- STEP 3 – INCORPORATE BRITISH VIRGIN ISLANDS COMPANY.
Why do companies incorporate in BVI?
A BVI company can be incorporated quickly, with a flexible organisational structure and minimal financial reporting requirements. BVI companies are ideal for startup companies as they can be operated from anywhere in the world and there are no restrictions on where a BVI company can carry out its business.
How much does it cost to set up an offshore company?
Establishing an offshore bank account in this way could cost between $550 to $750, plus the cost of setting up the offshore company. An offshore company typically costs between $1585 and $3,495. So, one could expect the total offshore account costs to be about the $2135 to $4,245 for both.
Does BVI company need to pay tax?
BVI Business Companies are exempt from the BVI income tax, from tax on dividends, interest, royalties, compensations and other amounts paid by a company; also they are exempt from all the capital gains, estate, inheritance, succession or gift tax with respect to any shares, debt obligations or other securities of the
Does a BVI company need a secretary?
There is no legal requirement for a BVI company to have a company secretary following its incorporation. There is no minimum number of directors that a BVI company must have and it can have either individual or corporate directors.
Are BVI companies required to file accounts?
There are no strict reporting requirements in BVI and an IBC does not need to prepare financial statements or company accounts. The company should maintain only those accounts or records which the company directors consider to be necessary for their own use; and these can be kept anywhere in the world.
Is BVI a tax haven?
Benefits of BVI as a Tax Haven
A BVI offshore company pays zero income tax. There is no British Virgin Islands tax on capital gains tax, nor are there gift taxes, inheritance taxes, sales taxes, or value added taxes.
What are the advantages of a BVI company?
The main advantages are: (a) total absence or minimum levels of taxation; (b) confidentiality, due to no sensitive personal information available on public file; (c) corporate flexibility: no paid-up capital requirements, no requirement to state operational objects, minimum conditions on directors and shareholders,
Why is BVI offshore?
BVI has one of the most flexible offshore corporate structures available to international business people because: BVI government has implemented a 0% tax rate on corporate taxes for offshore entities;There are no mandatory requirements for filing of company’s audits, taxes or financial information.
How much does an offshore bank account cost?
The setup fee for opening an offshore bank account is usually between $550 to $1,250. This depends on the bank and the jurisdiction. An offshore company typically runs between $1,685 and $2,495.
Why do companies go offshore?
A common reason to set up an offshore company is to meet the legal requirements of the country where you want to buy property. For example, I own property in Malaysia where it’s possible to own property through select foreign companies. In many countries, this is not possible.
How much does it cost to incorporate company in UK?
It costs £12 and can be paid by debit or credit card. Your company is usually registered within 24 hours. If you do not want to use ‘limited’ in your company name you must register by post.
How much is income tax in BVI?
Introduction. Individuals in the BVI pay no income tax, land or housing taxes. There is no capital gains tax, wealth tax, inheritance or gift taxes, sales tax or VAT. Stamp duty is payable on some transactions and there is a payroll tax of between 10% and14%, split between employer and employee.
Do BVI companies pay stamp duty?
Stamp duty is only imposed on the transfer of shares of a BVI company if that company owns land (directly or indirectly) in the BVI.
Is there stamp duty in BVI?
In the context of BVI property transactions, stamp duty is typically paid by the purchaser.
Can BVI company open bank account in Singapore?
Yes, you can open a bank account for your BVI company in Singapore. For those who own foreign companies, the owner needs to submit required documents to the banks including Certificate of Incorporation, Certificate of Incumbency, Memorandum of Association and Articles of Association.
Can a company be a director in BVI?
Virtually anyone/entity may be appointed a director of a BVI company, so long as they are not under the age of 18, an undischarged bankrupt or disqualified under the Insolvency Act or the memorandum and articles of association of the relevant company.
Do BVI companies file annual returns?
BVI BC’s are not obliged to prepare or file financial accounts, annual returns or records. Also, there is no requirement to prepare and file financial declarations that are usually associated with income tax reporting.
What is a BVI registered company?
A BVI company is a corporation one or more people or entities form in the British Virgin Islands. The term International Business Company or IBC is the official name for what most people think of as “offshore companies” according to Fidelity.
Are British Virgin Islands safe?
Crime. Levels of crime in the British Virgin Islands are relatively low, although serious incidents do occur including armed robbery and drug-related gun crime.
