More and more businesses are interested in BVI offshore company formation because over the years, it has proven time and again to be an ideal location. First of all, it provides assets with maximum security, including the ability to relocate domiciles, and the company directors can protect those assets by moving them to another firm.
Additional Asset Protection
Aside from those mentioned above, company directors can move assets to another foundation or partnership, or consolidate with another corporation in a compliant jurisdiction. Furthermore, international companies are exempt from stamp duty and local taxes, and BVI bearer shares provide anonymity and confidentiality.
In addition, maintenance, operation and controls are easily managed thanks to numerous corporate features, and you can re-issue and re-acquire your own shares. It’s also possible to issue shares for other considerations besides cash, with par value or without, and you can denominate them in whichever currency you choose. Furthermore, international business companies only need a single subscriber and shareholder.
Once your company has been set up in the BVI you can hold shareholders and directors’ meetings anywhere as it doesn’t have to be in the islands. And this isn’t limited to the meetings as you can store minutes, records and account books anywhere you want.
Other Benefits Provided by BVI Offshore Companies
BVI offshore companies aren’t required to have any annual general meetings, and the law doesn’t make any distinction between private and public international business companies. As far as incorporation goes it only takes a couple of days at most, and computer access to agents for reserving names is now available. Given these convenient features it won’t take too much time to set up a company in the islands.
Another benefit is the vast number of applications you can avail of. A BVI company for instance, can be set up for investing, licensing, copyrighting or trading. You can also set up a company for trading, financial management or property holding. Compared to other jurisdictions, the BVI doesn’t have any disclosure requirements or stiff regulations concerning capitalization.
Once you set up an offshore company in the BVI you don’t need to worry about any costly license fees related to trustee and trust. When you add up all the numbers it is more cost effective compared to the Cayman Islands, Bermuda or Luxembourg. The fees are similar to what you would get in Panama and Liberia but with more asset protection.
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