BVI Incorporation

Why set up a company in the the British Virgin Islands?

The British Virgin Islands (BVI) are part of the Virgin Islands archipelago which is classified as a British Overseas Territory but is not part of the European Union.

It is considered to be the most popular offshore company formation location with over 41% of all offshore companies set up here.

BVI company formation key information

After completing the company formation process, there are many factors one needs to keep in mind to maintain their company and ensure that everything runs efficiently:

• There is no authorised capital requirement for a BVI company.
• Corporations need to pay annual renewal fees which changes periodically.
• Corporations are not entitled to share any information about the company’s directors, officers, owners or shareholders in any public records. The only company records that are made available to the public are the Articles of Association and Memorandum.
• Corporations in the BVI are not required to keep annual records, but they are required to publish their annual financial statements and must be audited once a year by an independent auditor.
• BVI companies are required to have annual general meetings, but it is not necessary to hold these meetings locally. They can happen anywhere in the world.

Available Entities:

• Business Company

BVI company setup requirements:

• A unique corporation name. Generally, during the company formation process, three versions of the desired name are submitted in the expectation that at least one of them gets approved.
• A unique corporation name. Generally, during the company formation process, three versions of the desired name are submitted in the expectation that at least one of them gets approved.
• BVI corporations are required to have a local registered agent as well as a regional office address. This address will be used on official documents.
• At least one director and one shareholder are required. The director does not need to hold BVI residency status and can either be a private person or a business entity.

How More Group can help you

Setting up a BVI company is relatively straightforward and cost-effective if completed by an experienced professional. More Group has helped several clients in setting up a BVI company along with a corporate bank account. After establishing a company, there are many rules that business owners need to keep in mind to maintain their company and ensure that everything runs as smoothly as possible.

More Group understands how valuable your time and resources are when it comes to running a business, so we ensure that none of it is wasted in figuring out how/when/where to submit your financial statements or worrying about any legal technicality that could potentially disrupt the day-to-day activities of your business. We can help you find the optimum setting for your company so that the only thing you will need to focus on is your business. Following incorporation, we can look after all your accountancy needs including statutory accounts, registered office, and payroll.