Best BVI companies tips right now? The British Virgin Islands are located in the northeastern part of the Caribbean Sea. It is a British overseas territory and its legislation is consequently based on the British law. Ninety percent of the BVI population lives in the capital city of Road Town on the island of Tortola. The two pillars of the local economy are financial services and tourism. A large number of offshore companies are registered in the BVI, which also greatly contributes to the overall prosperity of the territory. The official currency there is the US dollar and there is no currency control. The official language is English.
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.
The BVI Business Companies Act, 2004 (“BC Act”) came into force on January 1st, 2005, to replace the International Business Companies Act, 1984 and the Companies Act (Cap 285). The following types of companies can be incorporated under the BVI BC Act: Companies Limited by Shares, Companies Limited by Guarantee, Companies Limited by Guarantee Authorized to Issue Shares, Unlimited Companies with or without Shares, Restricted Purposes Companies (or SPVs), Segregated Portfolio Companies (or SPCs), Limited Partnerships (LP), PTC. Corporate Requirements: Name: BC names must contain the words Corporation, Incorporated, Sociedad Anónima, Societé Anonyme, Limited, or their abbreviations. Chinese names together with their English translation can be registered in the BVI. Numbers are permitted as part of the company name as well as foreign characters. See even more info on BVI company.
The pressure definitely is on choosing the right place. Incorporating in a wrong jurisdiction with unsuitable policies can cost you severe consequences and a waste of resources. That’s why thorough planning and research is a must (or at least the right consultation from the real professionals). Corporate giants do this all the time. Apple, Samsung, Google, Berkshire Hathaway, they all have established offshore companies as their subsidiaries in many countries all over the world. Making use of favorable policies while still complying with them, these giants legally reduced their payable taxes by a significant amount.
The continued OMC Group success is reflected in our commitment to serve our clients as a TOP PRIORITY. Our well-established presence is made up of a fully owned network of offices in major financial centers. Through this global system, our clients gain access to a unique multinational family-style organization which can support their needs and provides a variety of corporate services including company formation in accordance with major standards in the industry to comply with the new business requirements. 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. Find even more details at OMC Group.
