Register Company in BVI with Block3 Finance
Registering a company in the British Virgin Islands (BVI) is a straightforward process when guided by Block3 Finance. By partnering with us, you can focus your time and energy on growing your business while we handle the company registration process.
At Block3 Finance, we pride ourselves on providing a smooth and efficient experience throughout the registration of your BVI company. Our primary goal is to ensure that your business is operationally ready within the promised timeframe.
Our service package includes
Company registration with the British Virgin Islands Financial Services Commission
Provision of a local company secretary and registered office address
Assistance in opening local or international corporate bank accounts
Application for financial licenses (if required)
Annual accounting and tax services
How long does it take to register a BVI company and open a corporate bank account?
Block3 Finance will complete your BVI company registration within 1 week. After we receive the necessary due diligence documents from the directors and shareholders, we will begin by checking the availability of your preferred company name in the Companies Registry. This process can be done remotely, and there will be no need for you to travel.
Upon successful registration, you will receive the details of your company, including the company number and the certificate of incorporation. Within 4 weeks from registration, Block3 Finance will assist in opening a corporate bank account with a reputable international bank. By the 5th week, your BVI company will be ready to start operations and issue invoices.
If you want to know more about the process, Block3 Finance has prepared a step-by-step guide to help you understand all the required steps for BVI company formation.
Can foreigners start a business in BVI?
Yes, foreigners can easily start a business in the BVI. The jurisdiction’s offshore tax exemption policies, guarantee of shareholder confidentiality, and simple incorporation process have made it an attractive destination for international investors. The BVI authorities have created a business-friendly environment, which supports the ease of foreign investment.
The new amendments under the BVI Business Companies Act, 2022 have made significant changes, such as the mandatory disclosure of director names. As of January 1, 2023, directors’ names of BVI companies will be accessible to registered users through the VIRRGIN platform. However, beneficial owners are not required to disclose their identities unless specified.
Foreign ownership is fully allowed. A minimum of one director and one shareholder is required, and both can be from any nationality. Additionally, you must have a local registered address and appoint a registered agent. Our team at Block3 Finance will assist you with all of these requirements.
Types of Companies in BVI
When registering a company in BVI, investors can choose from various business structures based on their specific needs:
Limited Liability Company (LLC): This is the most common form of company for foreign investors, providing limited liability to owners. It requires a minimum of two shareholders and one director, with no nationality restrictions. While there is no paid-up capital requirement, a minimum of US $20,000 is recommended for basic operations.
Branch Office: A branch office allows foreign companies to extend their operations into the BVI. It operates as an extension of the parent company, with no separate legal entity.
Representative Office: Suitable for foreign investors looking to explore opportunities in the BVI without engaging in direct business activities. Representative offices can conduct market research, but not engage in trade.
Tax Haven Status of BVI
The BVI is considered a tax haven due to its attractive tax policies. There are no capital gains, inheritance, or corporate taxes, which allows businesses to enjoy tax-free advantages. Salaries are subject to a 10% tax for employees, and employers are taxed at 14% for payrolls exceeding US$150,000 annually.
While the tax benefits are appealing, it is important to carefully consider the limitations and potential reputational risks associated with setting up a business in a tax haven. Block3 Finance suggests considering more reputable jurisdictions if transparency and credibility are critical to your business operations.
Types of Companies Available in BVI
The BVI offers a variety of business structures to suit different needs:
Business Company Limited by Shares: Shareholders are protected from personal liability, and the company can issue shares.
Business Company Limited by Guarantee: Popular among non-profits; does not issue shares.
Unlimited Company: Shareholders are personally liable for company debts.
Restricted Purpose Company: Established for limited activities such as insolvency-related functions.
Segregated Portfolio Company: Ideal for holding assets or multiple businesses.
Steps to Register a Company in BVI
Choosing the Right Business Structure: Before starting, Block3 Finance will assess your business goals and recommend the best business structure, whether an LLC, branch office, or another entity.
Company Name Reservation: Block3 Finance will check for the availability of your desired company name and reserve it with the BVI Commercial Registry.
Preparation and Submission of Documents: We will prepare the necessary documents, including the Memorandum and Articles of Association, personal information of directors and shareholders, and proof of identity.
Bank Account Opening: We will assist in opening a corporate bank account with a trusted bank in the BVI or internationally.
CNPJ Registration
Block3 Finance will help you register for a CNPJ number with the Brazilian tax authorities, allowing your company to legally operate in Brazil.
Ongoing Compliance Services Our team will continue to assist you with accounting, tax filing, and regulatory compliance on an ongoing basis.
Contact Block3 Finance for Your BVI Company Formation
If you’re ready to start your business in the BVI, contact Block3 Finance today. Our team of experts will assist you throughout the company registration process and ensure your business is set up for success in the British Virgin Islands.
