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BVI company registration

BVI Company Profile

The British Virgin Islands, or BVI for short, is an important center for the development of overseas business activities and one of the fastest-growing offshore investment centers in the world. Many well-known Internet enterprises, financial enterprises and investment enterprises have flocked here and registered BVI offshore companies.

British Virgin Islands (BVI) is the most famous and popular offshore registration place in the world. Nearly 1 / 4 of more than 1.7 million BVI companies are registered as Chinese enterprises. The purpose of registering BVI companies is mainly for overseas listing, tax avoidance and asset transfer. The biggest advantage of registering an offshore company in the British Virgin Islands (BVI) is that the offshore company can enjoy a very low or even tax-free tax preference, which is conducive to the tax planning and arrangement of enterprises.

Advantages of registration
1. Stable business environment: the political, economic and trade environment of BVI is very stable, providing a good business environment for offshore companies.
2. Tax system preference: BVI government provides extremely preferential tax policies for offshore companies, with less tax control, and offshore companies are exempt from all local taxes, which can achieve reasonable tax avoidance.
3. Policy encouragement: in order to attract foreign investment, BVI government allows unlimited number of shareholders of BVI company, and one person can register and establish a limited company.
4. High confidentiality: BVI government provides privacy protection for enterprises, and directors' information is absolutely confidential.
5. Bank advantages: BVI company can open bank accounts all over the world after registration.
6. Help enterprises to go public: in order to avoid policies and build vie structure to achieve overseas listing, BVI company is an important element of vie structure.
Condition of registration
1. BVI Company Name: BVI company is allowed to have Chinese and English company names, but Chinese and English names need corresponding translation. The name of BVI company includes international, group, holding, industrial, investment and other words.
2. Business scope of BVI company: business of any nature can be operated on the premise of legality; special industries such as finance, banking, credit, insurance, etc. need special approval from the government.
3. BVI company director: one or more persons; may be a natural person or a legal person (natural person has no nationality restriction and needs to be at least 18 years old); the director is a member of the board of directors elected by the shareholders, and the chairman of the director is the person in charge of the board of directors.
4. BVI company shareholder: one or more persons; may be a natural or legal person; the government protects the interests of shareholders without publishing the identity information of beneficiaries; the register of shareholders shall be kept in the BVI registered agent; the company can only issue registered shares.
5. BVI registered capital: the standard authorized capital is US $50000, divided into 50000 shares, each of US $1.00.
6. BVI registered address: the registered address of the company is located in the office of the registered agent, and the registered address is provided by the agent.
Registration process
1. Approve the proposed name of BVI company and determine the final quotation name in BVI;
2. Fill in the BVI registration application, power of attorney, sign the agreement and pay the advance payment;
3. Determine the shareholders, directors, share proportion and registered capital of BVI company, and then submit the corresponding information;
4. Go to BVI government departments for relevant formalities;
5. After the successful registration of the company, hand over a complete set of registered company documents and collect the balance.
6. File the documents, BVI company registration is completed.
Company operations

1.BVI company bank account

For the purpose of reasonable tax avoidance, BVI company must open a bank account. You can choose to open an offshore account in Hong Kong. Hongkong HSBC, Standard Chartered, Hang Seng and other banks can open a bank account of BVI company. Directors can go to Hong Kong for face-to-face signing or video face-to-face signing in China. It is better to choose a professional agency for offshore bank account opening。

2.BVI annual review

After the BVI company is registered, there is no need to make an account and report tax, but annual review is required every year, which is divided into two stages, as follows: ① in May every year, for example, the company registered from January to June should submit renewal application before May 1 of each year; ② in November every year, for example, the company registered from July to December should submit renewal application before November 1 of each year.

Common problem

1.How many shareholders do you need to register BVI company?

A: to set up a company in the British Virgin Islands, one shareholder is OK. Mainland Chinese only need to provide a valid passport.

2.Q: where can I open an account after BVI successfully registered?

A: BVI company can open an account anywhere in the world after successful registration. Generally, directors are required to personally sign a bank account. Generally, the bank account opening fees of BVI companies are higher, and different bank account opening fees are different.

3. Q: what is the annual audit fee of BVI company?

A: if the registered capital is less than 50000 US dollars, the annual audit fee will be about 700-800 US dollars. If the registered capital is more than 50000 US dollars, the annual maintenance fee will be about 1500 US dollars. The annual audit fee will follow the administration

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