BVI companies economic substance and administration services with OMC Group? 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.
Insurance business means the business of undertaking liability under a contract of insurance to indemnify or compensate a person in respect of loss or damage. Including the liability to pay damages or compensation contingent upon the happening of a specified event, and includes life insurance business and reinsurance business. Could my BVI company be conducting “fund management business”? Is the company subject to any fund or securities management regulation or supervision anywhere? If “Yes”, your BVI company is conducting fund management business. Is the company licenced to sell securities, pension schemes, mutual funds or other types of investments? If “Yes”, your BVI company is conducting fund management business.
According to one of the amendments of the BVI BC Act, since December, 31st 2009 all bearer shares which have not been placed under an official and authorized custody, will be considered as disabled, thus the holders of such shares will not be able to exercise any right over the company such as the right to vote or to receive dividends, nor will be able to transfer the company. Shareholders: A minimum of one (1) shareholder is required. Corporate or natural shareholders are permitted. No details of the shareholders appear on the public register but a register of shareholders must be kept at the registered office of the BVI Company. 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. Read additional info on BVI Economic Substance.
The offshore incorporation process is rather simple and fast. In fact, you can register a company in certain countries just within a few days. The incorporation requirements are normally very minimal. The best thing is that many service providers out there can help you with the registration. All you need to do is find a trustworthy provider, pay for service, and supply necessary documents. They will go on and register the company on your behalf. You do not need to travel or care about the hassle of paperwork. As for the company maintenance, it varies according to different jurisdictions. However, you can expect the reporting requirements to be very minimal too. Some countries also offer many exemptions for small businesses in regard to annual compliance. You can always get help from outsourcing services to relieve the burden of accounting or tax filing requirements.
Established in 1955, OMC Group (OMC) is a solid multinational company that provides world-class corporate solutions from its global network of offices. OMC can offer clients more than 65 years of experience as an international management company and provides valuable services in many areas of international business. Our culture is built on the importance of providing high-quality customer service, ensuring a fast, friendly and efficient response to our clients’ needs. 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 at this website.