BVI Company Formation

The British Virgin Islands are the British Overseas Territory in the Caribbean situated towards the east of Puerto Rico as well as the US Virgin Islands and North-West of Anguilla.

The BVI comprises different islands like Virgin Gorda, Tortola, Anegada, and so forth, and the locale holds a populace of around 35,802.

During the 1980s, the BVI joined the universe of offshore banking and has become a positive objective for global investments.

In 2004, the BVI Business Companies Act dispensed with the differentiation among offshore and local companies in the islands, in this manner making BVI Offshore Financial Company open at a worldwide front.

Requirements

For British VirginIslands company formation, you require the following:

    a.    Name of the BVI company

The name of a BVI Company commands "Corporation", "Limited", "Société Anonyme"," Incorporated" or its related truncations "Inc", "Corp", "Ltd", or "SA". The name can be enlisted in Chines.

However, then English interpretation of the name is a mandate. It is to be noticed that words like "Credit/Care," "Bank," "The Fund," "Insurance" is strictly not permitted.

    b.    Registered capital

No base capital should be paid for the enlistment of BVI companies. The BVI companies can't give shares less than the par value of shares.

Just ultimately, paid offers are taken into account issuance with an adaptable method of instalment.

    c.    Share certificate book

The given shares must hold the mark of any two directors or officials. In the event that if that is absurd, the company seal can be utilized.

    d.    Shareholders

One shareholder can shape a BVI company. Nonetheless, the shareholders' details must be recorded in the company books and BVI Registrar of Companies.

    e.    Annual general meeting

There is no requirement concerning AGM for a BVI company. The investors and directors have the flexibility to direct their gatherings through various correspondence modes like a phone or other electronic medium.

Conclusion

Presently, the incorporation cycle would do the trick if the investors can present the particular records required for enrollment. 

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