BVI Company Registration – Q&A

Question: What is Evershine service coverage in BVI Company Registration?

Company registration

Open banking account

Question: What types of companies can you incorporate in BVI?

1) Company Limited by Shares: Most popular form of BVI Company.

2) Company Limited by Guarantee without Share Capital: Mainly used by non-profit organizations.

3) Company Limited by Guarantee with Share Capital: A type of hybrid Company that provides greater flexibility in structuring transactions.

4) Unlimited Liability Company without Share Capital: Used to ensure effective estate planning.

5) Unlimited Liability Company with Share Capital: Structure provides greater transparency as it is possible to look through the company to its shareholders.

6) Restricted Purposes Company

7) Segregated Portfolio Company

 

Question: Who does the BVI Company require? Shareholders, directors/local representative?

The company needs at least one director (corporate and individual directors are permitted), a local representative, a registered office in jurisdiction and an auditor.

There are no residency requirements, and corporate directors are permitted. The local representative will be a registered agent.

The auditor required is only for a mutual fund segregated portfolio company, and special regulated entities (e.g. investment business licensees pursuant to the Securities and Investment Business Act 2010).

 

Question: What is minimum share capital of a BVI Company?

None required.

 

Question: Are shelf Companies available?

Yes.

Question: Are bearer shares permitted?

Yes, must be held by an approved custodian.

 

Question: What is the taxation for a BVI Company?

Companies, shares, securities, capital gains, dividends, interest and payments not subject to any form of taxation in BVI. There is no estate, inheritance, succession and gift tax in BVI.

Instruments exempt from stamp duty except in relation to land in BVI.

 

Question: What other benefits are there for a BVI Company?

No consent is required to transfer the ownership.

There are no statutory pre-emption rights on the transfer of shares- this will be a matter for the articles of the Company.

Annual returns are only required for unlimited company not authorized to issue shares and foreign companies.

There are no statutory requirements for annual shareholder meetings and annual board meetings.

 

Question: What is the incorporation cost for a BVI Company?

Approximately US$1,350 (based on a company limited by shares authorized to issue no more than 50,000 shares).

This includes incorporation fees paid to authorities of US$350 (for company authorized to issue no more than 50,000 shares).

This does not include the fee for the provision of registered agent and registered office.

*These costs represent the minimum cost associated with the formation of a company based on a simple corporate ownership structure.

*Our fees could increase depending on a number of factors such as the urgency of the matter, the complexity of the ownership structure and the size of the deal.

 

Question: How much is the annual government fee?

Based on Type of company (Fee US$)

Company authorized to issue no more than 50,000 shares-$350

Company authorized to issue more than 50,000 shares-$1,100

Restricted purposes company-$5,000

Additional fees of US$250-$750 for companies with bearer shares.

 

Question: What is service charge and out-of-pocket expenses?
Final fee schedule will be up to signed Engagement Letter.

 

Question: How we serve you? What are the processes?
The procedures to register an WFOE (Wholly Foreign Owned Entity) as below:
Require → Consult → Engage → Register

In the consulting period, as company structure is usually relevant to international tax planning issues we always let Taipei Headquarter staff to join in consulting work until signing up Engagement Letter.

Engagement Letter offered by us will include all the detailing procedures, required documents , service fee and out-of pocket expenses etc., Before we can prepare Engagement Letter we need you to answer following questions,

1) What are your business categories?  Is it Services, Consulting, Trading or Manufacturing?

2) What are your business items? We will judge if it is a special-permit industry.

3) What is your business model? Where is your revenue from? Please give us your website.

4) How are your shareholders composed? Where is your parent company established? Are the shareholders companies or individuals?

5) Do you have your own registered address already? If not, how long are you going to need to locate your own address? Do we need to arrange a virtual registered office for you in the initial period?

6) What are your company phone number and your personal phone number? We will discuss with you orally if necessary

After signing Engagement letter, our staff will execute registering procedures

 

Question: After getting the company license, what kinds of services Evershine can provide?
After completing your  company registration you do not need to recruit or hire your own accountant or payroll handling personnel.

If you adopt our 4-in-1 service, Evershine colleagues in Taipei can act as your in-house accountant but will not need to be located in your office.

If you want to have more detailed information, please don’t hesitate to contact us.

For you information:

Evershine has its 100% owned office to provide you services in below cities:
Taipei, Beijing, Shanghai, and Xiamen

We have been providing our services with our so-serving partners in below cities:
Kaohsiung Taiwan, Singapore, Hong Kong, Tokyo Japan, Hangzhou China,
Nanjing China, Guangzhou China, Kuala Lumpur Malaysia

As for other cities where we can arrange co-serving partners,
please click below two linking to  find it out.
IAPA Find out Member Firm of IAPA
and LEA Find out Member Firm of LEA
These are  associate members of Evershine in the world
we have about 9+00 firms with employee number 38,000 in about 450 cities.
Once your firms are located in the above cities, we can serve you.

Please contact us by HQ4szx@evershinecpa.com