High quality BVI companies activity information in 2021
Professional BVI companies guides right now? 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.
Fund management business: Means the conduct of an activity that requires the legal entity to hold an investment business license pursuant to section 4 and category 3 of Schedule 3 of the Securities and Investment Business Act, 2010. Category 3 of Schedule 3 of the Securities and Investment Business Act, 2010 reads as follows: Sub-category A: Managing Segregated Portfolios (excluding Mutual Funds) Sub-category B: Managing Mutual Funds Sub-category C: Managing Pension Schemes Sub category D: Managing Insurance Products Sub-category E: Managing Other Types of Investment. Reference should be made to SIBA and to the FSC Code for a more detailed understanding of these concepts. It should be noted that management of funds is contrasted with the business of being a custodian of investments, which falls within Category 5 of SIBA.
The registered agent shall be informed in a period of no more than 14 days about any changes in this information. The records and underlying documentation shall show and explain the company’s transactions and allow the financial position of the company to be determined accurately. The penalty for not fulfilling this requirement is of US$50,000. Register of Beneficial Owners: Since June 2017 the BVI Government enacted the Beneficial Ownership Secure Search System Act, 2017 (“BOSSs Act”) which creates a secure system for effective, efficient, and confidential storage of information regarding the beneficial owners of companies registered in the British Virgin Islands. 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 additional information on BVI companies.
You open a company in the British Virgin Islands (BVI) to provide services overseas. You also establish your company’s management in another country to make it not a BVI-resident for tax purposes. These will ensure no corporate tax will be paid in this jurisdiction. And since BVI has a fair reputation, you can open a corporate bank account in Singapore. This will allow your company to receive money from customers with ease. If necessary, you then need to establish your tax residency in another country where you can receive your business money without being taxed.
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. Find additional information on OMC Group.