Offshore shelf companies that are incorporated in the British Virgin Islands (BVI) are used for asset protection and wealth management. Also known as “tax haven” companies, offshore companies are synonymous with tax planning structures, offshore trading and offshore investments.
What are the benefits of an offshore company in the BVI?
International Tax Planning
An International Business Company (IBC) is completely exempted from any taxation in the BVI.
You can conduct business without corporate taxes and no tax reporting responsibilities in the country.
Less compliance requirement
– No annual return is required.
– No tax return is required.
– No audit is required.
– No disclosure of the beneficial owners is required.
Confidentiality
The privacy of Shareholders and Directors names is protected. The only documents of an IBC that is on public record are the Certificate of Incorporation and the Memorandum and Articles of Association. The address of the registered BVI office is shown, but share registers can only be disclosed to members with the permission of the Directors or the court.
Accounts
An IBC shall keep such accounts and records as the Company Directors consider necessary or desirable in order to reflect the financial position of the company. However, there is no requirement to prepare audited financial statements.
Interested in setting up an offshore company in the BVI?
Our Offshore Company (BVI) Incorporation Package costs S$2,800.00 The package is inclusive of the following:
– Professional fees
– Official Certificate of Incorporation
– Government licence fee (for 1st year)
– Share certificates, common seal, statutory registers, Memorandum and Articles of Association
– Singapore Agent and secretarial fee
– Mandatory provision of Registered Office in the BVI
– Maintenance of statutory records and standard compliance
Thereafter, our annual maintenance fee for the second year onward will be S$1,800.00. The BVI incorporation process usually takes about three weeks. For the opening of the bank account, the Company Director and signatory have to be physically present in Singapore.
Contact us for a discussion.
