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Requirements for Incorporation in the U.S. Virgin Islands. Corporations in the U.S. Virgin Islands are formed by three incorporators who are responsible for electing the company's directors. There is a minimum requirement of one director for every shareholder of the corporation if there are three or fewer shareholders.
Doing business in the BVI brings significant tax benefits. The BVI is also a tax neutral territory. There is no income tax, corporate tax, capital gains tax, wealth tax, or similar fiscal laws.
Incorporate and open a bank account in BVI Step 1:Select company name and types. Every company in the BVI is required to be registered under an accepted name and as an entity type recognized by the law. ... Step 2:Submit application. ... Step 3:Apply for business license. ... Step 4:Open a bank account. ... Step 5:Stay compliant.
Procedure for Company Registration in BVI Choose and Reserve the Company's Trade Name. Appoint a Registered Agent for the Company. Open a Corporate Bank Account for the Company. Submit the relevant documents for process completion. Apply for required licenses to commence Business Operations.
To start a business in the U.S. Virgin Islands you will need to obtain a business license from the Department of Licensing and Consumer Affairs (DLCA). DLCA will complete the "One Step" review process with the following government agencies: Police Department. VI Bureau of Internal Revenue (tax clearance)
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.
BVI Companies fail on the three main cornerstones of your offshore strategy. They fail on asset protection, they fail on tax avoidance for most people and they fail on protecting your privacy. There are much better options available. You should exercise extreme caution if somebody is trying to sell you a BVI company.
The organization of the Government of the Virgin Islands rests upon the Revised Organic Act of 1954 in which the United States Congress declared the U.S. Virgin Islands to be an unincorporated territory of the United States.