Company registration in the BVI

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British Virgin Islands - discovered by Columbus, an overseas part of England, located in the Atlantic Ocean, near the Caribbean Sea.

The economy of the region is made up of industries such as travel and company registration in the British Virgin Islands, the inhabitants are engaged in the cultivation of sweet cane and the manufacture of rum.

Company REGISTRATION in the British Virgin Islands

1. LEGISLATIVE FRAMEWORK

The BVI Business Companies Act, 2004 (The BVI Business Companies Act, 2004).

2. REGISTRATION OF COMPANIES

2.1. Types of Organizations

• LLC (BVI private company limited by shares).
• BVI private company limited by guarantee (BVI private company limited by guarantee);
• Companies in the form of a joint stock company (BVI Public Company);
• Hybrid companies established under the BVI Business Companies Act, CAP 285 (Hybrid Cap 285Company);
• Limited Partnerships;
• Specialized Companies;
• Trusts.

2.2. Requirements to shares and the amount of authorized capital

• The amount of authorized capital is unlimited.
• The minimum contribution and issued share capital may be one fully paid share
• The issuance of bearer shares is authorized. The new law defines a "bearer share" as a share represented by a certificate which establishes that the holder of the certificate is the owner of the share.
• All bearer shares must be held by a specially licensed custodian. The annual government fee for companies issuing bearer shares is now US$1,100.
• Director - there are no residency requirements.
• A shareholder may be an individual or a legal entity and there are no residency requirements. Director and shareholder can be one person. The use of nominee service is allowed.
• A secretary is not required.
• Publicly available information: the legislation ensures secrecy of shareholders and directors. Data from the constituent documents, copies of which are kept in the register of companies and are presented to third parties only after the adoption of the appropriate conclusion.
• There is no requirement to submit accounting statements, but the company is obliged to keep financial statements reflecting the company's transactions in an amount sufficient to explain the company's operations.
• In order to register a company in the islands, the company must have an office in the BVI.

3. TAXATION

In the British Virgin Islands, there is virtually no taxation offshore. Only one rule is the payment of a national annual fee.

4. Currency Control

None.

5. Double Taxation Avoidance Contracts

Concluded with some states, but do not operate offshore.

6. FEATURES

Ukraine considers the British Virgin Islands to be an offshore. This leads to intensive control over the work of this kind of firm by national organizations.

Organization Legal Solutions - provides comprehensive support of any business - from opening an offshore company to the provision of a full range of consulting, auditing and legal services in Ukraine.

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