Excellent BVI companies economic substance tricks in 2021? The main advantages of registering an offshore company in the British Virgin Islands are as follows: Tax exemption is legal in the BVI and the jurisdiction applies the territorial taxation system. This means that no taxes are due if the resident company does not make any income in the territory of the BVI. The application of this taxation system is going to continue in the foreseeable future while some other offshore jurisdictions are increasing the tax burden on business companies registered there.
Could my BVI company be conducting “banking business”? Is the company subject to any banking regulations or supervision anywhere? If “Yes”, your BVI company is conducting banking business.. Will the company be receiving funds or deposits from the public in any manner? If “Yes”, your BVI company is conducting banking business.. My company has a bank account; does this count as banking business? No, it does not. Having one or several bank accounts is not considered banking business.
Records and Underlying Documentation: StartingfromJanuary, 15th 2016 all companies shall keep records and underlying documentation for a period of at least five (5) years. In case the records and underlying documentation are kept in a place different from the registered agent’s office, the registered agent shall be informed about the physical address where the records and underlying documentation are kept and the name and address of the person responsible for their custody. 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. Discover more information on BVI company.
Generally, it is a must for companies to register and maintain their profiles and data with the Company Registrar. However, you can feel secure as all information of identity would be kept confidential. Many offshore countries shall not disclose the company’s beneficial owners, directors, and shareholders to the public, except in certain cases like a court order or international arrangements between related overseas jurisdictions. Many jurisdictions provide an excellent cover for your assets. Besides financial privacy policies, you can benefit from the foreign judgment denial. This means, your assets are shielded against the judgment made by foreign courts. Only the court of the incorporation jurisdiction can place a judgment on the assets.
The continued OMC Group success is reflected in our commitment to serve our clients as a TOP PRIORITY. Our well-established presence is made up of a fully owned network of offices in major financial centers. Through this global system, our clients gain access to a unique multinational family-style organization which can support their needs and provides a variety of corporate services including company formation in accordance with major standards in the industry to comply with the new business requirements. 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 additional information on https://www.omcgroup.com/.