Frequently Asked Questions about BVI
The following are some of the most frequently asked questions about BVI Company Incorporation:
How long does it take to incorporate a BVI Company?
Are there any restrictions on ownership of a BVI Company?
What is the minimum number of directors required for a BVI Company?
What are the advantages of setting up a company in the BVI?
What are the main disadvantages of BVI company formation?
What are the minimum capital requirements for a BVI company?
Is a BVI Company subject to an annual audit?
Is information about the company available to the public?
Does a BVI company need a resident company secretary?
Are there any restrictions on the business activities of a BVI company?
What documents need to be filed with BVI Company Registrar?
How long does it take to incorporate a BVI Company?
Healy Consultants can legally complete BVI Company registration in one week.
Are there any restrictions on ownership of a BVI Company?
None. A BVI LLC can be 100% foreign owned.
What is the minimum number of directors required for a BVI Company?
To complete Company Formation in the BVI only one director and one shareholder are needed. They can be the same person, or corporate body. Neither shareholder nor directors need to be resident in the BVI.
What are the advantages of setting up a company in the BVI?
If properly structured, a BVI company can legitimately conduct tax-exempt international business. In addition, a BVI company is quick, east and cost-effective to set up.
What are the main disadvantages of BVI company formation?
A BVI company may be perceived as a tax avoidance mechanism.
What are the minimum capital requirements for a BVI company?
There are no minimum capital requirements for a BVI company.
Is a BVI Company subject to an annual audit?
There is no need for annual reporting, accounting or auditing with BVI Company.
Is information about the company available to the public?
The Memorandum and Articles of Association are the only documents held in the public record.
Does a BVI company need a resident company secretary?
Yes, it is compulsory for a BVI company to have a resident company secretary.
Are there any restrictions on the business activities of a BVI company?
Very few. However, activities such as banking, insurance, trust management or investment advice services require a license.
What documents need to be filed with BVI Company Registrar?
These documents need to be filed with the BVI Company Registrar:
- Original Cetificate of Incorporation by Apostille;
- Set of certified copies of primary documents by Notary and Apostille;
- Power of Attorney by Notary and Apostille (If a professional Director has been selected);
- An original printout of the Certificate of Good Standing (CGS) from the BVI Public Register.
Contact Us
For more information on any of our BVI corporate services, email email@healyconsultants.com or telephone us at (+65) 6735 0120.
Back to BVI Company Formation page.
