When should arrange for the annual renewal of BVI company after it is incorporated?

BVI company incorporated in or before June should be renewed before 31 May each year to ensure its legal status and recognition.Whereas BVI company incorporated in July to December can be renewed before 30/ Nov each yearRead more: British Virgin Islands offshore company formation What happens if I don't pay the annual renewal fees?

Is there any other compliance rule for BVI company?

Basically, except for the annual renewal of the BVI company, the company is not required to submit any other form of annual return or financial statements to the BVI government, thus, this has greatly increase the simplicity of managing a BVI company.

Does the company have to file accounts or a financial statement?

There is no requirement to file accounts or a financial statement

Is the company taxed on profit?

A BVI company is exempted from all local taxes

Does the company have to maintain books and records in the BVI?

The company does not have to keep records in the BVI. If the company chooses to keep records they can be kept anywhere in the World.

What are the advantages of BVI Commercial Registry?

The British Virgin Islands (BVI) is one of the largest international financial jurisdictions and the oldest tax havens in the world. According to Transparency International, BVI hosted 430,000 offshore companies in 2016.

The main advantages of BVI commercial registry :

Total absence or minimum paid of taxation
No public the personal information on the public file
Easy for management - the meetings can be held anywhere.
No audits, tax reports, and financial information.

BVI commercial registry will have more opportunities in doing business. That is why almost foreign companies chose to open a company in BVI. Offshore destinations are not only offered tax advantages but they also frequently have fewer reporting requirements than other countries.

One IBC can support you with all services in BVI commercial registry.

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What are the advantages of BVI Commercial Registry?

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