The BVI is known for its efficiency of tax and company structure, with two-thirds of offshore BVI companies using the islands for corporate structuring. There has been a combination of reasons why investors have chosen the place of incorporation for their businesses, mainly tax planning, the BVI’s legal system and wealth management.
Wealthy Clients use the British Overseas Territory as a heaven for minimizing tax liabilities and wealth management, with a vast majority of transacting properties in Hong Kong, New York, London, Singapore and Shanghai. The BVI’s legal system mirrors the British Common Law, which lays the foundation of the legal system in major Anglo-Saxon countries. Most importantly, when there is a commercial dispute taking place under the jurisdictions of the BVI, this can appeal to the Privy Council in London.
Apart from the advantages above, the BVI offers more to investors worldwide, this includes :
1 low cost
Compared to the setup fee of the Cayman Islands, the BVI offers the cheapest cost with the same standard.
2 tax efficiency
No income tax, corporate tax, capital gain or any form of wealth tax should be levied on individuals and corporates.
Neither the details of shareholders nor the details of shareholders are available to the public for viewing. However, the BVI upholds the highest standard of confidentiality in relation to money laundering and criminal activity. The BVI was one of the offshore jurisdictions that have adopted the AML regulations that are compliant with the Financial Action Task Force.
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We also offer online BVI company formation and management services, please click here to start the application.