Offshore companies are corporations created in an overseas jurisdiction which is politically steady and contains a trusted lawful system, for instance Jersey Companies.
The British Virgin Islands is an overseas legal system and British offshore territory and therefore you are able to set up your own British Virgin Islands Company there.
The Virgin Islands are a selection of approximately 40 tiny islands situated in the Eastern Caribbean, to the east of Puerto Rico.
They are sometimes known as the British Virgin Islands (BVI) and the islands constitute the main remaining islands constituting the U.S. Virgin Islands.
British Virgin Islands government publications and rules have recently simply referred to the Territory as the “British Virgin Islands”.
The British Virgin Islands consist of the main islands of Tortola, Virgin Gorda, Anegada and Jost Van Dyke, in addition to over 50 other smaller islands.
The capital is Road Town and approximately fifteen of the islands are inhabited.
According to the BVI IBC Act of 1984, the overseas companies are let off from all the taxes for the period of twenty years.
Flexibility in company construction of an offshore British Virgin Islands Company includes:
- Only one director or shareholder required for the company formation.
- Shareholder(s) and director(s) may be the same person.
- The shareholder(s) and director(s) can be a natural person or a corporate body.
- There is no requirement of appointing local shareholder(s) and director(s) for British Virgin Island Companies.
- There is no requirement of resident secretary.
As well as the British Virgin Islands, you can also set up a Jersey Company.
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