BVI Company Registration

Advantages of BVI Company Registration

Confidentiality of information

BVI firmly protects the privacy of company directors and shareholders and does not compel the disclosure of relevant information, providing strong protection for investors' personal privacy and business secrets

Tax incentives

BVI offshore companies are not subject to any local income tax, property tax, VAT, business tax, etc.

sound legal system

The BVI has a sound and independent legal system, which provides a solid legal foundation for the company's stable operation.

VIE structure can be set up

Implementing asset reorganization and overseas asset restructuring by building a multi-layer BVI company structure provides companies with flexible operating space

Facilitate listing operations

The BVI company structure makes capital operations easier and facilitates the expansion and development of enterprises in the international market.

Registration is easy and convenient

BVI company registration is relatively simple, there is no limit on the number of shareholders, and the business scope is wide and less restrictive.

BVI Company Registration Requirements

company identification: The name of the BVI company must end with the word "Limited" and cannot contain words that are considered to have a similar meaning such as "Trust Company" or "Bank" unless the appropriate license is obtained.

company director:: One or more directors, who may be legal entities or natural persons of any nationality, who must be at least 18 years of age.

Company Shareholders: Shareholders need to be at least 18 years old and their personal data need not be disclosed.

registered capital: No actual payment of registered capital is required; the standard authorized capital of a BVI company is set at US$50,000, divided into 50,000 shares of US$1 each.

Registered Agent and Registered Address:A BVI company is required to appoint a registered agent and the registered address of the company is located at the registered agent's office.

Scope of Operation:In principle, there is no strict restriction on the scope of business of a BVI company, and it can engage in any business of any nature under the premise of legality. However, special industries such as finance, banking, credit and insurance require special government approval.

BVI Company Registration Process

Approve the company name and determine the final name in English and Chinese.

Fill out and submit the BVI registration application form, power of attorney and agreement, and pay the advance payment at the same time.

Clarify information on shareholders, directors, share ratios and registered capital, and submit relevant information.

Register with the relevant BVI authorities.

Upon successful registration, hand over the full set of company documents and collect the balance of payment to complete the document preparation.

Common types of BVI company registration

1. Business Company (BC): Also known as "International Business Company" or "Exempted Company", it is the most popular and widely used type of company in BVI, especially suitable for international trade and structuring. Key features include privacy protection and tax benefits.

2. Limited partnership (LP): a partnership consisting of at least one general partner and one or more limited partners. Key features include segregation of duties and investment flexibility, suitable for risk segregation and asset management.

BVI Company Registration Fee

Since the exact cost of registering a BVI company involves a number of factors (e.g. registered capital, registered address, agent's service fee, etc.), it is not possible to provide the exact amount of the cost here. It is recommended to consult a professional registered agent or lawyer for a detailed fee list and quotation.

Role of structuring a BVI company for overseas listing

In the framework of overseas listing of domestic companies, basically the BVI company as the main body of foreign investment in the acquisition of domestic enterprises, and then holding domestic enterprises. If the Cayman company owns 100% of the BVI shares, the listed company can set up another BVI company under the Cayman company if it has any new business in the future.

In BVI tax law, only the shareholding between a BVI company and a BVI company is completely tax-free. It is possible to register multiple "shell" companies in multiple offshore registries, with layers of interlocking holding relationships, and the information of the companies in each location is confidential, making it very convenient for related transactions, so the more complex the structure, the safer it is.

Through the above, the main roles that can be played by a reasonable setup of BVI companies in the upper and lower levels of a directly listed overseas holding company are as follows:

1. To facilitate the control of listed companies by major shareholders.

2. It may enable the company's management and certain shareholders to bypass the lock-up period.

3. You can enjoy the low rate of BVI company income tax.

4. When there is a change in the company's business, the original business can be given up through the sale of the BVI company to enjoy the tax treatment of the BVI company. 

Annual Audit of BVI Islands Companies

An annual audit is required after the registration of a BVI company to ensure the legality and compliance of the company. The annual audit includes updating company information and paying annual fees. It is recommended that companies conduct annual audits on time to avoid deregistration of the company or facing other legal consequences due to failure to conduct annual audits on time.

The time of annual audit of a BVI company is based on the time of incorporation:

For companies established in the first half of the year (January-June), the deadline for annual audits is May 30 of each year.

For companies formed in the second half of the year (July-December), the deadline for annual audits is October 30 of each year.

Consequences of Late Annual Audit for BVI Companies

1-2 months late, plus a penalty of 10% annual review fee.

3-4 months overdue, plus a penalty of 50% annual audit fee.

If it is 5 months or more overdue, the business license will be revoked and the company will be cancelled.

BVI Company Related Services