The main reasons for BVI Company formation are as follows:
Ease of operation, maintenance and control are facilitated by flexible corporate features. IBC’s can re-quire and re-issue their own shares. Shares can be issued for a consideration other than cash, with or without par value, and be denominated in any currency. Only one subscriber and thereafter one shareholder is required. Single directorates are permitted. Shareholders’ and directors’ meetings are not confined to the British Virgin Islands. Books of account, records and minutes can be maintained elsewhere. There is no statutory requirement to hold annual general meetings. No distinction is made between public and private IBC’s. Incorporations can take place within one or two days. Computerized access for Registered Agents to remotely reserve preferred names is now being finalized.
A wide range of application are possible with a BVI Company, including: investment, property holding, financial management, trading and copyrighting and/or licensing. Unlike many other jurisdictions, there are no disclosure requirements, nor any minimum capitalization regulations, nor any prohibitive license fees pertaining to trust and trustee companies for application in private-label trust company, unit and mutual fund situations.
Formation is cost effective when compared with the more traditional centers such as Bermuda, Cayman, Liechtenstein, Luxembourg, and Switzerland. Fees are similar to Liberia and Panama., Plus the BVI Company offers greater offshore asset protection benefits and the BVI government has greater political stability.
A BVI Company is a premier choice for asset protection and financial privacy.
Last Updated on July 19, 2019
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