Virgin Islands Liquidation Proposal
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FAQ
BVI imposes no corporate, capital gains, or income taxes on offshore companies. This can result in significant tax savings for businesses, especially for those engaged in international trade and investment. 2. Confidentiality: BVI offers a high level of confidentiality and privacy for company owners.
Voluntary strike-off, also known as dissolution, places the responsibility for closing down the company firmly with yourself and other directors. Voluntary liquidation, on the other hand, is an official process undertaken by a licensed insolvency practitioner (IP).
For companies incorporated under the BVI Business Companies Act the relevant solvency test is that: the value of the company's assets exceed its liabilities; and. the company is able to pay its debts as they fall due.
An overseas practitioner who is not BVI-licensed may be jointly appointed with a BVI-licensed insolvency practitioner. The liquidator has wide ranging powers including the power to sell the company's property and to borrow money and grant security over assets.
Closing a BVI Company ? BVI Company Dissolution BVI Company Dissolution feesBVI Registry discontinue feeUS$250BVI Agent and Liquidator£2000Economic Substance filing: (mandatory)£450Disbursements to make the filings on VIRRGIN and publish statutory adverts in the BVIUS$4703 more rows
For BVI company authorized to issue no more than 50,000 shares, the incorporation fee is US$550. For BVI company BCs authorized to issue more than 50,000 shares, the incorporation fee is US$1,350. The fee for registered agent are typically around US$500 to US$1,000 per year.
The annual administration fees for this package, starting from the second year: $1500. This includes the $550 BVI government annual license fee, economic substance fee, mandatory registered agent service and compliance fee for KYC review and update. (!) The bank account is not included in this package.
Closing a BVI Company ? BVI Company Dissolution appointing liquidator. providing all liquidation documents. making statutory filings. publishing statutory adverts. obtaining the certificate of dissolution.
