Of the various financial jurisdictions across the world that are popular amongst those looking to launch offshore companies, the British Virgin Islands (BVI) is amongst the most advantageous. When you establish a company, you can expect numerous benefits and a minimum of state interference. To give you a more in depth look at how company start-up in BVI could help you, here are the main uses of incorporated companies in greater detail.
Tax planning: any company that has been formed in the BVI will be exempt entirely from tax on all the income it makes. It will also be exempt from tax on capital gains, gifts, inheritance and estate, and it will be under no obligation to pay stamp duty.
Operating with greater privacy: when you form a company in BVI, you are obliged to put the barest minimum of information on the public record. Your directors, shareholders and owners can all be anonymous, while records and minutes can all be held privately too.
Attaining greater business flexibility: if you are tired of the inflexible, restrictive business laws in the UK, then company formation in BVI will be a breath of fresh air. All you need to launch your venture is a single owner, shareholder and director. They can be three separate people or one person – the choice is totally up to you. There are no restrictions on nationality and you can hold your meetings anywhere. This is indicative of just how flexible and easygoing the business laws are in BVI.
More legal rights: in BVI, the authorities take the rights of a business very seriously. In fact, when you incorporate a company in BVI, your organisation will be considered a legal personality, meaning it has the powers and rights of a regular, BVI resident.