A BVI company must meet the terms with the BVI Company set up Act, 2004 – which is the key and the most vital piece of legislation regulating the registration, status, as well as operation of the Business Companies in the British Virgin Islands.
Benefits of BVI BCs
Why choose BVI offshore company set up? The British Virgin Islands is observed as one of the most demanding destinations for offshore company incorporation in the globe. Its open economy coupled with a favorable tax law within a strong authoritarian framework has been the catalyst of a large number of non-resident investors flocking into the territory.
One of the most frequent tax-free jurisdictions - The BVI has over 400,000 BCs on the Register as of Sep 2019 – with a gracious business environment, comprehensive of around sixty islands in the Caribbean Sea, and is a British Overseas Territory which provides a politically and inexpensively stable environment.
Attractive legal framework - The country has a striking legislative framework that represents its sovereign judicial system based on English common law.
Prominent economic sectors - Outstanding among key economic sectors like tourism or else international corporate services, a booming offshore financial sector has been witnessed in the BVI. By virtue of its helpful government, the superior offshore legal system, and the strong survival of leading international accounting businesses, The BVI Company set up is comparatively a good alternative for those seeking offshore business plus opening offshore bank accounts.
Excellent location - The BVI’s good location is another reason. It permits its companies favorable conditions to effortlessly access contemporary telecommunications by sea and air. Additionally, this place has US dollar as the executive currency, thus you can feel secure that there are no currency exchange control and no limits on cash flow movements in this authority.