Top BVI companies advices 2021? The offshore industry has been developing in the BVI since the 1980s. This is one of the oldest offshore zones in the world. Around 40% of all offshore companies are domiciled in the BVI. The reason for that is not only a favorable geographical position of the islands. The legislation that regulates the activities of the offshore companies registered in the BVI is quite transparent and the recent amendments have put it in conformity with the international efforts to fight money laundering. The British Virgin Islands is a reputable offshore jurisdiction.
Could my BVI company be conducting “shipping business”? Does owning a private pleasure vessel constitute shipping business? No, it does not. If the company is chartering or renting the vessel to third parties under contract, then “Yes”, your BVI company is conducting shipping business. Does the company provide general HR and/or payroll services to crewmembers? If “Yes”, your BVI company is conducting shipping business. Does the company provide placement of crew-members in ships or vessels and the repatriation of outgoing crewmembers? Does it participate in the relevant logistics, like getting the plane tickets, airport transfer etc.? If “Yes”, your BVI company is conducting shipping business.
According to one of the amendments of the BVI BC Act, since December, 31st 2009 all bearer shares which have not been placed under an official and authorized custody, will be considered as disabled, thus the holders of such shares will not be able to exercise any right over the company such as the right to vote or to receive dividends, nor will be able to transfer the company. Shareholders: A minimum of one (1) shareholder is required. Corporate or natural shareholders are permitted. No details of the shareholders appear on the public register but a register of shareholders must be kept at the registered office of the BVI Company. EveryBC must have a Registered Office and a qualified Registered Agent in the BVI. Number and Classes of Shares: The “authorized capital” and “share capital” concept, as we know it, no longer exist under the BVI BC Act. The BVI BC Act specifies the requirement for the Memorandum to state the maximum number of shares that the company is authorized to issue. Find even more information at BVI companies.
Offshore companies operate according to the local regulations and law acts of where they are incorporated. Normally, investors choose a foreign jurisdiction that has more favorable policies than their home countries. Then, they set up a company and start a business there in order to enjoy the benefits from such policies. For instance, if you opened and managed your company in Australia, its worldwide income would be subject to the corporate tax rates from 25% to 30% (depending on the business size). However, if you registered a company in Hong Kong, its income would only be taxed from 8.25% form 16.5%. On top of that, the income that is earned outside of Hong Kong can be completely exempted from local tax.
OMC Group specializes in the provision of corporate, fiduciary and administrative services from recognized jurisdictions around the world. Since 1955 we have been servicing leading financial institutions with a commitment to develop longstanding relationships. OMC will offer a full range of company formation services in the most recognized jurisdictions including Anguilla, Belize, Bahamas, BVI, Cayman, Hong Kong, Nevis, Panama, Delaware USA, Seychelles, among others. We invite you to partner with us and join the ranks of those who have already benefited from the world-class service rendered by our reliable workforce. See extra information on here.