Some countries and regions, such as the British Virgin Islands, Seychelles, and the Cayman Islands, have implemented particularly lenient policies to attract investors from around the world to establish offshore companies. Such companies are not subject to any taxes, but only require an annual licensing fee and can be listed in other countries or regions, making them the preferred choice for most multinational corporations to arrange their company structures.
Compared to regular limited liability companies, offshore companies differ primarily in terms of taxation. Offshore companies do not need to pay taxes on offshore income, nor are they required to declare taxes. Additionally, offshore companies have a high level of confidentiality for shareholder information, equity ratios, and earnings status.
BVI practices a “Territorial Tax System” which means International Business Companies who are incorporated in the BVI but conduct business outside of the jurisdiction are not subject to corporate taxes. In fact, the BVI does not impose any taxes on capital gains, gifts, sales, value-added, profits, inheritance, or corporate profits.
BVI companies possess notable advantages in terms of confidentiality. Incorporating an offshore company in the British Virgin Islands permits the entity to maintain the privacy of its business activities. Moreover, disclosing the beneficial owners of the company is not mandatory. Nominee directors and shareholders can be appointed to obscure the identity of the true owners.
Notably, although a company is required to keep a register of directors and a register of members, such records are not publicly accessible. This ensures the confidentiality of the company's founders and investors.
Registering a BVI company only requires at least one director and one shareholder. There are no restrictions on the number, age and nationality of directors and shareholders. Directors and corporate shareholders can be corporate entities or natural persons. The sole director can also act as a shareholder.
You would receive the soft copy of the registration certificate on the same day, and 7-14 working days to complete the preparation of the documents.