Registering a Crypto Business in BVI: A Complete Guide
Executive Summary The British Virgin Islands (BVI) is a leading offshore jurisdiction for cryptocurrency…
BVI Company Formation
Register a company in the British Virgin Islands in 2-3 days with tax advantages, strong privacy laws, and dedicated support for easy setup.
Benefits
Offshore Company Registration In BVI
Quick and straightforward incorporation process.
Simple annual maintenance requirements.
Modern corporate legislation offering a flexible structure.
Complete tax exemption for income earned outside of BVI.
No public records of company directors and shareholders.
No accounting or auditing requirements.
USD as the official currency.
One of the most sought-after offshore financial centers.
BVI Company Formation Packages
Basic
US$1200Annual Renewal USD 1100
- • Unlimited Name Availability Check: Ensure your chosen company name is unique and available.
- • Document Preparation and Filing: All necessary documentation is prepared and submitted on your behalf.
- • Expedited Incorporation Process: Company incorporation completed efficiently.
- • One Year of Secretarial Services: Comprehensive company secretarial support for one year.
- • One Year Registered Agent and Address: Provision of a local registered agent and address for one year.
- • All Government Fees Included for One Year: Covers all government-related fees for the first year.
- • Digital Corporate Documents: Receive all essential corporate documents in digital format.
This package provides all the necessary services for a foreigner to establish a new BVI Business Company (BC) from start to finish.
Standard
US$1600Annual Renewal USD 1100
- • Everything in the Basic Package: Includes comprehensive services for setting up a BVI Business Company (BC).
- • Bank Account Opening: Assistance with opening a bank account.
- • One-Time Application Fee: Covers the application fee for one bank account.
- • Bank Account Introduction: Introduction service to any bank on the supported list.
- • Certificate of Incumbency: Provided if required.
Premium
US$1700Annual Renewal USD 1100
- • Everything in the Standard Package: Includes all the comprehensive services provided in the standard package.
- • Premium Banking Support: Enhanced support for bank account services.
- • One-Time Application Fee: Covers the application fee for up to 5 banks or until the account is successfully opened, whichever comes first.
- • Consulting on Alternatives: Expert advice on suitable alternatives if the initial application is not approved.
- • Remote Bank Account Opening: Facilitates opening a bank account remotely.
- • Fast Response: Prompt assistance available even on weekends.
- • Frequent Updates: Regular updates on the bank account opening process to keep you informed.
Offshore Company Incorporation Process
KYC Documents Checklist
KYC documents are essential to verify the identity of individuals and corporations in BVI. Below, you’ll find a list of the required documents.
The following proofs are required for all company members including Directors, Shareholders, Ultimate Beneficial Owners (UBOs), and Contact persons.
- A certified true copy (scanned version) of the passport (valid for at least 6 months)
- A certified true copy (scanned version) of driver's license or national ID
- Bank reference letter & professional reference letter (minimum 3-year relationship), must be dated within the last 6 months and include the contact details of the issuer
- A Curriculum Vitae (C.V.), resumé, or LinkedIn profile
To establish the identity of a corporation or entity, it is necessary to provide company documents and proof of identity for its members.
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Frequently Asked Questions
How do I register an offshore company in the British Virgin Islands (BVI)?
To register an offshore company in the British Virgin Islands (BVI), you must choose a unique company name, appoint at least one director and one shareholder, and submit the required incorporation documents to the BVI Financial Services Commission (FSC). The incorporation process typically takes one to three business days. All BVI Business Companies (BCs) must have a registered agent and a registered office within the jurisdiction, as required by the BVI Business Companies Act.
What are the benefits of registering an offshore company in the BVI?
BVI is one of the most reputable offshore jurisdictions, offering complete tax exemption for offshore companies, strong confidentiality laws, and flexible corporate structuring. BVI Business Companies benefit from no foreign exchange controls, no minimum capital requirements, and no mandatory financial reporting obligations. The jurisdiction is widely used for international trade, asset protection, investment holding, and wealth management, with a robust legal system based on English common law. The BVI Financial Services Commission oversees the regulatory framework for offshore companies.
What types of offshore companies can be formed in the BVI?
The most common structure is the BVI Business Company (BC), which is highly flexible and can be used for international trade, investment holding, asset protection, and financial management. The BVI also offers Limited Partnerships (LPs) and Segregated Portfolio Companies (SPCs) for specialized financial and investment activities. Offshore companies in the BVI are regulated under the BVI Business Companies Act.
What documents are required to register an offshore company in the BVI?
To incorporate a BVI Business Company, you must provide a passport copy for each director and shareholder, proof of address such as a utility bill or bank statement, the company name and business structure details, and the Memorandum and Articles of Association. A licensed registered agent must handle the incorporation, as required by the BVI Financial Services Commission.
Do BVI offshore companies have to pay taxes?
BVI Business Companies are fully exempt from corporate tax, income tax, capital gains tax, and withholding tax. This tax-free status is protected under the BVI Business Companies Act.
However, business owners must comply with tax laws in their home country. Are bearer shares permitted in the BVI?
No, bearer shares are not permitted. All shares must be registered in the name of the shareholder to comply with global anti-money laundering (AML) and financial transparency regulations under the BVI Financial Services Commission.
What is the renewal process for an offshore company in the BVI?
BVI offshore companies must renew their registration annually by paying a government renewal fee and maintaining a registered agent and office in the jurisdiction. The renewal process is monitored by the BVI Financial Services Commission.
Does the BVI impose taxes on offshore companies?
No, BVI Business Companies are exempt from corporate tax, income tax, capital gains tax, and inheritance tax. This tax-neutral status is a key advantage of incorporating in the BVI. The country operates under a territorial tax system, meaning that only businesses operating within the jurisdiction are subject to taxation. The BVI International Tax Authority oversees tax compliance.
Are there foreign currency restrictions in the BVI?
No, there are no foreign currency restrictions in the BVI. Offshore companies can conduct transactions in any currency without limitations. The US dollar is the official currency, ensuring stability and ease of international business transactions. The financial system is regulated by the BVI Financial Services Commission.
What are the annual compliance requirements for a BVI Business Company?
BVI Business Companies must maintain a registered agent and office in the BVI, renew their registration annually, and keep internal financial records. They are not required to file annual
financial statements or undergo audits unless engaging in regulated activities such as banking, insurance, or investment fund management. Compliance requirements are set by the BVI Business Companies Act.
Is there a requirement to file annual financial statements?
No, BVI offshore companies are not required to file annual financial statements or tax returns. However, they must maintain internal accounting records for potential regulatory review, particularly if they engage in financial services. The regulatory framework is overseen by the BVI Financial Services Commission.
Is it possible to open an offshore bank account for a BVI Business Company?
Yes, a BVI Business Company can open offshore bank accounts in major financial centers, including Switzerland, Singapore, Hong Kong, and the Caribbean. BVI is a well-regarded jurisdiction in the global financial sector, and many international banks accept BVI-registered entities. Banking institutions are regulated by the BVI Financial Services Commission.
What documents are required to open a bank account for a BVI offshore company?
Most banks require a Certificate of Incorporation, Memorandum and Articles of Association, a resolution appointing authorized signatories, passport copies of directors and shareholders, proof of address, and a business plan or nature of business statement. Banks also require compliance documents such as Know Your Customer (KYC) and anti-money laundering (AML) records, in accordance with regulations set by the BVI Financial Services Commission.
Can a BVI Business Company open a bank account remotely?
Yes, many offshore banks allow BVI Business Companies to open accounts remotely without requiring a physical visit. The process varies by bank but generally includes submitting notarized or apostilled documents, video verification, or an introduction from a corporate service provider. Some banks may also require a reference letter from an existing financial institution.
Offshore banking regulations are overseen by the BVI Financial Services Commission.
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