Company formation in the BVI

The British Virgin Islands (BVI) is a typical tax-free jurisdiction in the Caribbean that is recognized as an offshore territory. The core of its territory is formed by 16 inhabited islands. The largest and most well-known is Tortola. Road Town is its administrative center. In 1967, this ex British colony became independent from the British crown.

Based on their business-oriented legislation, high level of confidentiality, favorable tax conditions and flexible company management structure, it is one of the most preferred offshore jurisdictions in the world. Not by chance this country has a high reputation as an offshore country - over 40% of the world's offshore companies are incorporated here. Opening a company is simple - it takes only a number of days.

Once a BVI company is incorporated, it must stick to straightforward post-incorporation procedures to maintain its reputation. The BVI offers a diverse range of corporate structures to meet different business needs, covering business companies, regulated entities and partnerships, giving the opportunity to create customized solutions to suit individual business strategies and objectives.

Get your business prestige and global recognition by selecting company registration in the BVI with the help of the Manimama team!

BVI

Legal Opinion about the BVI as a Jurisdiction for Company Formation

Ganna Voievodina

Manimama, CEO

“Registration of a company in the BVI gives it a high profile status due to the unique international recognition of this offshore jurisdiction. Additionally, the BVI is known for its superior standards of privacy and data protection, making it an increasingly attractive choice for entrepreneurs who value the privacy and security of running a business. Don't waste the opportunity and order your BVI company registration service from Manimama”.

Our Packages

Our comprehensive packages simplify the process of setting up the perfect legal entity for your business whether you are a small start-up, a non-profit company, or an international company. Let us guide you through every step, ensuring your business begins on a solid foundation.

Company Formation

€3,000

  • Company formation in the BVI
  • Opening a bank account
  • Registered address for 1 year
Order now

Annual Renewal

€4,000

  • Company renewal
  • Registered address
  • Annual Government Tax
Order now

Documents

€3,000

  • Certificate of Incorporation
  • Articles of Association
  • Appointment of the first director
  • Set of other required documents, depending on your corporate structure
  • Delivery to provided address
Order now

Key Numbers about the BVI as a Jurisdiction for Company Formation

from $550 to $1,350

registration fees for companies

minimum of 1

director/shareholder for a company

no

minimum share capital

0%

corporate income tax (CIT) rate

0%

personal income tax (PIT) rate

0%

value added tax (VAT)

Set up Your Company in the BVI in Several Steps

Step 1. Initial setup

  • Initiating a preliminary project assessment
  • Preparation and filing of the package of documents

Step 2. Company registration

  • Selection and verification of the company name
  • Facilitating the notarial process for the company's official registration
  • Preparation and submission of necessary forms and documents to the BVI Company registry
  • Payment of government fees
  • Obtaining the Certificate of incorporation from the BVI Company registry, Memorandum and Articles of Association
Duration: up to 2-3 weeks

Requirements for Company Formation in the BVI

Before deciding to set up a new company in the BVI, read the information below to understand the characteristics of an Business Company (BC):

Shareholders: it requires at least 1 shareholder, who can be individuals or companies and may be of any nationality.

Director: it requires at least 1 director, who can be individuals or companies and may be of any nationality.

Company Secretary: there is no mandatory requirement.

Minimum Share Capital: there is no requirement or minimum for the paid-up capital of a BVI company.

Legal Address: a company must have a registered office in the BVI at all times; the company's registered office must have a physical address and if the company's registered office is at the office of its registered agent, this fact must be stated in the address description in the memorandum or any other document.

Registered agent: the company must have a registered agent in the BVI and such agent must be approved by the Company Management Act of 1990 or the 1990 Act of Licensed Banks and Trust Companies; a BC is required to input the name and the address of the first registered agent.

Liability: limited to the amount of capital they have invested in the company through their shares.

Accounting: a company is required to keep records of its operations and financial position; it is also required to file an annual return with its registered agent within 9 months of the year-end to which the annual return relates.

Taxes in the BVI

Corporate income tax (CIT)

The BVI business company is exempt from corporate tax.



Personal income tax (PIT)

There is no PIT in the BVI.



Value-added tax (VAT)

There is no VAT in the BVI for a BC.



Double taxation avoidance agreements in the BVI: United Kingdom.

Start Your Company Formation Process with Manimama

There are numerous reasons why Manimama is the leading company formation agent in the BVI:

Expertise in Regulations of the BVI

  • 1. Manimama has an in-depth understanding of BVI's legal and regulatory framework.
  • 2. Our team ensures all legal requirements are meticulously met for a seamless company formation process.

Local and International Experience

  • 1. With extensive experience in both local and international markets, Manimama can cater to a diverse range of business needs.
  • 2. Our expertise spans various industries, providing customized solutions for each client.

Efficient and Timely Service

  • 1. We pride ourselves on our swift turnaround times, ensuring your company is registered promptly.
  • 2. Our efficient processes minimize delays and get your business up and running quickly.

Client-Centric Approach

  • 1. Manimama prioritizes customer satisfaction by offering personalized support and guidance.
  • 2. Our dedicated team is always available to address any concerns and provide expert advice.

Robust Network of Local Partners

  • 1. We have established strong relationships with local authorities, banks, and service providers.
  • 2. This network ensures that your business receives the best possible support and resources.

Ongoing Compliance Support

  • 1. We provide continuous support to ensure your business remains compliant with laws of the BVI.
  • 2. Our team keeps you updated on any regulatory changes that may impact your company.

Frequently Asked Questions

  • What are the main reasons to incorporate a company in the BVI?
    The main attractions include the absence of taxes, high level of privacy, flexibility in management and international recognition of the BVI legal system.
  • What is the process of registering a company in the BVI?
    In general, the registration process in the BVI includes choosing a company name, submitting an application, providing documentation and paying registration fees.
  • How long does it take to register a company in the BVI?
    The process normally takes from a few days to a couple of weeks, depending on the workload of the registration body and the completeness of the documentation provided.
  • Can a foreigner register a company in the BVI?
    Yes, foreign nationals have the right to register a company in the BVI.
  • Do I need to be physically present when registering a company in the BVI?
    No, you do not need to be physically present.
  • Should I have a registered agent or an office in the BVI?
    Yes, a BVI company is required to have a registered agent and office at all times unless it is in the process of liquidation.
  • What taxes are provided to companies registered in the BVI?
    There are no income, capital gains, estate, inheritance, succession or gift taxes and no withholding taxes on dividends, interest and royalties in the BVI.
  • What annual fees are required to maintain a company in the BVI?
    The annual fees for maintaining a BVI company comprise government and registered agent fees. These are obligatory and failure to pay them may result in fines or striking the company off the BVI register.
  • What are the requirements for choosing a company name in the BVI?
    A BVI business company cannot be registered under a name that is identical to the name of an existing BVI company or strongly resembles the name of an existing BVI company. Also, the company name must not contain offensive or prohibited words.
  • Do I need to make a deposit to the authorized capital of a BVI company?
    There is no need to make a deposit of authorized capital. The standard authorized capital is USD 50,000 but it can be changed according to your requirements.

Client Feedbacks

"The process of the company registration in the BVI was simple and fast, and the Manimama team was always available to answer our questions. We are very grateful to Manimama OU for their help".

"I am very satisfied with the work of Manimama OU. They are professional, competent and always ready to help".

"Thanks to Manimama OU I was able to register my company in the BVI without any problems and now I can confidently develop my business on the international market".

Manimama as the Best Solution for Your Company Formation in the BVI

Choosing the right partner for company registration is crucial for a smooth and successful business launch. At Manimama, our legal experts specialize in navigating complex legal landscapes, providing holistic solutions tailored to your needs.

Comprehensive Legal Expertise
Since our inception, Manimama has been at the forefront of tackling intricate legal challenges with innovative and thorough solutions. Our team of dedicated lawyers evolves alongside our firm, reflecting our people-centric philosophy and commitment to excellence.

Results-Driven Approach
Manimama is a results-oriented law firm that offers an extensive array of legal services to both individuals and corporate entities. We pride ourselves on maintaining the highest standards of integrity and a "client-first" approach, leveraging our extensive skills and knowledge to achieve the best outcomes for our clients.

Global Presence and Local Expertise
Our journey began with the establishment of Manimama OU's first European office in Estonia, a country renowned for its progressive regulation of virtual currencies, international investments, fintech, and gambling sectors. Estonia’s favorable tax system and digital-friendly investment climate provided a robust foundation for our expansion.

Community Commitment
At Manimama, we believe in giving back to society and making a positive impact. Our commitment to social responsibility is integral to our operations, ensuring that we contribute to making the world a better place while helping our clients achieve their business goals.

By choosing our company formation service in the BVI, you are partnering with a law firm that values integrity, expertise, and client satisfaction. Let us help you set up your company in the BVI and pave the way for your business success.

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The content of this article is intended to provide a general guide to the subject matter, not to be considered as a legal consultation.