British Virgin Islands (BVI) is a group of about 40 islands. It takes approximately 25 minutes flying time from east of Puerto Rico where situated between the Atlantic and the Caribbean. Being a member of the British Commonwealth, BVI applies a legal system based on English Common Law (its Business Company Law includes some terms in Delaware Law), which operates in concert with local acts.
Because a BVI company is not required to pay tax, nor bound to foreign exchange controls, and information for submission for filing requested by local government is minimal, many multinational companies and persons are attracted to BVI company registry. At present, BVI has become one of the most popular places globally for offshore registration.
- Provide privacy protection, without disclosing shareholders and directors
- No tax shall be declarable and payable
- Registered capital is not required, and bank accounts can be opened all over the world
- Companies can use Chinese names
- It is not required to submit audited accounts
- There shall be at least one shareholder and director over 18 years old
- There shall be a local person or company to act as agent
Standard Registered Capital
- 50,000 shares
Required Information and Time for Incorporation
- Chinese and English names of company
- Copies of ID cards or passports of shareholders and directors
- Registration of company (requires 12 days or so)
- Purchasing a Shelf Company (requires 3 days or so)