BVI companies and corporate services by OMC Group? The main advantages of registering an offshore company in the British Virgin Islands are as follows: Tax exemption is legal in the BVI and the jurisdiction applies the territorial taxation system. This means that no taxes are due if the resident company does not make any income in the territory of the BVI. The application of this taxation system is going to continue in the foreseeable future while some other offshore jurisdictions are increasing the tax burden on business companies registered there.
Could my BVI company be conducting “shipping business”? Does owning a private pleasure vessel constitute shipping business? No, it does not. If the company is chartering or renting the vessel to third parties under contract, then “Yes”, your BVI company is conducting shipping business. Does the company provide general HR and/or payroll services to crewmembers? If “Yes”, your BVI company is conducting shipping business. Does the company provide placement of crew-members in ships or vessels and the repatriation of outgoing crewmembers? Does it participate in the relevant logistics, like getting the plane tickets, airport transfer etc.? If “Yes”, your BVI company is conducting shipping business.
According to one of the amendments of the BVI BC Act, since December, 31st 2009 all bearer shares which have not been placed under an official and authorized custody, will be considered as disabled, thus the holders of such shares will not be able to exercise any right over the company such as the right to vote or to receive dividends, nor will be able to transfer the company. Shareholders: A minimum of one (1) shareholder is required. Corporate or natural shareholders are permitted. No details of the shareholders appear on the public register but a register of shareholders must be kept at the registered office of the BVI Company. 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. Find more details on BVI jurisdiction.
If you aim for the former group, you should consider everything carefully. Some no-tax jurisdictions are changing their policies fast. They are starting to impose taxes and regulations on certain kinds of income and business activities. And some places have a really bad reputation in the business world. These are the ones you should avoid. Bad-reputation jurisdictions would cost you a hard time opening a bank account and running your company. In particular, banks in Singapore or Hong Kong are very concerned about opening an account for companies in tax havens. The same goes with customers and clients. They would also be concerned to do business with your company if it is incorporated in such jurisdictions.
Established in 1955, OMC Group (OMC) is a solid multinational company that provides world-class corporate solutions from its global network of offices. OMC can offer clients more than 65 years of experience as an international management company and provides valuable services in many areas of international business. Our culture is built on the importance of providing high-quality customer service, ensuring a fast, friendly and efficient response to our clients’ needs. 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. Discover additional details at https://www.omcgroup.com/.