Introduction

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 register BVI companies. At present, BVI has become one of the most popular places globally for offshore registration.

Benefits

  • BVI has one of the most flexible offshore corporate structures available to international business people.
  • BVI company incorporation is cost-effective and straight forward. There are no minimum capital requirements for BVI company formation.
  • Do not require Company Secretary.
  • Secure the privacy of personal details of the director and the shareholder with greatest confidentiality.
  • Convenience on transfer of Shares (No stamp duty / restriction).
  • Able to open a bank account in Hong Kong.
  • Do not require to submit Annual Return.
  • Not required to submit the company accounts annually.
  • Tax exemption for offshore company.

Key Corporate Features

General Information
Political Stability Good
Type of Company IBC
Legal System Common Law
Corporate Requirement
Minimum Number of Shareholders 1
Minimum Number of Directors 1
Registered Address Yes
Company Secretary Optional

Setup Requirement

  • Company Name Requirement: English Name (Additional charge for Chinese Name)
  • 1 Director
  • 1 Shareholder (no restriction on the nationality; Shareholder can also be appointed as Director)
  • Standard Authorized Capital is USD50,000
  • Increase of Share, additional stamp duty is required

Setup Procedure

Ready-made list for Ready-made Company Tailor-made Company (3 intended names in order of preference)
Provide Due Diligence documents of the shareholders and the directors passport or I.D Card, utility bill and registered proportion of shares
Arrange all shareholders and directors to sign the documents
To set up a Ready-made company within 2 working days To set up a Tailor-made company within 7 working days
Company incorporation completed with a document box which includes Certificate of Incorporation, M&A and Share Certificates, etc.

Company Maintenance

  • Renewal fee should be paid annually to ensure the legal status of the company
  • Incorporated between January - June, renewal in April of the subsequent year
  • Incorporated between July - December, renewal in October of the subsequent year
  • If issued Capital is increased, additional annual license fee is required

Service Fee

Incorporation Fee HKD13,000
Incorporation documents
Provision of Registered Agent for a year
Obtaining a Certificate of Incumbency from the registered agent for opening bank accounts
Box set
Disbursements - Local transport, courier and miscellaneous HKD500
Arrange and provide a set of certified corporate documents for opening a Bank Account HKD2,000
Obtaining a Certificate of Good Standing from the registered agent for opening bank accounts
Renewal Fee HKD9,000

Contact Us

  • Address Unit 502, 5/F, Beverley Commercial Centre, 87-105 Chatham Road South, Tsim Sha Tsui, Kowloon, Hong Kong
  • Tel (852) 2375 3733
  • Fax (852) 2375 2292
  • E-mail info@inchk.com
Contact Us