From Zero to Business Hero: Register Your BVI Company Today

The British Virgin Islands (BVI) is a world-famous top-tier offshore jurisdiction with excellent tax planning opportunities. Its well-crafted legislation, alongside strong confidentiality protections and a stable economy, makes the country an attractive destination for businesses. Companies registered in the BVI are often employed for international trade. The other uses are holding, consulting, and asset protection.

As a competitive financial center, the BVI comes with a unique chance to purchase ready-made (or shelf) companies. This is an excellent opportunity for you to quickly start international business operations without any long registration process.

Why register or purchase a company in the British Virgin Islands

A company registered in the British Virgin Islands is a highly effective tool for business and investment. Here are the main reasons to consider incorporating or buying it:

Low Tax Obligations: BVI-registered international companies are exempt from corporate income tax. If a company earns income outside the BVI, it is classified as a foreign entity and is not required to pay taxes or submit reports in the BVI. The only required payment is an annual state duty.
Ease of Management: Company owners are not obligated to conduct audits or hold meetings in the BVI. Corporate records can be maintained anywhere, allowing for remote management without relocating to the BVI despite the jurisdiction’s appeal as a Caribbean resort.
Flexible Founder Requirements: There are no minimum capital requirements and no need to appoint a local director.
Business-Friendly Environment: Local laws ensure transparency in property rights transfers and encourage foreign investment.
High Confidentiality: The identities of company owners and directors remain private and are not disclosed to the public.

BVI shelf companies: quick start, no hassle

A ready-made or shelf company is one that is already registered with the BVI authorities. This allows new owners to bypass the time-consuming process of establishing a business from the ground up and start operations immediately upon signing the purchase agreement.

When purchasing a shelf company in the BVI, the buyer chooses from several options, including Limited Liability Companies (LLCs), Unlimited Liability Companies, and International Business Companies (IBCs). You can buy any of these entities within two days. They already come with corporate bank accounts. As a BVI shelf company owner, you are free to appoint new directors, increase the entity’s charter capital, and adjust its business activities as you think fit.

The transaction involves the buyer, who can be a natural or legal person, and the seller, which is a legal entity. A major advantage of operating a BVI shelf company is that you don’t have to pay any income or capital gains taxes. However, payroll tax applies if the company employs personnel.

For companies in the financial sector, obtaining a license from the Financial Services Committee is mandatory before they proceed with any business operations. While there are no ongoing reporting requirements, the entity in question must be registered with the BVI authorities.

To buy or not to buy: top reasons to choose a BVI shelf company for your enterprise

Purchasing a shelf company in the BVI is a wise economic decision with obvious advantages:

Immediate Operations: Begin commercial activities without delay.
Established Business History: Acquire a company with a solid track record.
Simplified Credit Access: Benefit from an existing good financial reputation.
Enhanced Trust: Gain credibility with clients and partners due to the company’s successful history.
Reduced Bureaucracy: All corporate documents are already in order, and the company name is pre-approved. Appointing a new director is quick and straightforward.
No Registration Hassles: Sidestep bureaucratic processes involved in registering a new company.
Favorable Tax Treatment: This policy encourages international trade and investment.
No Restrictions on Company Founder Nationalities: The result to enjoy is efficient company management.

These benefits make purchasing a shelf company in the BVI a practical and efficient option for entrepreneurs.

Steps to successfully purchase a BVI shelf company in 2024

Purchasing a BVI shelf company is a no-brainer when done correctly. Here are the steps you will need to take:

Select a Company: Define your criteria. These may include the company’s age, bank account availability, and business history. For your convenience, International Wealth experts are here to provide you with options that will meet your needs.
Inspect the Company: Conduct a thorough legal and financial review of the selected company. To identify and mitigate potential risks, our team will audit bank statements and other documents.
Prepare Documents: Submit a copy of your passport and proof of address. A letter from your bank or lawyer may also be required. We will assist you in preparing all the required papers.
Complete the Purchase: Cover the cost of the company and any additional expenses. Ownership will then be transferred to you.
Register Changes: Update statutory documents and register changes to the company’s Ultimate Beneficial Owners (UBOs) with the relevant BVI authorities.
Manage Bank Accounts: Make sure the existing bank account is functional. If needed, International Wealth will help set up a new corporate bank account for your BVI company.

You are also welcome to order additional services. Among other things, these include accounting, legal support, and tax planning consultations.

NB: Please keep in mind that the prices for companies in the BVI vary. There are also mandatory costs associated with the purchase that must be covered as provided for under the law:

State License Fee: USD 550
Due Diligence Fee: USD 175
Director Appointment Registration Fee: USD 175
Equity Transfer Fee: USD 190.

Keep these additional expenses in mind when planning your budget, as they are unavoidable with shelf company purchases in the BVI.

International Wealth: expert support for your BVI business

With your own BVI company, you will enjoy a wealth of new commercial opportunities. The jurisdiction is among the most attractive offshore picks for running a prosperous business. Expert support from International Wealth is your secret formula for success and the guarantee of a safe purchase. This is a sure way to start enjoying all offshore company benefits in the BVI in next to no time! So, jump at this unique opportunity to become your own boss and reap numerous business perks along the way!