BVI is one of the islands registered in the desire for overseas assets, because it does not generate transaction tax, there are many preferential policies such as tax exemption, note that his annual review time is in December every year, if you need to register a BVI company, it is more cost-effective to register at this time. Here we introduce his advantages, registration process and annual review.
Advantages:1No registered capital is required, nominal capital can be used;
2.There is no need to file company accounts;
3.Provide privacy protection without the need to disclose shareholder information;
4.Convenient offshore operations without the need to file any returns or fill out taxes**;
5.There is no need to hold annual general meetings or board of directors on a regular basis;
6.Convenient equity transfer procedures without the need to submit any documents;
7.Convenient citizenship registration, which is available to registered non-British nationals;
8.A company incorporated in the BVI can be registered as a Belize company.
Process:1Company name search: determine the company name and whether the search is duplicated with the existing company name;
2.Signing of the agreement: signing the power of attorney and agreement for the registration of the BVI company;
3.Preparation of statutory documents: Preparation of memorandum and articles of association, minutes of shareholders' meetings and minutes of directors' meetings, minutes of statutory meetings, signing of power of attorney, etc., in accordance with the BVI Companies Act;
4.Certificate of Incorporation: Submit relevant documents to the BVI Registrar of Companies, apply for a Certificate of Incorporation, Business Registration Certificate, etc.;
5.Filing of Articles of Association: Submit an application for filing of articles of association to the Registrar of Companies of the British Virgin Islands and obtain a filing certificate;
6.Engraving seals: production of company seals, signature seals, small round seals and appropriate amounts, meeting minutes, etc.;
7.Documents to the customer for confirmation: Submit the company's documents to the customer for confirmation, and provide follow-up services.
Annual review: 1The meaning of the annual examination of the company: It means that the BVI company submits relevant documents to the BVI Registrar of Companies every year to confirm that the company is still legally existing and continues to operate.
2.Annual review time: An annual review must be conducted in December every year not more than the end of December to avoid fines.
3.Information required for annual examination: Provide copies of the BVI company registration certificate, business registration certificate and director's identity certificate.
4.The content of the annual review: confirm whether the company legally exists and continues to operate, including reviewing whether the company's shareholders, directors and other information have changed, whether the first fee is paid on time, etc.
5.Result of the annual examination: If the annual examination is passed, the company will continue to operate legally in the BVI, otherwise it will be deregistered.