BVI Company Formation
Establish Your Business in BVI
British Virgin Islands (BVI) is a preferred destination for offshore company formation. International businesses set their base in BVI to enjoy tax benefits, economic growth, and a business-friendly environment. You need complete support with the BVI company formation in Dubai for this.
FAME can help you with all the procedures for the BVI offshore company formation. As an expert in business setup processes, documentation, and getting approvals, we make you ready for operations. You get professional handholding throughout the BVI company formation journey.
Looking for help with BVI company formation in Dubai?
You’re at the right place – FAME for quality services.
Benefits of BVI Company Formation in Dubai
International business companies offer you the benefit of the location where you form your company. One such famous territory for offshore businesses is the British Virgin Islands.
A British overseas territory in the Caribbean, BVI offers many benefits to international businesses. That is why the BVI company formation in Dubai is a popular prospect for many entrepreneurs. These benefits include the following:
01
Political and Economic Situation
The political situation in the BVI is stable. The government also supports the development and establishment of BVI offshore companies. Tourism and financial services sectors contribute to the Islands’ economic growth. The BVI’s infrastructure, advanced facilities, and technological innovations make it a preferred destination for businesses.
02
Hassle-Free BVI Company Formation Process
The BVI offshore company formation process is easy and straightforward. You need not undergo many steps or submit several documents. Also, the incorporation is affordable since you do not need a minimum share capital.
03
Tax Benefits
One of the most critical benefits of a BVI company is tax benefits. You are exempt from income taxes. No taxes on royalties, interests, dividends, or other compensation forms exist. Moreover, your debt obligations, securities, or shares are free from taxes on gifts, succession, real estate, or inheritance.
04
Confidentiality
You can maintain high levels of confidentiality and privacy for your business in BVI. You need not declare your register of directors and shareholders or mention them in your incorporation documents. Only if the court asks do you need to show it to them. You can also maintain the confidentiality of beneficiaries by shareholder/s and director/s nominee services.
05
Cash and Currency Benefits
There are no restrictions on movements of cash flow. Also, exchange currency controls are not applicable in the BVI.
06
No Audit and Accounting Requirements
Conducting audits and submitting financial and accounting statements is not mandatory in BVI. You are also free from filing accounts or records with authorities. You have the flexibility to maintain such accounting records anywhere else in the world.
07
Directors Meetings
A meeting of director/s and shareholder/s is not mandatory. If the directors/s and shareholder/s want, they can hold meetings anywhere in the world. They can meet via phones or other electronic communication means; the only condition is they must be able to hear each other.
08
Local Benefits
You can keep accounts in the BVI and also open bank accounts in local banks. You also have the flexibility to rent an office space in the islands. You can hold 100% ownership in your company without the need for a local sponsor. You can repatriate 100% of your capital and profits.
Prerequisites and Features of BVI Offshore Company
For BVI company formation, you need to follow certain rules and conditions. You must be aware of these prerequisites before considering BVI offshore company formation:
01
Capital Requirements
You must have a registered capital of US$ 50,000 or an equivalent amount in another recognizable currency. You can have one share as paid-in and issued capital, which is fully paid.
02
Permitted Legal Structures
Your BVI company formation is possible in the following legal structures:
- A restricted purpose company
- A company limited by guarantee or shares A segregated portfolio company
- An unlimited company
03
Share Issuing
You can issue shares of your BVI offshore company with or without par value. These can be paid up in cash, through transfer of other assets, or some other consideration. Also, share issuing is possible in one or more recognizable currencies.
04
Restricted Business Activities
You cannot engage in the following business activities:
- Banking
- Asset management
- Public offering of shares
- Insurance and reinsurance
- Fund and trust management
As an international business company, you can conduct business outside BVI, except for activities like banking or financial services that need additional licenses or illegal activities.
05
Shareholding and Directorship
A person or a corporate entity from any country can act as a shareholder and a director. And only one of them is essential to form a company. One person can act as both. BVI company formation does not require a resident secretary.
06
Accounting and Audit Requirements
You do not need to submit accounting statements; you can create and maintain them as you wish. There is also no need for audits or the submission of audit reports.
07
Flexibility
You cannot do business with BVI companies or residents, provided you conduct directors’ meetings, maintain records, or have a property on lease for use as an office in BVI. If you have professional contacts with local companies in BVI or hold shares or debt obligations in them, you can conduct business with them.
08
Company Name
Your company name must end with Limited, Incorporated, or similar permitted endings to reflect its legal structure. You cannot have a name similar to existing registered companies in BVI. The name must not have the words – British, Mutual fund, Bank, Insurance, Forex, Trust, Exchange, leasing, Royal, BVI, Financing, and similar other words.
09
Documentation
BVI offshore company formation procedure requires the submission of the following documents:
- Copy of the passport certified by an accountant, bank manager, or lawyer.
- A bank reference letter in original from any bank in the world
- Recent utility bill in original as address proof of the shareholder/s
- A document mentioning three proposed company names, share percentage, and company’s proposed business activities.
The Procedure of BVI Offshore Company Formation
FAME is a leading name in the field of international business company formation in Dubai. Our knowledge of the local and international business setup procedures gives us an edge over others. With this knowledge and experience, we ensure quality and accurate services without any hassles.
The following are the steps of BVI offshore company formation in Dubai:
Step 1: In the first step of BVI company formation, you must select the preferred legal structure.
Step 2: It involves submitting three potential names of the entity. You must follow the BVI company naming rules.
Step 3:: Now, you must submit the names of the director/s and shareholder/s, along with their details on nationalities, full names, birthdates, and addresses.
Step 4:: Fill out the application form and submit it along with the documents to the BVI Company Registry.
Step 5:: Your company is incorporated within a week. You can now start your business operations.
Thus, you get end-to-end assistance from FAME’s advisors at each step. Our consultants and business advisors have relevant expertise in BVI company formation and other international destinations. Complete support and handholding throughout BVI company formation in Dubai is our forte. Our business setup analysts ensure everything is in order to expedite company incorporation.
Interested in setting up your offshore business in BVI?
Take the first confident step by contacting our consultants.