 BVI Company Registration and Its AdvantagesThe main advantages of registering a BVI company are many but the key ones are stated below, this shows what an advantage a BVI company can be.
By: Register BVI Company • there is no minimum capital requirements for starting the BVI company • The company does not need to keep accounts in the country or away • The names of directors and shareholders are not held on public record • There is no requirement for directors or shareholders to attend meetings in the BVI • The owners and directors names do not appear on any public documents • Local tax is exempt for all BVI • A minimum of one director and only one shareholder is required • No requirements for resident directors and shareholders http://www.cclogic.com/ Therefore, how would these rules be of help to a business owner in this day and age? The information here will take you through them one by one to clarify the details of each point. What they mean by no Minimum Capital requirement is that while the business registration is ongoing, there will not be a request to provide proof of financial capability or even the minimum amount you may need for the business. In short, you can start your business with any amount of capital you might have. In regards to the keeping of accounts, you need not to. In most countries, this would be a compulsory requirement but with a BVI company, you do not need an accountant to keep track of the money if you can handle the issue by yourself. With a BVI company, you will not have to list directors in the public domain at any one time. This keeps your private life intact as you manage your business. Your name on the public domain might invite some unwanted guest who might want to make your life a bit uncomfortable. It is also good for security reasons. With it not being compulsory to attend any meeting of the business it leaves one with a choice and a sense of freedom to act as you wish at your own time. Some company rules force people to attend the meeting even if it is a bit inconvenient for them as an individual. In a BVI company, all the taxes are exempted, this will mean that at the end of the day you take home all the profits and do not have to share your hard-earned pennies with the government of the country, which to some extent is very privileged. As compared to other company formations, a BVI company will only need one director as compared to some other company formations available all over the world. This circumvents the problem of management and overheads in terms of payment to the directors who might not be involved in the running of the company. In most company formations, the law will require you to provide at least one local resident to be a resident director. In this case, you do not need this to happen to incorporate the company. http://www.cclogic.com/ # # # CCLogic.com is operating as a consultancy firm in the fields of credit card processing, payment gateway, anti fraud systems and the formation of Cyprus companies. Also we offer our services for clients and businesses worldwide. End
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