BVI Offshore Company Start-up Do's and Don’ts

Jan. 8, 2010 - PRLog -- It is a member of the Commonwealth and its main currency is the US Dollar. About 80% of the residents are of African origin. Its business laws are some of the most flexible in the world and this is because they incorporated a clause that allows for International Business companies, or IBCs, to register or incorporate their companies in the BVI territory for the principal purpose of asset and financial protection and for business anonymity.

http://www.cclogic.com/register-offshore-company-online/bvi-company-formation.html

There are a few restrictions stipulated within the same laws. To begin with, you are not allowed to get into any business deals or transactions with BVI locals or direct use of BVI companies for transaction. You are also not allowed to run a banking business or run a company management establishment within the BVI. Most of all you are not allowed to own residences or real estate in the BVI. You can however, seek the advice of local professionals like lawyers and asset managers. You can also run an office on rental basis where you can hold meetings and manage your records. You are also allowed and sometimes encouraged to hire BVI residents in your company, although this is not a primary requirement.

To register a company in the BVI, you can get an order form online on the relevant consulting firms that can and will assist you in the registration. All you need to do is pay the necessary fees, submit your accurate contact details, and provide positive proof of identification, your passport especially. You can come up with the company name and seal and also director/s and/or shareholders as is required by the Registrar of Companies in the BVI. However, there are consultants that can come up with the company name, seal, and provide a director depending on the pay packages offered. This registration process takes up to 3 days to complete. They will send you the necessary documents that prove you have registered for an offshore company and some also offer services like manage your company meetings for you and also manage your records.

Once all of this is done, then you are well on your way to enjoying asset protection courtesy of your offshore business and you are also exempt from paying any taxes for a period of 20 years. You do not need to manage your assets in accounts and hence no need for an auditor to assess your finances. You just need a minimum of one director and shareholder, which can be the same person and it can be a corporate company or body. You also do not need to have a secretary in your employ. Registering your company in the BVI will protect your finances and give you the major benefit of not paying taxes on any of your profits made as an international business registered in the British Virgin Islands.

http://www.cclogic.com/register-offshore-company-online/b...

# # #

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.