Starting-Up Business Offshore: Quick and Professional Offshore Company Formation & Online Offshore Business Incorporation in BVI and Other Tax Haven Countries

BVI INCORPORATING COMPANY: OFFSHORE IBC INCORPORATION BVI - INCORPORATE COMPANY BRITISH VIRGIN ISLANDS WITH THE BVI COMPANIES HOUSE

Finding and using the appropriate information on this page: Incorporate in BVI: What We Can Do For You | Incorporate in BVI: Why Go Offshore? | Reasons to Register a Business in BVI | Taxation | Shareholders | Directors | When You Need a Nominee Director | What Nominee Directors Will Do For You | Specific Actions Taken By The Nominee Director(s) | Terminating Nominee Director Services | Reporting Requirements | Restrictions on Name and Activity | Local Requirements | Secrecy | Restrictions on Trading | Bearer Shares |

Looking for a quality information & practical guidance regarding how to start your own business in the United Kingdom, how to get your limited company set-up and running, how to select the best type of a business form, how to register a private corporation; and need a small business start-up advice? Coddan is the firm with many years experience in assisting clients with business formations in the British Virgin Islands BVI, UK (England, Wales, and Scotland), Ireland (Republic of Ireland and Northern Ireland), Cyprus, and USA as well as with the formation of offshore companies, offering in most circumstances the same-day online company formation. Our expert knowledge and extensive experience of setting-up of business and companies’ structures has made us possible to provide the professional, prompt, and efficient service.

Incorporate in BVI: What We Can Do For You

 
Our team of consultants will be pleased to assist with your enquiries related to establishing and maintaining limited liability companies and partnerships or creating complex corporate legal structures. On our web-site, you will find a number of useful tips and information, downloadable documents, which may help you to learn what to take into consideration when deciding among public companies, private limited liability companies, LLPs, sole traders, limited partnerships and other structures. Our great value price to incorporate in BVI starts from just £650.00, we consistently provide quality assistance and the best service to satisfy our valued customers.

We provide different packages with the different options depending on your business needs; each package offers the complete formation of a limited company, which is usually ready to commence trading within six to eight hours. Our packages offer the perfect results for those people who are taking the first step into the business or smaller companies whose budget won't stretch to bespoke business solutions, there are no dumbfounds and no hidden charges, - what you see is what you pay! We can also assist clients with the special needs or requirements, we could make a tailor made package that would suit your personal needs and wants. If you choose us as your corporate service provider, you will almost immediately realise that our team of proficient advisors, is your own dedicated support team.

Company registration documents submitted electronically, which allows us to offer you a timesaving service and eliminate the necessity to complete the paper forms, sign them by your company officers, and certify by a solicitor or notary public.

1. There is no minimum paid up capital requirement, and capital may be expressed in foreign currency. 2. A BVI business company may issue bearer shares and shares of no par value; but bearer shares must to be held in the custody of either an authorised or recognised custodian. 3. Subscribers may include an individual, a corporation or a Trust; an offshore company may have a nominee shareholder, who can be provided by Coddan. 4. There is a minimum of one director, who can be an individual or a corporation, a BVI offshore company may have a nominee director, who can be provided by us. 5. A secretary is not legally required (but can be useful). 6. Each BVI offshore company must maintain a registered agent and a local registered office address using licensed agents - these are the only details about an offshore business company that are available on the public file. 7. No meetings are required of directors or members. 8. Directors, secretary and shareholders can be of any nationality. 9. There are no exchange controls for a British Virgin Islands business companies. 10. Foreign companies may continue (re-domicile) as BVI business companies, and vice versa. Monday - Friday: 9:30am to 18:00pm +44 (0) 207.935.5171 +44 (0) 800.081.1510 +44 (0) 141.530.8188 +44 (0) 289.099.8744 info@ukincorp.co.uk

Incorporate in BVI: Why Go Offshore?

 
Many people are familiar with using corporate entities for business or holding personal assets. From a legal perspective an offshore company is very similar to an onshore company. So why go offshore? Offshore companies may be used for various purposes and may secure a number of advantages not available onshore. Persons wishing to utilize these benefits need to ensure they comply with applicable onshore laws and should obtain professional tax advice if necessary. The list below sets out examples of uses of an offshore company. In practice the modern day use of the corporate entity is endless. International Business Corporations (IBC's) offer the following features and advantages: -

• Asset Protection: IBC's are not required to keep assets or have bank accounts in the British Virgin Islands (BVI), nor are there restrictions or limitations on the use that an IBC may give to its assets and funds.
• Board and Shareholders' Meetings: Shareholder and Directors' meetings may be held in any part of the world at any time. There is no requirement as to the frequency of such meetings, and so they are not required to hold annual meetings. Decisions reached by shareholders or the Board of Directors may be adopted without a physical meeting, so long as the resolution is duly approved through written or electronic means, such as telex, telegram, fax, etc. Round-robin resolutions are also possible (where the resolution is signed by each director or shareholder in turn as they receive the resolution, rather than approved at a meeting).
• Business Activities: These Corporations may undertake any type of lawful business activity. However, the law specifically limits business enterprises such as banking, trust services, insurance services and other similar financial services to specially licensed companies. All other activities may be conducted with little regulation or interference from the BVI government.
• Corporate and/or Nominee Officers and Directors: We can offer corporate officers and directors or nominees to ensure full service to clients. It is not necessary for the officers and directors to be BVI residents, nor is it necessary for the officers to be directors of the company. Only 1 director is required, although it is recommended that more than one officer be appointed.
• Currency and Exchange Controls: There are no restrictions or controls on currency exchange in the British Virgin Islands, as the US dollar is the local currency. Furthermore, IBC's may be organised with an authorised capital in any currency.
• Documents & Records: With the exception of the Registers of the Company (Share Register and Register of Directors), which must remain in the offices of the Registered Agent, all books and records of transactions may be maintained in any language and kept in any country. There are no requirements to file organisational or accounting information with the Registrar of Companies (other than the Memorandum and Articles of Association). Share registers are only available for inspection by registered shareholders or by order of a British Virgin Islands Court.
• Name Reservation: The Registrar of Companies allows for names to be reserved for up to 90 days.
• Protection from Foreign Authorities: BVI law offers official protection to the shareholders of an IBC and the IBC itself from legal actions of foreign authorities.
• Share Classes: Shares may be established and issued in different classes, with various preferences, privileges, voting rights or restrictions, in accordance with the resolutions adopted by the Board of Directors. Furthermore, an IBC may reacquire and reissue its own shares.
• Tax Advantages: IBC's are exempt from all local taxes and stamp duty. In particular they are not subject to income tax, nor are dividends, interest, income and other monetary benefits paid by an IBC to non-residents of the British Virgin Islands. Upon the sale or transfer of the IBC's shares to a third person, capital gains tax is not payable under BVI law. Furthermore, IBC's are not required to file tax returns or any other type of report or declaration to this government regarding foreign-source income.
• Transferability of Shares: Share of an IBC are freely transferable.

Reasons to Register a Business in BVI

 
The British Virgin Islands seem to have got as close to being a perfect 'private' offshore international financial centre as can be imagined. For 25 years the Government has welcomed offshore business, and has created a world-standard regulatory structure to avoid money-laundering and other criminal activity. Like Bermuda, the BVI decided not to encourage the growth of offshore banking, but instead introduced the BVI international business company which must be the world's most successful offshore entity, and is used extensively in financial holding and investment structures, as well as in trust management. The BVI have also been successful in developing mutual funds and captives, although not being the leading jurisdiction in either case. Finally, the BVI have a strong position in yachting both as a registry and as an operating base.

The British Virgin Islands (BVI) are the group of islands located about sixty miles due east of Puerto Rico. The principal islands are Tortola and Virgin Gorda. Road Town is the capital city and financial centre of the BVI, located on the island of Tortola, which is connected by a toll bridge to Beef Island and where the international airport is situated. The islands of the BVI were christened by Christopher Columbus when sighted in 1493 on his second expedition to the New World as "Las Once Mil Virgines", in honour of St. Ursula and her maidens who sacrificed their lives for God in 4th Century Cologne. The Crest of Saint Ursula is the national symbol of the BVI. The BVI is politically stable; under the 1967 constitution, the Governor represents the Queen and heads an Executive Council. There is a 13-member elected Legislative Council.

As a British Overseas Territory with a long history of political stability, the BVI offers all the security traditionally associated with the British flag. The territory is responsible for its own internal self-government, and is governed by a democratically elected Legislative and Executive Council. Democratic elections are held at least once every four years. BVI Law is based on the British Legal System and English Common Law. The court system is made up of a Magistrates Court, a High Court and a Circuit Court of Appeal of the Eastern Caribbean Supreme Court with final appeal to the Privy Council in England. International banking, commercial and financial services are available in Road Town, and communication facilities in the BVI are first rate.

The only significant tax in the BVI is income tax, which applies to the relatively few local companies and to individuals; there are customs duties and some real estate taxes. The population of 19,000 is of mixed European and Caribbean origin. There is minor tension between the settled population and recently arrived Caribbean economic migrants. The economy is highly dependent on tourism, with financial services also important. There is no pressure for constitutional change. The local currency is the US dollar, and there are no exchange controls.

The BVI introduced its outstandingly successful international business company (IBC) in 1984; there are now more than 400,000 IBCs, with Hong Kong and Latin America the main sources of clients. The BVI has significant mutual fund and captive insurance sectors. Banking activity is, by design, quite minor. The BVI has tried hard to exclude money laundering, mostly with success, and has a relatively good reputation. Offshore business uses the international business company, the limited partnership and the trust; all are exempt from taxation. In conclusion, the BVI Government has a clear understanding of the value and importance of the Financial Services Sector to the local economy.

It is uncommon that any government devotes so much of its planning and resources to make the private sector so globally competitive. Government licence fees and charges by the BVI Companies Registry have remained unchanged and as such are extremely reasonable in contrast with other offshore jurisdictions. As the global economy continues to open up to free trade, OFCs will also develop and expand their range of financial services. It is evident from observing the evolution of BVI law, and its resultant economic activity, that emerging worldwide markets will continue to assist this trend, making the British Virgin Islands a key international commercial and financial business center in the 21st Century.

In common with many other offshore jurisdictions, the British Virgin Islands is responding to pressure from the OECD and FATF by tightening up its regulatory regime. The BVI Government established an independent regulatory body - the Financial Services Commission (FSC) - on 1 January 2002. Then, in October 2002, the BVI Finance Centre was established under the FSC as dedicated financial services marketing unit designed to promote the BVI as a premier international centre for financial services. The Finance Centre is responsible for providing information on the BVI and its activities, coordinating BVI participation at industry conferences and events, liaising with the media and producing marketing material including advertising, brochures and a new web site.

The British Virgin Islands is an attractive offshore location which boasts a stable government and a good history as an effective location for offshore activities. The exact nature of the business company available in the British Virgin Islands is advantageous in-itself, because it can be formed with a minimum of one director and one shareholder (the same person may act as both), and is not subject to any tax in the British Virgin Islands. In addition to the tax advantages, the British Virgin Islands is an inexpensive jurisdiction, the government is responsive to the needs of business, legislation is uncomplicated and flexible, and there are a wide range of professional services available. The fact that it is an English-speaking country makes communication with local agents and providers simple. It is also an attractive holiday destination with an international airport.

The key advantages of an international business company (IBC) in the British Virgin Islands are as follows: -

• The business company is not subject to any company tax in the British Virgin Islands.
• The business company may be formed with only one director and one shareholder.
• There is no requirement for the BC to file annual returns or keep accounts in the BVI.
• There is no requirement for the director to be a resident of the BVI.
• The business company is free to conduct business any where in the world.

• Economy
• Premier
• Deluxe

Our BVI offshore companies are formed as general trading companies. Because of their widely drawn memorandum and articles of association, they are able to conduct most kinds of business. Starting from just £650.00, we offer a range of packages designed to suit the varying requirements of our customers. Our BVI formations typically take from between two and five days to effect, and include: our service charge, the government fee for incorporation, the first year's fees for a registered office address and registered agent are included in the price of this package. Upon formation of your BVI company, we will courier all of the company documents directly to you. THE FOLLOWING UPGRADES CAN BE ADDED TO OUR ECONOMY PACKAGE: 1. Nominee director service for 12 months - £260.00. 2. Nominee secretary service for 12 months - £150.00. 3. Nominee shareholders service for 12 months - £195.00. 4. Opening a bank account from - £500.00. 5. Certificate of incumbency - £120.00. 6. Certificate of good standing - £100.00. 7. Certificate of tax exemption - £125.00. 8. A BVI domain name registration for two years - £120.00. 9. All documents notarised and apostilled - £125.00. 10. Corporate kit - £40.00. Our BVI offshore companies are formed as general trading companies. Because of their widely drawn memorandum and articles of association, they are able to conduct most kinds of business. Starting from just £1,010, we offer a range of packages designed to suit the varying requirements of our customers. Our BVI formations typically take from between two and five days to effect, and include: our service charge, the government fee for incorporation, the first year's fees for a registered office address, registered agent and a nominee director are included in the price of this package. Upon formation of your BVI company, we will courier all of the company documents directly to you. THE FOLLOWING UPGRADES CAN BE ADDED TO OUR PREMIER PACKAGE: 1. Nominee secretary service for 12 months - £150.00. 2. Nominee shareholders service for 12 months - £195.00. 3. Opening a bank account from - £500.00. 4. Certificate of incumbency - £120.00. 5. Certificate of good standing - £100.00. 6. Certificate of tax exemption - £125.00. 7. A BVI domain name registration for two years - £120.00. 8. All documents notarised and apostilled - £125.00. 9. Corporate kit - £40.00. Our BVI offshore companies are formed as general trading companies. Because of their widely drawn memorandum and articles of association, they are able to conduct most kinds of business. Starting from just £1,205, we offer a range of packages designed to suit the varying requirements of our customers. Our BVI formations typically take from between two and five days to effect, and include: our service charge, the government fee for incorporation, the first year's fees for a registered office address, registered agent, a nominee director and a nominee shareholder are included in the price of this package. Upon formation of your BVI company, we will courier all of the company documents directly to you. THE FOLLOWING UPGRADES CAN BE ADDED TO OUR DELUXE PACKAGE: 1. Nominee secretary service for 12 months - £150.00. 2. Opening a bank account from - £500.00. 3. Certificate of incumbency - £120.00. 4. Certificate of good standing - £100.00. 5. Certificate of tax exemption - £125.00. 6. A BVI domain name registration for two years - £120.00. 7. All documents notarised and apostilled - £125.00. 8. Corporate kit - £40.00. Monday - Friday: 9:30am to 18:00pm +44 (0) 207.935.5171 +44 (0) 800.081.1510 +44 (0) 141.530.8188 +44 (0) 289.099.8744 info@ukincorp.co.uk

Dear visitors and our potential clients: please be advised that the BVI Government has adopted a new legislation, which places all the BVI corporate entities within a zero tax regime and restructures the company registration and license fee schedules. The new legislation named BVI Business Companies Act, will replace the existing Companies Act and International Business Companies (IBC) Act.

According to the BVI authorities, the purpose of the BVI Business Companies Act is "to ensure that (the BVI) continues to offer modern, flexible and innovative business companies' legislation that remains attractive to international clients while at the same time providing a suitable legal framework for firms undertaking domestic business." All our clients who have instructed us to incorporate companies in the BVI or may require company incorporation in the future, note the following changes for the different periods:

Companies Incorporated Up To December 31, 2004

Transition period: to ensure seamless transition to the new regime, the BVI authorities have proposed a two-year transition period during which both, the existing IBC Act and the new BVI Business Companies Act will be in force. Companies already incorporated under the IBC Act or the local Companies Act will be permitted to continue their incorporation under those respective Acts until January 1, 2007 in which they will be automatically registered under the BVI Business Companies Act. Bearer Shares: All companies incorporated before January 1, 2005 and that opt for retaining the rights to issue bearer shares must immobilize said shares with an authorized or recognized custodian by December 31, 2010. If the company chooses to register the existing shares, the M&AA must be amended. If the companies choose to maintain the ability to issue bearer shares, it will be subject to increased fee provision in 2008, as yet undisclosed.

Companies Incorporated On or After January 1, 2005

Transition period: The two-year transition period allows new incorporations after January 1, 2005 under all three Acts: IBC Act, the local Companies Act and the new BVI Business Companies Act. After January 1, 2006, new incorporations will be possible only under the new BVI Business Companies Act. Bearer Shares: All companies incorporated after January 1, 2005 and opt for retaining the rights to issue bearer shares must immobilize said shares with an authorized or recognized custodian. Companies allowing bearer shares their M&AA will also be subject to higher fees, as specified above.

The IBC registration process is quick and easy. Most companies adopt standard Memorandum and Articles of Association, and the official review and approval process is completed in approximately 48 hours. Coddan provide a wide range of accountancy services to small and medium sized businesses. We pride ourselves on providing a quality service at reasonable fees. We offer the following services: company formation services. Limited partnership formation services. Registered office and registered agent services; and company and limited partnership secretarial and related services.

In addition, the following are the standard post-incorporation services provided by Coddan: good standing certificates. Certified (and apostilled) copies of all corporate documents on file. Customized certificates to meet specialized business needs. Continuation or redomiciliation in to or out of the BVI. Quick elementary searches of all companies registered in the BVI. Liquidation (voluntary dissolution and winding up) of solvent IBCs. Corporate restructuring and registration of related papers.

As your BVI company formation agents, we can only act on information and instructions given to us. You should not assume that we have knowledge of any factual matters. All of the information contained on this web site is not meant to be advice, nor should it be followed. The information on this site pertains to U.K. law only and is offered as a public service. It is not intended to give legal advice about a specific legal problem, nor does it create an attorney-client relationship. We do not hold ourselves out as offering tax advice, although we do not hold ourselves out as experts in the laws of any foreign country.

If you order an offshore company we usually require to send us by fax, email (as attachments in PDF, GIF or JPEG format) or mail: copy of the passport (with photo, signature and personal data pages) of the beneficial owner of the company; copy of the passport (with photo, signature and personal data pages) of the individual who contacts us and places order with us if he is not the beneficial owner. Beneficial owner is the individual who benefits from ownership of a company regardless of who holds title.

An international business company is a corporate vehicle having limited liability, which, provided it has no business activities in the British Virgin Islands, is wholly exempt from BVI tax on its income and from inheritance or estate tax on its shares. Only a nominal annual fee is payable to the Government (in most cases US$360.00). The BVI international business company is the most widely used vehicle for offshore operations in the BVI; it normally takes the form of a private company limited by shares. The governing legislation is the International Business Companies Act 1984, updated by the International Business Companies (Amendment) Act 1990 and the International Business Companies (Amendment) Act 2002, which restricted bearer shares and imposed record-keeping requirements on professional intermediaries.

Every company files a copy of its memorandum and articles of association, or "M&AA" with the Registrar of Companies upon incorporation. These documents can be extremely brief or very detailed, depends on the law in the particular jurisdiction and on the practices of the particular incorporation agent. These documents lay out all the general information about the company. Usually these documents describe the type of company, its address, operational objects, authorised capital, the procedure for appointing and dismissing directors and officers and their scope of competence and responsibility, the procedure of share allocation, how shareholder's meetings are called and the competence of such meetings and how it should be executed, the procedures of keeping accounts, liquidation and similar administrative matters that are characteristic to any corporate entity.

The memorandum and articles of an offshore company are usually signed by a person called "Subscriber" or "Incorporator". The Subscriber is simply a person (or, more often, a dedicated company) closely associated with your offshore service provider. The Subscriber essentially incorporates the company for you and acts as the first shareholder on your behalf. Otherwise you would have to travel to the offshore jurisdiction and sign the documentation personally. The Subscriber usually subscribes for the legally acceptable minimum amount of shares in the company. After the registration of the company, the initial Subscriber may remain registered on public file as the (nominee) shareholder, or the minimum amount of shares that he usually holds can be transferred to the actual client.

Taxation

An IBC is exempt from taxes provided it does not carry on business with persons resident in the BVI, or accept either banking deposits or contracts of insurance. Interest, dividends, rents royalties, and compensation paid by an IBC to persons who are not residents in the BVI are exempt from taxes. Also, capital gains realized by non-residents with respect to any shares are exempt. There is no Value Added Taxes in the BVI (VAT tax).

Shareholders

A minimum of one shareholder is required and either registered or bearer shares may be issued. No details of the shareholders appear on the public file but a register of shareholders must be kept at the registered office address of the company. Coddan could provide you nominee shareholders.

Directors

A minimum of one director is required. The director does not need to be a shareholder. In addition, corporate and non-resident directors are permitted. Details of the directors are not required to appear on the public file. Coddan could provide nominee directors.

An IBC is managed by a board of directors, which consists of one or more persons who can be either individuals or companies (S.42). The Articles determine the number of directors (S.44). None of the directors need be residents of the BVI. The first directors are elected by the subscriber(s) to the Memorandum; and thereafter are elected and removed either by the members or, if the Memorandum or Articles permit, by the other directors (S.43). A company may maintain a register setting forth the names and addresses of the directors and if so, a copy must be kept at the registered office (S.43.A1). The register need not be available for inspection by the public. However, the IBC may elect to register its register of directors with the Registrar, which then makes it available for public inspection (S.111.A1.b).

Company Formation Service

Offshore jurisdictions are often associated with large corporations and millionaires, but are in fact extremely well suited for small and medium businesses and individuals. Offshore companies adhere to the laws and regulations of the country in which they are situated. Coddan can help you set up a BVI offshore company in a very cost effective yet efficient manner and help you fully understand the many nuances associated with each offshore jurisdiction. Our services are completely legal and include the creation of various types of offshore corporate and trust vehicles for reasons like international trading, intellectual property activities, securities and property holding and financial and estate planning through trusts. Our focus is to integrate and combine various estate planning processes into an estate plan with sensible asset protection components. When used in connection with an offshore trust, an offshore corporation can become a very effective international financial or estate planning structure. Coddan helps you set up all major offshore structures such as companies, trusts, foundations, bank accounts, giving you full freedom, security & confidentiality within the legal framework. We cater to the needs of both individual and professional clients all across the globe.

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Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming *** Popular Offshore Jurisdictions *** Anguilla Bahamas Barbados Belize British Virgin Islands Cayman Islands Costa Rica Cyprus Dubai, UAE Isle of Man Gibraltar Grenada Guernsey Isle of Man Hong Kong Jersey Madeira Malta Marshall Islands Mauritius Netherlands Antilles Nevis Panama Portugal Seychelles St. Kitts St. Lucia St. Vincent and Grenadines Switzerland Turks and Caicos Islands Venezuela Uruguay *** Ready-Made Companies For Sale *** UK Shelf Companies Scottish Ready-Made Business Arkansas Readymade Companies Delaware Off-The Shelf Companies Florida Aged Companies New York Vintage Companies Nevada Shelf Companies BVI Ready-Made Companies Belize Readymade Company Seychelles Shelf Companies Gibraltar Ready-Made Company Nevis Shelf Companies

When You Need a Nominee Director

Nominee Directors are needed when you must maintain a certain level of anonymity when conducting transactions. Nominee Directors are appointed by the offshore company and are carried in the Register of Directors.

What Nominee Directors Will Do For You

Based on the Articles of Incorporation and resolutions of the Board, nominee directors can be authorized to sign specific contracts and agreements or can be given general authority to sign all contracts and agreements.

Specific Actions Taken By The Nominee Director(s)

Prior to signing any documents, the nominee director must first read through the document to ascertain the specific risk attached to the document for the signatory. Because this service must be performed by professionals with some experience a charge is normally imposed for the inspection of such documents.

Terminating Nominee Director Services

When you appoint Nominee Director(s) you will receive a pre-executed resignation. When you are ready to terminate the services, you simply enter the date in the resignation and notify us.

Reporting Requirements

An IBC is not required to file any financial reports or tax returns in the BVI. In addition, the books and records may be maintained in any manner desired and in any part of the world.

Restrictions on Name and Activity

Names must end with one of the following words, or abbreviations thereof- Limited, Corporation, Incorporated, Societe Anonyme or Sociedad Anonima. The following words, and their associated activities, cannot be used: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal and Trust. An IBC may not carry on business with persons resident in the BVI, nor own real estate in the referred jurisdiction, or provide registered offices for companies.

Local Requirements

The local company law requires that an IBC maintain a registered office address within BVI and must also appoint a BVI resident as registered agent.

Secrecy

There are no specific statutory provisions governing secrecy in relation to companies.

Restrictions on Trading

Cannot trade within the British Virgin Islands or own real estate there. Cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship, the rendering of investment advice or any other activity that would suggest an association with the banking or insurance industries. Cannot offer its shares for sale to the public.

Bearer Shares

Permitted, but considerable changes are introduced by International Business Companies (Amendment) Act 2003: Bearer shares of new incorporated companies must be placed in the safekeeping of an Authorized or Recognized Custodian. Existing companies with bearer shares are required to deposit bearer shares with a Custodian or exchange bearer shares for registered shares and make amendments in the Memorandum and Articles of Association prohibiting of issuance of bearer shares by December 31, 2004. Government fee for companies with bearer shares US$1,200. In case of transfer of bearer shares an Authorized Custodian may deliver bearer share certificates to another Authorized or Recognized Custodian only. Coddan provides incorporation of BVI companies with authorized shares only. It allows protect our clients from any future inconveniences and costs increased.
More information about how to register a company in BVI: click here to to register an offshore company in BVI 

Documents Download »
BVI Banks And Trust Companies Act, 1990 (112Kb RTF file)
BVI Companies Act (as amended) (511Kb RTF file)
BVI Company Management Act, 1990 (88Kb RTF file
BVI International Business Companies Act, 1984 (298Kb RTF file)
BVI Mutual Funds Act, 1996 (100Kb RTF file
The Partnership Act, 1996 (201Kb RTF file
Income Tax Act (220Kb RTF file)
Trustee Ordinance (210Kb RTF file)

Live Help

You can chat with one of our advisors right now. Just click on the image to the left to start chatting. Live Help is a real time chat feature which enables you to interact with our customer service representative without a phone call. Get answers to your questions while using our web-site. Clicking the "Live Help" button will start an online session with one of our representatives. Live Help is currently available during normal business hours. Outside of the indicated below opening hours, our Live Help centre will be closed, when you click on the chat button, you will see an e-mail form that allows you to send us an e-mail request with your questions. Our Live Help is free, there are no hidden fees.

Our hours of operation are posted on the contact page at all times. Telephone and Live Chat assistance is only available during business hours.

Opening Hours:

Monday - Friday: 9:30 a.m. to 18:00 p.m.
Saturday: offices are closed
Sunday: offices are closed
Holidays: offices are closed on all recognised UK holidays.

Dear customers, ladies and gentlemen, while having a chat session with our visitors, we are frequently requested to give an advice on tax planning or business structuring, and we would like to inform you that it is against our principles to provide an online free advice pertaining to these issues.

The points and tips that can be covered during a chat session include: our packages, services description and charges, legal requirements to start-up a business offshore, bank account arrangements, trademark registration, post incorporation services, notaries, consulate or apostille legalisation and other authentication services, documentation preparation and filing, mail forwarding overseas, telephone, fax and virtual office facilities, bookkeeping and accounting services, offshore incorporation service, ways to place an order, methods of payment etc.

If you wish us to provide you an advice or recommendations on tax savings and tax minimisation, or corporate business structuring methods, you should be aware that this service has chargeable elements.

Money and Payment Policy

Coddan accepts all major currencies; we accept Visa, Visa Electron, Visa Purchasing, JCB, MasterCard, Maestro, Solo, and Delta, we also accept cheques (may be held 10 days to clear), postal orders or cash deposit, and bank transfers from anywhere to our UK and USA bank accounts. After you place an order, details about the banking transfer will be e-mailed to you on the second e-mail notification. If you missed that e-mail, please call our phone number that is given on the order confirmation. The customer is responsible for the reimbursement of any bank wire transfer payments.

Our credit card payment processing is by WorldPay - an important part of The Royal Bank of Scotland Group, the 5th biggest banking group in the world. We do not charge surcharges for the debit and credit card transactions. Credit or debit card payment is now authorised online in real time. You will be informed immediately if your credit or debit card is declined. If declined, you may check the accuracy of the card number and expiration date, or choose a different card to try.

We need to receive a payment before we can proceed with a new company formation. For regular or corporate clients, we can open a professional credit account. However, this benefit cannot be provided to a new customer, who never placed orders with us.

If you do not feel comfortable transmitting your credit card details on the Internet, we suggest you place an order online, choose the option "Credit Card via the Phone" as the payment method, and then phone in to give us your credit card number over the phone. We will charge your credit card manually. We can also accept credit or debit card payments by fax, to do so, we will e-mail you a credit or debit card authorisation form, and you will need to print out the form, complete the details by hand and send it to us by fax to: + 44 (0) 207.681.3318.