DOING BUSINESS IN BVI IN 2019
Popular Package for BVI
- Business Company
- 1 week to incorporate
For over a decade, Healy Consultants Group PLC has been efficiently and effectively assisting our Clients with i) BVI company registration ii) business banking solutions and iii) accounting and tax compliance services.
Summary table of BVI company registration
|Summary||International business company||Holding company||Fund||Limited partnership||Trust|
|Also known as||BVI business company||Parent company||Incubator hedge fund||Partnership||Discretionary trust|
|Best use of company?||All products and services||Holding and managing assets||Asset management||Professional services||Tax planning|
|How soon can you invoice local Clients/sign sales contracts?||2 weeks||2 weeks||4 months||Cannot trade locally||Cannot trade|
|How soon can you invoice international Clients/sign sales contracts?||2 weeks||2 weeks||4 months||2 weeks||Cannot trade|
|How soon can you hire staff?||2 weeks||2 weeks||2 weeks||2 weeks||Cannot hire|
|How soon can you sign a lease agreement?||1 week||1 week||1 week||1 week||1 week|
|How long to supply corporate bank account numbers?||6 weeks||6 weeks||6 months||6 weeks||6 weeks|
|How long to supply company registration/tax numbers?||2 weeks||2 weeks||2 weeks||2 weeks||2 weeks|
|Corporate tax rate on annual net profits?||0%||0%||0%||None||Cannot trade|
|Limited liability entity?||Yes||Yes||Yes||Yes||No|
|Government grants available?||Yes||Yes||Yes||Yes||No|
|Government approval required for foreign owners?||No||No||No||No||No|
|Resident director/partner/manager/legal representative required?||No||No||Yes||No||No|
|Local registered agent required?||Yes||Yes||Yes||Yes||Yes|
|Minimum paid up share capital?||US$1||US$1||US$20,000||US$1||US$1|
|Can bid for Government contracts?||Yes||Yes||Yes||Yes||No|
|Corporate bank account location?||First Bank||First Caribbean International Bank||VP Bank||Banco Popular de Puerto Rico||Bank of Asia|
|Can secure trade finance?||Yes||Yes||Yes||Yes||No|
|Average total business set up engagement costs?||US$8,050||US$8,050||US$26,800||Request a proposal||Request a proposal|
|Average total engagement period?||2 months||2 months||6 months||2 months||2 months|
BVI company registration summary
Steps to register your company in the British Virgin Islands
- Prepare documents and forms for incorporation;
- Reserve company name at the Registry of Corporate Affairs;
- Submit all signed documents;
- Receive registration approval;
- Open bank account;
- Activate internet banking;
- Apply for financial license at the Financial Services Commission;
For a more detailed guide to registering your company, please visit our complete steps to incorporate in the British Virgin Islands.
Best uses of a BVI company
- The BVIs are a great jurisdiction to establish an offshore entity to book global profits while minimizing tax. While a BVI BC does not have to pay corporate tax on its global profits, our Client’s income through a BVI BC may be subject to personal income tax in the country of residence. Healy Consultants can advise our Clients regarding their tax compliance responsibilities.
- Our Clients interested in establishing a financial services company choose BVI thanks to i) transparent laws and regulations imposed by the BVI Financial Services Commission ii) easy company setup procedures iii) transparent tax laws iv) good reputation amongst popular offshore jurisdictions and v) good infrastructure available for Fund Managers.
- Time to incorporate: One week
- Cost to set up: US$8,050
- Minimum capital: US$0
- Physical office required: No
- Shareholders: 1
- Directors: 1
- Company secretary: No
- Resident director: No
- Corporate tax rate: 0%
- Corporate tax base: Territorial
- Shelf companies: Unavailable
- Main company type: Business company
Frequently asked questions
How do I setup a financial services company in the BVIs?In order to provide financial services through a BVI Business Company, our Clients will need to get the relevant license from the BVI Financial Services Commission. Healy Consultants will guide our Clients about all the requirements for this license and assist throughout the application process.
Will I have to travel to register an offshore company in the BVIs?No. Healy Consultants does not require our Clients to travel to register a BVI offshore company.
Tell us what you need - we’ll send you a customised proposal in 5 hours!
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