British Virgin Islands Business Companies
BVI Business Companies are corporations formed under the BVI Business Companies Act. In many places in the world “BVI” is synonymous with “corporation”. BVI’s business companies are used for a variety of reasons, including holding operating companies, holding real estate, and carrying on an active business.
BVI has long set the standard for internationally used corporations. Its corporate laws are advanced. It has a strong infrastructure of attorneys, accountants, registered agents, and other service providers to serve the international community. Advisors around the world are familiar with BVI corporations and corporate law, which enhances its usefulness. Have a look at the many features of the BVI Business Company that makes it so popular.
Perfect for doing business on the internet!
Regardless of where you live, BVI Business Companies are ideal for doing business on the web or anywhere else:
- Directors do not have to be residents in the BVI
- Shareholders and directors can meet anywhere in the world
- Shareholders and directors can meet by electronic means as long as they can all hear each other
- BVI does not impose an income tax, capital gains tax, or withholding tax on BVI Business Companies
- BVI does not impose estate tax on the shareholders of BVI Business Companies
- Depending on the laws of the shareholder’s tax jurisdiction and proper structuring, BVI companies can earn and accumulate income and capital gains tax free
Ideal for holding real estate located outside your home country too!
Holding real estate outside your home country directly may trigger estate taxes on your death. Using a local company to hold the property may not solve the problem because many jurisdictions will treat local companies as being subject to estate tax as well. However, companies formed outside the country in which the real estate is located are generally not subject to local estate tax.
People around the world have used BVI Business Companies to buy and hold their vacation condo, ski chalet or investment property.
Using a local company to hold property may not solve the problem because many jurisdictions will treat shares in local companies as being subject to estate tax as well.
There are four steps to forming a BVI Business Company with Coverdale
