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5 Minutes Offshore
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Currency exchange rates: USD/1 unit
2017.12.12
HUF 0.0038
GBP 1.3367
CHF 1.01
RUB 0.0169
HKD 0.1281
JPY 0.0088
CNY 0.1511
CAD 0.7777
AUD 0.7526
BRL 0.3052
EUR 1.1796
OFFSHORE COMPANY FORMATION
British Virgin Islands
The leading jurisdiction in the world offshore market, which basically introduced the IBC company format in 1984. Numerous countries and jurisdictions subsequently “copied” the company law. From the point of view of the number of companies formed, over the last 10 years the BVI has always been among the podium places. Extremely popular and the preferred jurisdiction of lawyers in particular.
 
Location: Between the Caribbean Sea and the North Atlantic Ocean, east of Puerto Rico.
Constitutional form:  British Overseas Territory
Population: cca. 30 000 (July 2010)
Area: 153 km²
Capital: Road Town
Currency: USD
Official languages English
Time Zone: GMT -4
INCORPORATION DATASHEET
Method of incorporation / registration: The Memorandum and Articles of Association must be signed by the subscriber. The subscriber must be a local person, licensed for the purpose.
Company legal form: Private Limited Company by shares
Company status: International Business Company (I.B.C.).
Source of corporate legislation: The International Business Companies Ordinance, 1984.
Possible suffixes to company name: Ltd., Limited, Incorporated, Inc., Corp., Corporation or S.A.
Restrictions on company name: The terms Bank, Insurance, Trust, Trustee, Chamber of Commerce, Municipal, Royal, British may not appear in the company name.
Time required for incorporation: 4-5 weeks
Number of directors: Minimum 1 of any nationality
Number of shareholders: Minimum 1
Capitalisation: No minimum requirements
Accounting / reporting requirements: Accounts not required, but documents of transactions must be kept.
Type of shares: Registered
Annual tax and duties: Minimum 350 USD if the authorized capital less than 50 000 USD
Information publicly available: Memorandum and Articles of Association, registered office and registered agent
Disclosure of beneficiaries: Not required
Registered office: Local registered office is required by law.
Registered secretary / agent: Local registered agent is required by law.
Double tax treaty: The BVI have DTTs with Japan and Switzerland.

 

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92 Billion Flows Through BVI Each Year    05.02.2014
BVI's Foreign Investment Fourth Highest Globally In 2013    04.02.2014
BVI Given Top Tier Rank By Financial Stability Board    02.01.2014
BVI company incorporation figures show continued decline    21.11.2013
Bermuda, Jersey and BVI Branded as Tax Havens    25.09.2013
BVI admits France had reasons for blacklisting    23.09.2013
BVI in FATCA talks    22.08.2013
BVI Aims To Foster Stronger Ties With Dubai    20.03.2013
BVI Business Companies Act receives update through new Amendments and Regulations    03.12.2012
BVI: changes in company law    01.12.2012
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