Will Chan

 BVI company registration is an affordable means of benefitting from the tax exemption and confidentiality offered by international businesses. The country is English speaking and well established as an offshore financial and business centre. The benefits offered to BVI companies are entrenched, meaning that starting up your business in the British Virgin Islands is extremely easy and fast.

Although BVI companies have always provided great advantages, a number of changes were introduced to the BVI Business Companies Act in 2005. These gave BVI companies even more benefits and alterations to the laws. The key change was that BVI companies were given total immunity to tax and stamp duty liability. The only exception was that if they had property in the country, stamp duty was payable.

BVI companies are not required to pay income or dividend tax, royalty tax, interest, compensation and funds paid by the company. Indemnity from capital gains tax, estate tax and inheritance tax all combine to make the British Virgin Islands one of the most desirable locations for asset protection programmes and finances. To the present day, over half a million offshore companies or IBCs have been formed in this jurisdiction. These figures prove that the BVI is a practised and popular location to operate a lucrative and thriving offshore business.

When operating an offshore business, many people wish to remain anonymous. BVI companies have this provision as there is no requirement for shareholders and directors to have their details published in the public domain or even to the government. The use of nominee shareholder and directors can improve confidentiality even more. Another advantage is that BVI company incorporation is usually finalised within two days. Already established shelf companies are also available to buy.

Offshore Formation 247 is a foremost BVI company incorporation authority which offers a variety of services to UK customers who are considering forming an IBC in any one of the many international locations, including the British Virgin Islands. Amongst the services we provide are the setting up of business accounts and mail forwarding which we include when registering new business information.