Registering a Company In British Virgin Islands (BVI) Law and Taxation The legal system is based on English common law supplemented by local ordinances.
There are no taxes levied on BC's with the exception of the annual government licence fee, which is US$800 for companies, with the number of shares that are authorised for issue being equal to 50,000 or less.
Companies that fail to pay their licence fee by the due date are subject to penalties and will be struck off for non-payment five months after the due date. There are no exchange controls or restrictions on the flow of currency in or out of the territory.
Registering a Company In British Virgin Islands (BVI)
To purchase a ready-made company (14Days)
To tailor-made a company (2 Days)
1) 1 Certificate of Incorporation
2) 2 original M&A and 5 copies
3) 7 shares certificate
4) 1 set of chop – 1 seal, 2 chops
5) 1 set of appointment documents
British Virgin Islands (BVI) is a group of about 40 islands. It takes approximately 25 minutes flying time from east of Puerto Rico where situated between the Atlantic and the Caribbean. Being a member of the British Commonwealth, BVI applies a legal system based on English Common Law (its Business Company Law includes some terms in Delaware Law), which operates in concert with local acts.
Because a BVI company is not required to pay tax, nor bound to foreign exchange controls, and information for submission for filing requested by local government is minimal, many multinational companies and persons are attracted to register BVI companies. At present, BVI has become one of the most popular places globally for offshore registration.
Advantages Of BVI Company Incorporation
No tax shall be declarable and payable
Registered capital is not required, and bank accounts can be opened all over the world
Companies can use Chinese names
It's not required to submit audited accounts
Privacy protection is provided, and it's not required to disclose the identity of shareholders and directors
There shall be at least one shareholder and director over 18 years old
There shall be a local person or company to act as agent