-->Establish companies

BRITISH VIRGIN ISLANDS ("BVI")

Location

The BVI are a group of more than 40 islands and islets located in the Caribbean 60 sea miles east of the Island of Puerto Rico.

Confidentiality

There is no requirement to disclose the identities of the officers, directors and shareholders.

Exchange Control

There is no foreign exchange control in the BVI and corporations may transfer funds with complete freedom.

Company Formation

BVI is one of the most popular types of offshore companies. Usually, clients acquire shelf companies since it takes only one day to complete the setting up procedure. We may also incorporate BVI companies specifically to client's instruction and the incorporation procedure can be completed within 1 to 2 weeks. Following are some basic requirements for the BVI companies:

Name

Company names must contain the words "Corporation", Inc.", "Limited" or their abbreviations. The name must be in English, Chinese name can also be registered in the BVI.

Share Capital / Shareholders

The common authorised share capital is US$50,000 divided into 50,000 shares of US$1 and the minimum issued capital is one share. Share capital can be denominated in any currency and shares can be issued with or without par value.

A minimum of one shareholder is required. Details of the shareholders are not required to be disclosed in the public record but a register of members must be kept at the registered office address of the BVI company.

Directors / Secretary

A minimum of one director is required. The Director may be a natural person or a corporation and need not be a resident in the BVI. Register of directors is not of public record,but is required to be held at the registered office address.


A company secretary may be appointed. The company secretary may be a natural person or a corporation and need not reside in the BVI.

Registered Office / Agent

The BVI companies must have a registered office and a Registered Agent in the BVI.

Taxation and Annual Requirements

BVI companies are exempt from all taxation on capital gains, corporate earnings, personal income, sales, inheritance of dividends.

Every company must pay an annual license fee and an annual agent fee.

There is no requirement to file audited accounts with the authorities. However, the companies are required to keep proper records of books, records, and minutes.