Off-shore Companies: BVI

IBC Formation:
The service industry of the BVI has many benefits lead by the fact of having a self government, situation that brings a political and economic stability.
At the time of forming a company it could be created under any name given by you, but you have to make sure that the provided name is has Latin characters and its permitted to include a second name in other languages but it must contain any disrespectful or insulting language, and it should be unique because if its similar to another company name it would be rejected.
The last part of the chosen name for the company as always end with a legal suffix such as: Corporation, IBC, S.A., Societe Anonyme, Ltd, Sociedad Anonima, Incorporated, and others.
It is prohibit to use any names denoting any connection to local, state or national governments, universities, chamber of commerce.

Legislation
The laws that regulate these financial activities inside the territory were created in 1984 and updated in 2004. The legal stability makes BVI a very attractive place at the time to look and consider a place to open or create a BC.

IBC Structure
Only one director or shareholder required for the company’s formation.
Shareholder(s) and director(s) may be the same person.
The shareholder(s) and director(s) can be a natural person.
There is no requirement of resident secretary.

Directors
All of the IBCs in BVI can have one or more person or corporate directors and they can be of any nationality. Without the needs of any statutory meetings to be held you can have them all or do business activities not being in the country at distance.

Taxation
In BVI they offer investors the benefit of a zero (0) Tax exception like all the offshore jurisdictions for foreigners around any commercial activity or commercial transactions made outside the country.

Privacy
One of the most important features about BVI for people in the business world is the security in such insecure times that we are living because of the privacy that BVI offers, because the share holders and administrators names are not published in the public records.

Records/Books
By law a BVI IBC should keep accounting records that are able to explain all the transactions of the company and will be enable to show the position of the company with reasonable accuracy.
The books and records will not be show in the public records it should be kept at the registered office of the company.