Coverdale Trust Services Limited provides incorporation and administration services for BVI Business Companies BBCs) incorporated under the BVI Business Companies Act as amended 2004 ("BBC Act").
BVI Business Companies (hereinafter referred to as BBCs) are exempt from all forms of taxation in the BVI and also have a number of other advantages including:
- Limited information only is held on public record. This does not include details of directors and shareholders. Such details are required to be kept in registers at the registered office of the company.
- BBCs may issue registered shares or bearer shares (although these must be held by an Authorised or Recognized Custodian).
- The BBC Act introduced additional types of company including those limited by guarantee, with the option to issue or not issue shares. Thus there is now no minimum issued capital.
- A BVI Business Company may have only one director and one shareholder and the same individual or corporate body may be both. They are no residency requirements for directors or shareholders
- Annual government fees are US$350 per annum (or companies that can issue a maximum of 50,000 shares For companies that can issue more than 50,000 shares, the annual Government fee is $1,100. The sole statutory residence requirement is the appointment of a local trust company as a Registered Office and Registered Agent.
Our team provides the following services:
- Approval of required names available via direct access to the Registry of Corporate Affairs.
- Incorporation documents dispatched to the Registry of Corporate Affairs immediately upon receipt, subject to satisfactory completion of all due diligence requirements. Documents are dispatched by courier directly upon receipt from the Registry. A copy of the Certificate of Incorporation and the Memorandum of Association are then sent by email as a PDF document.
- Provision of Shelf Companies for immediate purchase.
- Provision of Registered Office and Registered Agent.
- Maintaining confidential Registers of Charges, Directors and Shareholders.
- Filing of all statutory documents and fees at the Registry of Corporate Affairs.
- Provision of Corporate Directors through our licensed subsidiary
- Provision of nominee shareholders through our licensed subsidiary, assisting with solvent voluntary liquidations. It is our recommendation that where a company has served its purpose and is no longer required, it be formally wound up, and not allowed to be struck off. Companies that have been struck off can be reactivated, without necessarily the knowledge of either the members or directors.
Where Coverdale is requested to act as Director of a company, we will require control of all liquid assets of the company, including any bank and investment accounts. We will only agree to issue a limited Power of Attorney. The due diligence requirements where we are to be directors will be more extensive.