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Why Should I Select Bvi Company Incorporation?

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ABM Group
Why Should I Select Bvi Company Incorporation?

BVI is one of the most popular and trusted offshore legal entity for the incorporation of the companies. It is well known as “The Virgin Islands” is an overseas territory situated in Caribbean. On 1st January, 2017 the British Virgin Islands Business Companies act, 2004 came into existence under the name of Business Companies Act in the BVI. This act removes the difference between the BVI “offshore” and “onshore” legal entity. The BVI BC helps in erasing the restrains of doing business in BVI. It helped in carrying out business with the residents of BVI and also buying real estate in it.

What Are The Advantages Of BVI Company Formation?

Zero Corporate Income Tax-

BVI Companies removes the burden from its investors of paying extra taxes who already pay taxes in their home country. This provides the investors from different jurisdiction to participate in it for its minimal taxation. This not only exempts the BVI income tax but also the dividends, interests, royalties, capital gains in respect of shares, other securities etc.

Flexibility of the Management

BVI BC requires a minimal requirement of one owner, one stakeholder, one director.it can be made up by an individual or corporation of different nations.

Nature of BVI BC

The BVI BC has a different personality but the same powers as a natural individual. The following features make it different-:

  • The meetings of the stakeholders and the directors can be held from anywhere.
  • There is no such requirement of Annual General Meeting of BVI BC.
  • It is an inexpensive form of company incorporation which also provides annual support.
  • The information regarding the stakeholders and the directors cannot be accessed publicly.
  • All the restrictions of buying property or carrying out business are removed.
  • For instance, in case the shares of the company are confiscated by any foreign government or any authority, the BVI BC with the same cause can ignore the seizure and keep on treating the person from whom the shares are seized.

Bearer Shares

The BVI BC permits the free and incognito circulation of bearer shares.

Record of the Accounts

The BVI BC companies have no mandatory obligations of keeping an account of their financial records. The records must be kept to ensure the financial position of the company with accuracy during BVI company incorporation process. It is not obligatory for the submission of the available records to the British Virgin Islands and the location of the company can be freely decided by the owners of the company by submitting the required documents of the respective address to their registered and experienced agent.

Zero Share Capital

The BVI Law does not hold any restrictions on the share capital. This means it can authorize a limited or an unlimited number of shares. This gives it more flexibility, conducting reverse share splits with many other added benefits.

The BVI BC has replaced many successful and famous business acts due to features provided by it which makes it more reliable, flexible trustworthy. In case you are thinking to register under BVI BC always go for a registered agent.

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