Sable Trust Limited provides detailed advice on the incorporation and use of BVI companies and where required can work in conjunction with other professional advisors in order to tailor services to specific requirements.
The BVI Business Companies Act, 2004, as amended, includes a number of important provisions that enhance the BVI Business Company as an extremely versatile and adaptable corporate vehicle. The following examples demonstrate the flexibility of this corporate vehicle:
- Investment holding
- International trading
- Real estate ownership and management
- Ship management and yacht ownership
- Intellectual property
- International e-commerce operations
- Equipment leasing
- Financing
- Employment
- Entertainment and professional services
- Export tax incentive maximization
- Commissions
The use of a BVI Business Company for regulated activities such as banking, trust services, insurance and mutual fund business is restricted and separate licensing is required.
BVI Business Companies can be established within one working day in most cases and the Registry of Corporate Affairs provides a range of post incorporation services on a speedy and cost-effective basis, including:
- Searches
- Certified copies of corporate documents
- Certificates of Good Standing
- Registration of mortgages and charges
- Continuation / redomiciliation of companies into or out of the BVI
Notable features of a BVI Business Company include:
- A minimum of one shareholder and one director, with no residency requirements
- Registered and bearer shares can be issued and holders of either can convert such shares into the other type. Bearer shares are required to be held by an approved or authorized custodian
- Statutory power given to engage in any lawful activity
- Purchase and ownership by the company of its own shares is permitted
- There is no requirement to maintain a public record of the identity of shareholders or directors
- The ability to hold Board meetings anywhere in the world and can be conducted by telephone
- Exemption from all BVI taxes and stamp duty
- Online name reservation and incorporation
- Shares issued in any currency or for consideration other than cash
- No annual general meeting required
- Freedom to transfer assets, merge or consolidate with foreign entities
- A foreign corporation can continue as a BVI Business Company provided the laws of the jurisdiction of original incorporation expressly permit it to continue to another jurisdiction
- Straightforward incorporation procedures
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