We have been working with David for 20 years. His dedication and professionalism over this time has kept our business relationship strong and growing. His experience in BVI and Asia is priceless.
Mr Ho
Accountant
When we work with your business, we act as your offshore partner — we’re invested in your success as it determines our own. That’s why we learn more about your business and your requirements before delivering offshore incorporation services. With a deep understanding of your business, we can ensure your company complies with corporate legislation, including the BVI Economic Substance Act.
The Economic Substance Act applies to certain BVI companies, depending on their activities and tax residency. Our accounting and legal professionals are experts when it comes to compliance — we can advise on whether or not the Economic Substance Act applies to your business and help you ensure and demonstrate compliance if necessary.
In order to successfully register your company in the British Virgin Islands, your business must first comply with the British territory’s requirements and procedures.
A business company requires at least one Director and one Shareholder but both roles can be filled by the same person. It is also not legally required for your company’s Shareholders and Directors to be of a specific nationality, making it fairly simple for international companies to complete the BVI company incorporation process.
BVI company incorporation is popular amongst offshore companies as it features no minimum capital requirements, there is no income tax, no need for auditing, as well as no capital gains or withholding taxes.Additionally, there is no residency requirement for the Shareholders, Directors and Company Secretary.
There are several steps involved in the BVI company incorporation process which are listed below:
Request a free consultation to learn more about our corporate services and receive professional advice on setting up a company in the British Virgin Islands. We’ll create a bespoke proposal outlining how our services can help you meet your objectives and ensure compliance.
To incorporate a company in the British Virgin Islands, you will need to submit several documents to the Companies Registry for approval. These include the company’s Memorandum and Articles of Association, and details of the directors and beneficial owners of the business. The beneficial owners are not publicly available.
The process for BVI company incorporation is straightforward and the company is normally incorporated in 24-48 hours. If you have prepared the essential documentation and accurately followed the correct procedures, it will be a simple and smooth process.
The cost for BVI company incorporation is approximately SGD2,800 (USD2,000). However, it may vary depending on your specific business needs. Contact our team at Segovia today for more information.