Benefits of BVI companies

The British Virgin Islands (BVI) offer many advantages of incorporating a company including:

  • Quick incorporation process
  • Exemption from all local taxes and stamp duty
  • Competitive fees and maintenance costs
  • Full confidentiality and anonymity
  • Law system based  on English Common Law with local modifications
  • A Business Company does not pay any tax on its world-wide profits to BVI authorities
  • A minimum of one director is required. Directors may be natural persons or legal entities, of any nationality and need not be resident
  • A company secretary is not a requirement but optional
  • One shareholder is allowed
  • Meetings can be held anywhere although there is no statutory requirement to hold annual general meetings
  • No disclosure or minimum capital requirements

There is no requirement to file audited accounts with the authorities, however each company must maintain reliable accounting records for a minimum of five years from the date of transaction.  The records must include satisfactory information explaining the company’s transactions.

Furthermore, the Registered Agent must maintain written record of the physical address of the place where the accounting records are kept.

FastCo provides you with specialized tailored solutions.  Our team is comprised of professionals who are fully qualified in their field of expertise, ranging from company formation to provision of fiduciary services.  Through our affiliate firms we also provide tax, accounting, audit and general administration services.

www.fastcoregister.com

 

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