Recently, more and more international companies have been counting on offshore company incorporation. This involves setting up a shell branch overseas, thus shielding their possessions from litigation and various other problems. Among the many offshore financial centers, the British Virgin Islands (BVI), an overseas region of Great Britain located in the Caribbean, is one of the most prominent.
Special regulations and statutes, combined with stable financial and political environments, make the BVI a optimal place for business entities to establish BVI companies. Nonetheless, given its many perks, signing up a shell BVI business could involve a great deal of hard work. With this in mind, below is an review on how to register a BVI company.
Identifying the prospective legal framework for your company is the first step. Relying on your company, you can form an ordinary resident company, a public company, a restricted collaboration, and numerous more. This phase is typically conducted with the help of a attorney to ensure that the very best legal structure for your business.
The succeeding step is to submit a company name and obtain the assent of the Registrar of Companies. There are particular guidelines regarding your business's name. For example, the name needs to be in English and should not be abhorrent or obscene. Additionally, the suffixes (Co., Ltd., Inc., etc.) you might utilize for your business name are restricted to ones which denote the legal structure of your business.
Once your business's name has been authorized, you have to ready a Memorandum and Articles of Association, which will be filed with the Office of the Registrar of Companies. The Memorandum describes the business tasks your company could take part in. However, the Articles of Association specifies the guidelines for the company's internal management.
Once you have completed the other processes of your extensive offshore company incorporation, you should submit the names and addresses of all shareholders, members, and directors, together with copies of their passports, business mortgages and charges. As soon as this is finished, your business might start its operations in the BVI. To find out more, see ehow.com/how_7208382_register-bvi-company.html.
Everything You Should Learn About BVI Company Registration