British Virgin Islands is one of the most ideal destinations to start offshore organizations. The place offers to setup a private limited international business easily. The laws for business establishment in BVI are simple and straight. The government of the place want to attract more and more investors from various parts of the world. Therefore, various types of facilities are offered to offshore investors to encourage them to invest in something big that not only profits the investor but also BVI.
Here are some key features to setup an international business organization in BVI.
Nominee Director
BVI offers to appoint a nominee director. The prime objective to appoint a nominee director is to prevent the actual ownership of a company from the general public. It helps to offset potential implications that the beneficial owner is closely involved in the operation and control of the particular offshore company. The nominee director has the right to perform various types of administrative functions. His involvement in the day to day office work is based on necessities and circumstances of the client. All the major work operation is conducted by the beneficial owner of an international organization.
Domestic Vs Offshore Companies
There are two different laws for domestic and offshore firms. BVI offers tax free business establishment to offshore investors. A few changes have done on the tax saving scheme after the BVI government laced by domestic companies for reducing tax to domestic ones. It is important to go through the tax rules and regulations to see the changes on tax.
No Initial Lump-Sum Capital
There is no initial capital is required to foundation of an international organization in BVI. The company only needs to state how many shares it has in total. There is no need to attach a fixed monetary value to every share of an international organization.
The Currency of Capital for an Offshore Organization
BVI offers to use any type of currency, but the most popular ones is US dollars here.
No Need to Setup a Fully Operational Office
According to the jurisdiction of BVI, it is not mandatory to start a fully well-established office in BVI. Minimum local presence is required that can be possible by establishing a virtual office where you can equip the office with phone, fax and email.
These are some advantages of establishing an offshore company formation in BVI. It is easy and fast to start a business in BVI.
