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British Virgin Islands

Protected by UK law

The legal system is based on English common law, supplemented by local ordinances

Key points:


Confidential & Private
Assets and identity information of the beneficial owners and shareholders stays confidential at the office of the Registered Agent and protected against to request by 3rd parties (including foreign governments, banks, etc.)

No visit required, incorporate in 3-5 day
We take care of all the complicated paperwork, administration and setup

Tax exemption

A BVI Business Company is exempt from the BVI income tax

BVI COMPANY INCORPORATION

 

The British Virgin Islands ("BVI") is a British Overseas Territory and became autonomous in 1967. In 1984, An International Business Company legislation ("IBC Act") was enacted in BVI which enhanced the Islands’ popularity for offshore company formation. Effective 1 January 2005, the IBC Act was replaced by the Business Companies Act ("BC Act") which brings the legislation in line with the modern world. Since its enactment, BVI registered companies are now accepted to be listed on leading Stock Exchange worldwide, including the Hong Kong Stock Exchange.

The BVI has established a solid international presence and enjoys a reputation for cutting-edge, progressive and user-friendly legislation with quality services.

 

Strict confidentiality & privacy
Assets and identity information of the beneficial owners and shareholders stays confidential at the office of the Registered Agent and protected against to request by 3rd parties (including foreign governments, banks, etc.)
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Protect your company right and assets

BVI Companies disregards the seizure by 3rd parties and continues to treat the person from whom the shares were seized as continuing to hold the shares whatsoever.

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Tax exemption

A BVI Business Company is exempt from the BVI income tax
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Incorporation in 3-5 days, all online & remotely
The process is 100% digital and online. Your e-documents can be provided very quickly via our reliable system.

 

When incorporating your company:
See key points of BVI company

See required documents


Low requirement in company structure

No company secretary required

A BVI Business Company requires a minimum of only one owner, one shareholder, and one director. All of them can be one and the same person. Apart from the director, the company need not appoint any operating officers including company secretary.

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No Accounting & Auditing required

BVI Business Companies do not have an obligation to prepare or file financial accounts. There is no requirement whatsoever to file or otherwise make public any commercial or financial information of the Company.
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Various types of company

BVI provides wide range of company type based on your business model/need

See & compare BVI company types.

&

Contact us to find out the best company type for your business model/structure


No foreign exchange controls

BVI companies are designed for use in international transactions, therefore there are no foreign exchange controls or regulation under BVI law.

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Incorporation Plans

Starter Package

For new business owners

USD 1,390
 

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Premium Package

For SME & larger scale organizations seeking for Company + Traditional Bank Account

USD 1,950
 

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Alternative Company Locations

Hong Kong

  • European Account

  • Offshore Account

Seychelles

Free of Charge

Multicurrency Business Account

Features

  • IBAN, Swift

  • No sending/receiving limit

  • Card facility

  • Easier KYC

Tokyo

Ready to get started?

Explore Lion Business Co. services and kick off & develop your business, Our dedicated team is ready.

INCORPORATION FLOW

1- Name Check

Check your company name for free

We will get back to you as soon as possible.

2- Pick Your Plan

All in company formation service. No hidden fee.
Complete payment for the plan that works best for you
 
Standard Package comes with company incorporation + Hong Kong Multi currency virtual bank account opening assistance
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*Please let us know if you need bank account for your Hong Kong company
 
Recommended for:
Startups & SMEs
 
Premium Package comes with assessment for traditional/conventional bank account opening assessment.
 
Recommended for
SMEs & Large-scale organizations

Start business in BVI

Your Hong Kong business is ready to start in 1 day.

Frequently Asked Questions

Q&A

1. What are the advantages of BVI Commercial Registry?


The British Virgin Islands (BVI) is one of the largest international financial jurisdictions and the oldest tax havens in the world. According to Transparency International, BVI hosted 430,000 offshore companies in 2016.
The main advantage/benefits of BVI commercial registry : Total absence or minimum paid of taxation No public the personal information on the public file Easy for management - the meetings can be held anywhere. No audits, tax reports, and financial information. An offshore commercial company in BVI will have more opportunities in doing business. That is why almost foreign companies chose to open a company in BVI. Offshore destinations are not only offered tax advantages but they also frequently have fewer reporting requirements than other countries. Lion Business Co. can support you with all services in opening the company in BVI.




2. Is there any other compliance rule for BVI companies?


Basically, except for the annual renewal of the BVI company, the company is not required to submit any other form of annual return or financial statements to the BVI government, thus, this has greatly increased the simplicity of managing a BVI company.




3. Is the company taxed on profit?


A BVI company is exempted from all local taxes




4. Does the company have to maintain books and records in the BVI?


The company does not have to keep records in the BVI. If the company chooses to keep records they can be kept anywhere in the World.




5. British Virgin Islands (BVI) Offshore Company Formation - How to set up BVI company?


British Virgin Islands (BVI) Business Company (BC) has totally exemption on taxes, according to the BVI Business Companies Act, 2004. No filing of accounts or submitting annual returns is required after the offshore has been incorporated. BVI is not a party in any double taxation treaty, which provides enhanced protection against fiscal inquiries. The law protects the confidentiality of the Shareholder, Director and the offshore company. 1- BVI Offshore company 설립, initially Our Relationship Managers team will ask You have to provide the detailed information of the Shareholder/Director's names and information. You can select level of services you need, normal with 3 working days or 2 working days in urgent case. Furthermore, give the proposal company names so that we can check the eligibility of company name in the Registrar of Corporate Affairs system of BVI. 2 - You settle the payment for Our Service fee and official BVI Government Fee required. We accept payment by Credit/Debit Card , Paypal or Wire Transfer to our HSBC bank account (Payment Guidelines). 3- fter collecting full information from you, Offshore Company Corp will send you a digital version (Certificate of Incorporation in BVI, Register of Shareholder/Directors, Share Certificate, Memorandum of Association and Articles etc.) via email. Full BVI Offshore Company kit will courier to your resident address by express (TNT, DHL or UPS etc.). You can open BVI bank account for your company in European, Hong Kong, Singapore or other jurisdictions supported offshore bank accounts! You are freedom international money transfer under your offshore company. Your BVI Offshore Company formation completed, ready to do international business!




6. Why is the BVI popular among Asian clients?


Because the BVI has worked with Asian businesses for over 25 years, Asian clients have come to know, depend on and trust the BVI to handle their wealth and international business needs. The BVI offers Asian and Chinese investors a common law jurisdiction, a modern commercial court, modern corporate law, and a platform to access international capital markets. Additionally, BVI companies are chosen for their minimal regulatory interference and high level of corporate flexibility, such as for mergers and acquisitions and cross-border transactions.




7. How are BVI companies used in Asia?


Over the past 25 years, the BVI has become a tried and tested conduit for overseas capital entering Asia, offering tax efficiency, legal certainty, and general ease of doing business. Investors benefit from British-based law, a wide pool of professional service providers, local creditor friendly legislation, and an effective judicial system of registering charges. Example: Using BVI Companies Offshore 2020 Report (2014) “A group of international investors identifies a Chinese infrastructure developer that needs capital for a series of projects. They set up an international business company in the BVI as a holding structure and deposit the money, supplementing it with bank loans. The funds are then routed to the Chinese developer and the projects get up and running. Profit travels back to the BVI structure in the form of dividend payments that are distributed among the investors.”





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8. When should arrange for the annual renewal of a BVI company after it is incorporated?


BVI company incorporated in or before June should be renewed before 31 May each year to ensure its legal status and recognition. Whereas BVI company incorporated in July to December can be renewed before 30/ Nov each year




9. Does the company have to file accounts or a financial statement?


There is no requirement to file accounts or a financial statement




10. Does the BVI Company need a Registered Office and Registered Agent?


A company shall, at all times, have a registered office and agent in the Virgin Islands.




11. What are BVI FSC’S roles?


The BVI Financial Services Commission is an autonomous regulatory authority responsible for the regulation, supervision and inspection of all the British Virgin Islands financial services including insurance, banking, trustee business, company management, mutual funds business, the registration of companies, limited partnerships and intellectual property




12. Do I need to comply with all regulations of FSC when opening a BVI company?


Yes, BVI company formation needs to be under all regulations of FSC and BVI Laws. Registered agent will guide you in the first stage and update when there are any changes from these regulations




13. What is the penalty fee If I fail to pay the renewal fee in due course?


BVI Companies incorporated between January 1st to June 30th- Fund must be credited to our account for payment to the Registry before 31/ May deadline to avoid penalties below

  • June 1st- July 31st-10% Penalty
  • August 1st – October 31st – 50% Penalty
  • November 1st- STRUCK OFF/ 50% Penalty + Restoration fee $825 (Standard capital)
  • February 1st – RESTORATION FEE USD 1125 (standard capital)
BVI Companies incorporated between July 1st to December 31st Fund must be credited to our account for payment to the Registry before October 30th deadline to avoid penalties below
  • December 1st – January 31st – 10% penalty
  • February 1st- April 30th – 50% penalty
  • May 1st- STRUCK OFF/50% penalty + RESTORATION FEE $825 (standard capital)
  • August 1st- RESTORATION FEE USD 1125 (Standard capital)
It is the responsibility of all clients to ensure that payments are made to us in a timely manner thus keeping the companies in good standing with the BVI Government




14. Can I open a bank account for my BVI company in Hong Kong & Singapore? Which top-tier bank can I register a corporate bank account for my BVI company?


Yes, you can open a bank account for your BVI company in Hong Kong & Singapore. For those who own foreign companies, the owner needs to submit required documents to the banks including Certificate of Incorporation, Certificate of Incumbency, Memorandum of Association and Articles of Association. The authorities can be required to submit further documentary proofs. All documents submitted must be in English. We can support you to register and open a bank account in Singapore for your BVI company through a number of reputable banks that we have partnered up with.

  • Lion Business Co. has associated and established a strong relationship with reputable local Hong Kong & Singapore banks including HSBC Bank, DBS Bank, UOB Bank, OCBC Bank, Standard Chartered, and Maybank.
Opening a bank account for your BVI company in Hong Kong & Singapore will help your business to manage transactions, as well as make any necessary payment, allow you easy access to new customers and business opportunities in Hong Kong & Singapore.




15. Could I open a Company in the British Virgin Islands (BVI) remotely?


Yes, you can form a company in the BVI and open the BVI company bank account from anywhere. BVI is known as the famous jurisdiction for offshore companies that will create business opportunities and enhance competitive advantages for companies. Therefore, many businessmen prefer to open and own a BVI company. No matter you are in Singapore, United States, Australia or elsewhere, we willing to help you open your BVI company through 3 simple steps:
Step 1: Preparation for your BVI company

  • Contact us to complete required information
Step 2: Choosing type and services for your BVI company Choose a suitable type of entity for your business purpose and the recommended services for your BVI company:
  • Bank account
  • Nominee services
  • Serviced office
  • IP & Trademark
  • Merchant account,
  • And Bookkeeping.
Step 3: Make your payment and own your favorite BVI Company




16. What information of a BVI Corporate Registry would be disclosed on?


If I have a BVI Corporate Registry, what information would be disclosed on the public record? Do I have to disclose the information of my BVI company’s Director and Shareholders as well? For all registered BVI companies, some of the information would be disclosed for the public via the BVI Registrar of Businesses and depending on the situation, the court may access other information through the customers’ BVI registered agent. The disclosed information generally includes the company’s registered office, registration number, company status, date of incorporation, and authorized capital. Furthermore, the public record of a BVI registered company also contains the following information: Company Incorporation Certificate: is one-page certificate issued by the BVI government confirms the client’s company is properly registered Certificate of Good Standing: This certificate is for companies that are up-to-date and companies require this certificate when they pay the annual registry fee, also known as Company Renewal fee. Information such as registration and current status of the company is shown on this certificate. Memorandum of Association and Articles of Association Information of the directors and shareholders which are in the Register of members is required to disclose not to the public but must be uploaded to the Beneficial Owner Secure System (BOSS) Portal, according to the amended BVI Business Companies Act in 2016. The reason for this is to assist the BVI government to manage and identify the directors and shareholders of all registered BVI companies. Only the BVI company’s registered agent and BVI authorities have access to this information.




17. Does a BVI company need to file a Register of Directors?


It is mandatory for a Register of Directors to be kept at the BVI registered office. There is no need to file the Register of Directors with the Registrar.




18. I live in the United Kingdom (UK) and have a question: How can I choose the name to set up a BVI Business Company?


Choosing a company name is the first step to setting up a company in BVI from the UK. The procedure to choose the name to set up a BVI company is simple but you need to take note some important following points:

  1. BVI companies must select a unique corporate name that is not similar to already existing corporation names.
  2. A company name must have one of the following suffixes: “Limited”, “Corporation”, “Incorporated”, “Société Anonyme”, or “Sociedad Anonima” or the abbreviations “Ltd.”, “Corp.”, “S.A.” or “Inc”
  3. The company name can be in Chinese (Mandarin - Mainland China language), as a result, the country is one of the most favorite countries for Chinese, Taiwanese, and Hong Konger investors.
  4. The company name cannot use a word in the name that connects with the patronage of Her Majesty, a member of the Royal Family, Her Majesty’s Government or with other local authority and body incorporated by Royal Charter
  5. The name for the special business which is required licenses, such as Insurance or Banking business. Therefore, some words cannot be used in the BVI in a company name: Fund, Mutual Funds, Assurance, Bank, Banker, Casino, Council, etc.
If you are struggling with choosing a name for setting up a BVI company from the UK. Our advisory team will help you to choose a suitable name that fits your business activity and check the eligibility of your new company name.




19. Can I open a bank account for my incorporated BVI company in the UK? Do I need to travel to BVI to open a bank account?


If you are living in the UK, BVI is not an ideal choice to register for a bank account unless you are physically living on the BVI. You need to travel to BVI and arrange a personal visit to the bank and a face-to-face meeting to comply with the strict Know Your Customer (KYC) requirement for opening a bank account in the BVI. Moreover, BVI has less than 10 banks that serve the entire territory which limits the option of choosing suitable banks for the customers. For that reason, we highly recommend that you should open an offshore account in other jurisdictions which allows you to open and maintain your account without a face-to-face meeting and more available options to choose for your incorporated BVI company Lion Business Co. has associated and established a strong relationship with reputable banks in other famous jurisdictions such as Singapore, Hong Kong, etc. We can select and support you to register and open a bank account for your BVI company from the UK without traveling to the bank.




20. What are the main advantages to register a company in BVI? How do I register a company in the BVI?


Although the British Virgin Islands (BVI) are The British Overseas Territories, BVI is a well-known offshore location and the procedure to register a company in BVI is easier than the UK. The main advantages to register a company in BVI:

  • Modern, flexible and commercially minded corporate legislation
  • The cost-effective and straight forward incorporation process
  • Offering a high level of privacy and confidentiality
  • Minimum ongoing compliance requirements
  • Exempted from income tax, capital gains tax, gift taxes, inheritance taxes and VAT
A registered BVI company is simple and does not need to fulfill too many requirements. Typically, the process including three steps:
  • Choose a corporation name and structure
  • Fill information on your application form and submit documents required
  • Open bank account for your BVI company
You are still considering which jurisdiction is the best choice to register your offshore company? Wherever you want to register your business: Seychelles, BVI, UK,... Lion Business Co. will help you to choose and support you to register an offshore company through an easy process and competitive price. Contact us right now!




21. How do I pay an annual renewal fee for my registered BVI Company? What will happen if I cannot pay the fee on time?


Renewing your BVI company is an important step to maintain your operation. Renewing your registered BVI company on time is necessary as it is not only to maintain your company’s Good Standing but also to make sure to comply with local regulations. According to BVI regulations, business owners need to pay annual Company Renewal fee starting from the second year to BVI Government and depend on the period of company incorporation date, the company renewal date due at 2 different renewal periods:

  • The fee is due before 31st May, for all companies incorporated between the 1st of January and 30th of June;
  • The fee is due before 30th November, for all companies incorporated between the 1st of July and 31st of December;
The owners cannot pay directly the annual renewal fee to the Government, the Government will only accept the fee through a Registered Agent according to the BVI Business Companies Act 2004. If you cannot pay the fee on time, your BVI company will lose its status of Good Standing and can be strike-off from the Registry for non-payment of fee. Striking-off a company means your BVI company is unable to continue trade or enter new commercial agreements, and its directors, shareholders, and managers are by law precluded from any operations or transactions with the assets of the company until the company is restored in Good Standing. Moreover, late penalties will be applied for non-payment of an annual renewal fee.
  • A 10% penalty fee is applied if the payment is up to 2 months late.
  • A 50% penalty fee is applied if the payment is over 2 months late.
Business owners can restore a company after it has been struck off, but owners need to pay substantial fees to the Government including all past-due renewal fees depending on the number of days overdue after strike-off and penalties fee. Therefore, paying in full and on time your renewal fee is essential for your registered BVI company. Paying renewal fees after the expiration date will cause many problems that can affect your operation.




22. What services does the BVI offer to the Asia market?


The BVI is the jurisdiction of choice for Asia, due to its innovative, cost effective and trusted structures and processes that have been utilised by Asian businesses for over 25 years. Its financial services offerings make the BVI the complete offshore finance solution, and consist of: Wealth Planning Solutions Trust & Estate Planning Capital Markets Solutions Funds & Investment Business Captive Insurance Ship Registration Aircraft Registration and Financing Commercial Court





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Client Testimonials

Tokyo

Got my business account ;). Thank your for your help, I’m really pleased on how easy and bullshit free it was thanks to you and your company. I have one query, the bank needed an HK mailing address and used the one you put on the form , is that ok? I asked them to minimize the mailing and opened an online service instead so everything can be accessed online.

Nick | TingTip Limited