A company registered in the Virgin Islands is exempt from tax, and at the same time it can engage in almost any type of entrepreneurial activity. A company in the BVI is not subject to income tax, does not have requirements for the minimum amount of authorized capital, there is a possibility of the absence of real, strict confidentiality, reports are submitted only at the request of the Financial Services Department - all this allows the BVI to occupy a leading place in the list of the most popular jurisdictions for registering an offshore company ...
Why buy offshore in the Virgin Islands?
Most often, entrepreneurs think about buying an offshore company in the British Virgin Islands in order to protect their assets, since there are laws and regulations of activity that are not applied at all or are rarely applied in other jurisdictions. You can protect assets by changing the company's legal address. The assets of creditors and shareholders are transferred to another trust or company, and the directorate is taken over or merged with the management of another foreign company.
Advantages of organizing an offshore company in the British Virgin Islands:
For companies registered in the BVI, there is a full exemption from stamp duties and taxes. Bearer shares allow for high anonymity and confidentiality. Information about the company's shares is available for verification only to the shareholders of this organization or, in exceptional cases, to the BVI court. This allows you to achieve a high degree of confidentiality for your offshore company.
Benefits of registering companies in the BVI
The British Virgin Islands has one of the most successful legal systems that actively support offshore business development.
The British Virgin Islands Commercial Companies Act 2004 came into force on January 1, 2005, replacing the Companies Act (Cap 285) and the International Business Companies Act (Cap 291). In accordance with this law, minimum requirements are imposed on an offshore company, while the company receives certain advantages: complete confidentiality of information and tax exemption.
Many countries, in the struggle for the international financial market, change their legislation in accordance with the legislation of the BVI. However, the BVO maintains leadership in this area due to political stability, confidentiality, flexibility of legislation in relation to companies. So, the decision to buy an offshore company in the BVI is invariably a profitable, justified and forward-looking venture.