This is one of our most popular packages with worldwide customers, and includes: -
The formation of a business company usually takes as little as two to five working days from the time that your application and payment are received by Coddan;
The registration your BVI offshore company from scratch using our registered agent & registered office address; and appoint your own candidates to the roles of director, and a shareholder;
The standard capital on formation is US$50,000 divided into 50,000 shares valued at no par value or US$1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for business company name availability, confirmation, and reservation;
The preparation and submission of the memorandum and articles of association of your company;
A local registered office address and a local registered agent for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
An original certificate of incorporation;
A hard bound copy of the memorandum and articles of association;
The minutes of the first meeting of the board of directors;
A completed register of directors and shareholders;
An elegant printed share certificates;
A pliers seal.
Premier Package
£ 910.00
Annual Maintenance Fee £805.00
This is another one very popular package with worldwide customers, and includes: -
The formation of a business company usually takes as little as two to five working days from the time that your application and payment are received by Coddan;
The incorporation your BVI offshore company from scratch using our registered agent & registered office address, and appoint your own candidate to the role of a shareholder;
The standard capital on formation is US$50,000 divided into 50,000 shares valued at no par value or US$1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for business company name availability, confirmation, and reservation;
The preparation and submission of the memorandum and articles of association;
A local registered office address and a local registered agent for 12 months are included in the price of this package (our registered agent & office address service are charged annually);
The provision of a nominee director for one year is also included in the price of this package (our nominee director service is charged annually);
To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
An original certificate of incorporation;
A hard bound copy of the memorandum and articles of association;
The minutes of the first meeting of the board of directors;
A completed register of directors and shareholders;
An elegant printed share certificates;
A pliers seal;
The general power of attorney signed by a nominee director (additional fee applies);
Pre-signed, undated resignation letter from a nominee director;
The agreement for the provision of a nominee service and indemnification of nominee.
Deluxe Package
£ 1,105
Annual Maintenance Fee £1,000
This is our most popular package with international customers, and includes: -
The formation of a business company usually takes as little as two to five working days from the time that your application and payment are received by Coddan;
The registration your BVI offshore company from scratch using our registered agent & registered office address, and appoint our own candidates to the role of a nominee director and a nominee shareholder;
The standard capital on formation is US$50,000 divided into 50,000 shares valued at no par value or US$1.00 each (it is not required to have all of the shares issued, but a minimum of one share must be issued);
The government and initiation fees for incorporation are included in the price of this package;
The search for business company name availability, confirmation, and reservation;
The preparation and submission of the memorandum and articles of association;
A local registered office address and a local registered agent for one year are included in the price of this package (our registered agent & office address service are charged annually);
The provision of a nominee director for 12 months is included in the price of this package (our nominee director service is charged annually);
The provision of a nominee shareholder for 12 months is also included in the price of this package (our nominee shareholder service is charged annually);
To receive an original of the certificate of incorporation from the Companies Registrar usually takes as little as two to three days from the time of incorporation.
The following hard bound copy of corporate documents, will be posted to you upon formation of your offshore company: -
An original certificate of incorporation;
A hard bound copy of the memorandum and articles of association;
The minutes of the first meeting of the board of directors;
A completed register of directors and shareholders;
An elegant printed share certificates;
A pliers seal;
Pre-signed, undated letters of resignation from a nominee director and a nominee shareholder;
A general power of attorney signed by a nominee director (additional fee applies);
A declaration of trust from a nominee shareholder;
An indemnity letter for the power of attorney;
A nominee agreement which provides for the indemnification of the nominees.
BVI Offshore Incorporation Legal Requirements
A business company in the British Virgin Islands can trade within the British Virgin Islands or own real estate in the jurisdiction of the BVI.
A business company is required to have a registered office address in the British Virgin Islands.
A company is required to have a registered agent in the British Virgin Islands.
At least one director must be appointed as a managing director of a business company.
There is no maximum number of directors.
A director can be of any nationality.
Director(s) can be corporate bodies (another company, trust or a partnership) or private individuals.
At minimum, one shareholder must be appointed.
Shareholder(s) can be corporate bodies (another company, trust or a partnership) or private individuals.
The same person can be appointed both as a shareholder and a director.
Company officers may be resident outside of the British Virgin Islands.
The names and addresses of directors and shareholders are not available on the public record.
There is no requirement for appointing a resident shareholder or director.
There is no requirement for a resident secretary, but it is advisable.
The minimum paid in and issued capital may be just one share which is fully paid.
Shares can be issued with or without par value.
Shares may be issued in any recognisable currency or in more than one recognizable currency.
A BVI registered business companies do not have an obligation to prepare of file financial accounts. However, records must be kept that are sufficient to show and explain the company\'s transactions; and will, at any time, enable the financial position of the company to be determined with reasonable accuracy.
A BVI business company is exempt from the BVI income tax, the same exemption applies to all dividends, interest, rents, royalties, compensations and other amounts paid by a company, and all capital gains realised with respect to any shares, debt obligations or other securities of the company.
Confidentiality is one of the key features of the BVI business company as details of the company beneficial owners, directors and shareholders are not part of public record. Register of shareholders, register of directors and all minutes and resolutions by the company are kept only at the offices of the registered agent in complete confidentiality.
BVI IBC FORMATION & OFFSHORE COMPANY INCORPORATION - GUIDE HOW-TO ESTABLISH & MAINTENANCE BUSINESS COMPANY IN BVI: INCORPORATE IN BRITISH VIRGIN ISLANDS
Offshore jurisdictions are often associated with large corporations and millionaires, but are in fact extremely well suited for small and medium businesses and individuals. An offshore company is formed in a foreign location and is therefore subject to the laws and regulations (or jurisdiction) of that location. The myth that offshore locations are completely unregulated and lawless is untrue; an offshore business is a normal business operating in a normal way; and is subject to many of the same types of laws and regulations as in any other location.
Coddan offers a comprehensive range of offshore company formation solutions and a wide range of offshore post-formation services designed to support the efficient running of your business.
The British Virgin Islands seem to have got as close to being a perfect private offshore international financial centre as can be imagined. For 25 years the Government has welcomed offshore business, and has created a world-standard regulatory structure to avoid money-laundering and other criminal activity. Like Bermuda, the BVI decided not to encourage the growth of offshore banking, but the BVI offshore business company must be the world's most successful offshore entity, and is used extensively in financial holding and investment structures, as well as in trust management. The BVI have also been successful in developing mutual funds and captives, although not being the leading jurisdiction in either case. Finally, the BVI have a strong position in yachting both as a registry and as an operating base.
An offshore business company incorporated in the British Virgin Islands is registered at the Registry of Companies, a division of the BVI Financial Services Commission. The Registry's files are publicly open to search, but the only information that is required to be filed with the Registry by a business company is its name, date of incorporation, a copy of it's memorandum & articles of association, and the name and address of its registered office and registered agent in the British Virgin Islands.
1. There is no minimum paid up capital requirement, and capital may be expressed in foreign currency. 2. A BVI business company may issue bearer shares and shares of no par value; but bearer shares must to be held in the custody of either an authorised or recognised custodian. 3. Subscribers may include an individual, a corporation or a Trust; an offshore company may have a nominee shareholder, who can be provided by Coddan. 4. There is a minimum of one director, who can be an individual or a corporation, a BVI offshore company may have a nominee director, who can be provided by us. 5. A secretary is not legally required (but can be useful). 6. Each BVI offshore company must maintain a registered agent and a local registered office address using licensed agents - these are the only details about an offshore business company that are available on the public file. 7. No meetings are required of directors or members. 8. Directors, secretary and shareholders can be of any nationality. 9. There are no exchange controls for a British Virgin Islands business companies. 10. Foreign companies may continue (re-domicile) as BVI business companies, and vice versa.
The most widely promoted advantage of forming an offshore entity is the minimisation of one’s tax burden. Although tax relief is an attractive advantage, there are many reasons why businesses and individuals choose to form an entity offshore:
Anonymity
There are often sound, legitimate business reasons for an individual wishing to retain a level of anonymity. By carrying out transactions in the name of a private offshore company, the personal details of individuals can be kept off public records. Unfortunately, the anonymity offered by offshore business structures has also attracted people wishing to conduct illegitimate business. It is for this reason that the offshore industry has become more regulated than it was in the past. These new regulations often require banks and other institutions to examine company structures more closely. These new regulations do not pose a problem for those individuals acting legitimately, and do not hinder public anonymity.
Taxation
Using an offshore company and an appropriate business structure, it is possible for a business to legally and significantly decrease its tax liability and thus increase its profits.
Simplicity
Except for a few heavily regulated industries (the banking and investment industries for example) many offshore jurisdictions make it relatively simple to set up and run a
Reporting
Although this varies depending on the jurisdiction, the amount of information required by the register of companies in an offshore jurisdiction is generally small. This reduces the amount of time and resources a company needs to invest in the administration of the company.
Asset Protection
Operating within an appropriate business structure, it is possible to organise assets and transactions in such a way that they are protected from future liability. Moving assets offshore can be a wise commercial decision. This is also an important option for individuals, who can protect their personal or retirement savings from litigation.
BVI Business Company (BVI BCO)
A business company is typically not permitted to engage in business within the jurisdiction in which it is incorporated. A business company can be used in a range of ways by a variety of business types to decrease tax burdens, provide anonymity to the beneficial owner, and provide asset protection. They are generally exempt from local corporate taxation and stamp duty provided that they do not conduct any local business.
A business company can issue shares in either registered or bearer form. Once they have acquired their shares, shareholders have no obligation to the company and may, subject to the rules of the company, sell or transfer their shares. The shareholders are entitled to a portion of company profits, and any proceeds from liquidation.
Uses of the BVI Offshore Industry
Businesses and individuals have a variety of motivations and requirements in relation to the offshore industry. What follows is a discussion of how some business types and individuals tend to use the offshore industry, and the befits that they enjoy. The business types considered in this section are as follows: -
A trading company is one whose core business involves the making or procuring of goods or services and the subsequent sale of the goods or services to customers.
If trading takes place internationally, then it is often possible to interpose an offshore company, which would allow a percentage of the profits to be realized in a low-tax jurisdiction.
Even if the trade takes place wholly in one high-tax jurisdiction, it may be possible to separate the selling on part of the process from the production and procuring part, and to conduct the selling part of the operation offshore. The newly established e-commerce infrastructure available in many international offshore centres adds to the attraction of this option.
The eventual value of having an offshore trading company will depend on the overall corporate structure, and on the particular country or countries in which the owner resides. To optimise results, it is generally better for the offshore company to not be a controlled subsidiary of the main company, and for the main shareholders to be non-residents of the country where the main company is based.
Examples
An EU automotive component company establishes an independent offshore company to purchase cheap Chinese parts and sell them on at a profit to the EU company, which then uses the parts in the manufacture of components.
A newsletter and magazine publisher in the UK keeps her editorial staff in the UK, but establishes a separate offshore sales and distribution company to handle the rest of the process, thus generating most of the profit offshore.
An international engineering personnel agency gives up its Paris office and moves completely to an offshore jurisdiction. Its own profits and those of its free-lance staff become untaxed (staff may choose to remain in a high-tax area).
The tax saved in such cases is income (corporation) tax; but in the case of products or services which can be delivered over the Internet, the possibility of avoiding VAT also opens up.
It is worth noting that some offshore centres actively target trading operations by offering duty-free zones, or warehousing facilities. Such facilities are often necessary if one wishes to avoid the creation of a permanent establishment in the destination country (e.g. for the storage of goods before delivery) which could compromise a company's offshore status.
Economy
Premier
Deluxe
Our BVI offshore companies are formed as general trading companies. Because of their widely drawn memorandum and articles of association, they are able to conduct most kinds of business. Starting from just £650.00, we offer a range of packages designed to suit the varying requirements of our customers. Our BVI formations typically take from between two and five days to effect, and include: our service charge, the government fee for incorporation, the first year's fees for a registered office address and registered agent are included in the price of this package. Upon formation of your BVI company, we will courier all of the company documents directly to you.
THE FOLLOWING UPGRADES CAN BE ADDED TO OUR ECONOMY PACKAGE:
1. Nominee director service for 12 months - £260.00. 2. Nominee secretary service for 12 months - £150.00. 3. Nominee shareholders service for 12 months - £195.00. 4. Opening a bank account from - £500.00. 5. Certificate of incumbency - £120.00. 6. Certificate of good standing - £100.00. 7. Certificate of tax exemption - £125.00. 8. A BVI domain name registration for two years - £120.00. 9. All documents notarised and apostilled - £125.00. 10. Corporate kit - £40.00.
Our BVI offshore companies are formed as general trading companies. Because of their widely drawn memorandum and articles of association, they are able to conduct most kinds of business. Starting from just £910.00, we offer a range of packages designed to suit the varying requirements of our customers. Our BVI formations typically take from between two and five days to effect, and include: our service charge, the government fee for incorporation, the first year's fees for a registered office address, registered agent and a nominee director are included in the price of this package. Upon formation of your BVI company, we will courier all of the company documents directly to you.
THE FOLLOWING UPGRADES CAN BE ADDED TO OUR PREMIER PACKAGE:
1. Nominee secretary service for 12 months - £150.00. 2. Nominee shareholders service for 12 months - £195.00. 3. Opening a bank account from - £500.00. 4. Certificate of incumbency - £120.00. 5. Certificate of good standing - £100.00. 6. Certificate of tax exemption - £125.00. 7. A BVI domain name registration for two years - £120.00. 8. All documents notarised and apostilled - £125.00. 9. Corporate kit - £40.00.
Our BVI offshore companies are formed as general trading companies. Because of their widely drawn memorandum and articles of association, they are able to conduct most kinds of business. Starting from just £1,105, we offer a range of packages designed to suit the varying requirements of our customers. Our BVI formations typically take from between two and five days to effect, and include: our service charge, the government fee for incorporation, the first year's fees for a registered office address, registered agent, a nominee director and a nominee shareholder are included in the price of this package. Upon formation of your BVI company, we will courier all of the company documents directly to you.
THE FOLLOWING UPGRADES CAN BE ADDED TO OUR DELUXE PACKAGE:
1. Nominee secretary service for 12 months - £150.00. 2. Opening a bank account from - £500.00. 3. Certificate of incumbency - £120.00. 4. Certificate of good standing - £100.00. 5. Certificate of tax exemption - £125.00. 6. A BVI domain name registration for two years - £120.00. 7. All documents notarised and apostilled - £125.00. 8. Corporate kit - £40.00.
Apart from fiscal suitability and confidentiality, the choice of an offshore jurisdiction for trading purposes will be influenced by a variety of other concerns, for example: -
The suitability of transport links;
The availability of skilled local labour;
The entry and work permits requirements;
The proximity to markets;
The local cost levels;
The effectiveness of local banking and commercial services;
The telecommunications and e-commerce infrastructure;
The availability of duty-free zones.
Financial holding and investment
It is generally larger companies, especially multinationals, that use offshore centres for holding and investment. For them, the chief motivation in operating offshore remains the tax advantages: banks and financial institutions move offshore in order to reduce their own tax bills and to service the needs of corporations that want to lower their tax burdens.
Individuals can also benefit from vesting their private funds in an offshore investment company. Such funds can then be invested or deposited anywhere in the world, and any return from investment would accumulate in a tax-free environment.
In addition to tax advantages, an individual operating an offshore investment company would benefit from increased confidentiality and anonymity, and added flexibility with respect to the distribution and reinvestment of funds.
Corporate finance and management
Although some western countries are now offering low-tax incentives to attract the corporate headquarters of larger corporations, the majority of companies tend to locate some, or all, of their support services in an offshore centre. The types of support services located offshore include: procurement, marketing and distribution, telecommunications, computing, recruitment and training, pensions management, and payroll.
Saving on tax is always the principal benefit, but there are often additional cost and operational advantages from moving offshore.
Foreign exchange management is a good example of how a centralized offshore centre management can benefit a group: any large group with many subsidiaries in different countries has substantial costs connected with foreign exchange. Multi-currency treasury management on the basis of a set of independent national treasury operations is nearly the worst possible method, and concentration of all transactions into a flexible central treasury in a jurisdiction without exchange controls or predatory and highly-protected local banks is an obvious solution. Providing that the centralised currency management function is based in an offshore centre with good local financial infrastructure, treasury management can optimise cash flows without concerns about withholding taxes, capital gains, or any of the other unpleasant taxes or regulations often imposed by high-tax governments. Obviously, the profits from such an operation, which can be quite substantial in a large group, are made in a low-tax jurisdiction.
Licensing, franchising, and royalty collection
One of the most common uses of offshore centres is for the collection of revenue from technology licenses, franchise fees, and royalties from intellectual property.
Such revenue is often subject to withholding taxes in the country from which they originate, and will be taxed, sometimes for a second time, when transferred to the country of the licensor. An offshore centre which has favourable double-tax treaties with emerging market countries, and which does not levy withholding tax on onward payments, will be an ideal location for an intermediary company. The tax benefits are optimised if this intermediary offshore collection company is independent of the licensing or franchising company.
US tax law has traditionally regulated against the possibility of not paying US tax on the sale of intellectual property from offshore jurisdictions. This regulation has become outmoded with the technological developments allowing for the digital download of intellectual property or property rights from servers in offshore jurisdictions.
This area of law is in flux, however, and such schemes should be considered very carefully.
Professional services and contractors
There is a large amount of professional support work generated by busy offshore centres. Some of this work is provided by the local market, but a large amount is provided by foreign professionals. Because professional support services are so necessary and valuable to the infrastructure, offshore centres generally make themselves attractive to such operations.
Offshore centres are also an attractive option for other professionals who offer their services internationally, for example: engineering and management consultants. Such businesses benefit from low taxation.
A free-lance international contractor or consultant can reduce his or her tax burden by incorporating an offshore company through which their contracts are then routed. As a contractor it is possible to receive a fixed level of taxed remuneration (salary) from their company, and leave the remaining income to accumulate and be held by the offshore company in a non tax environment.
This solution is ideal for free-lance individuals such as designers, authors, consultants and entertainers. A further advantage of a professional services company is that any liabilities arising from the fulfilment of a contract would fall upon the company, and not the individual.
The choice of offshore centre for businesses or individuals offering personal services is contingent upon the location of their customers and their own existing residence.
Shipping
The use of offshore shipping companies can eliminate direct or indirect taxation on shipping. Such companies may own or charter ships and accumulate the profits from these activities tax-free. Ships or yachts may be owned by an offshore company and registered in an offshore jurisdiction which can prove a cheaper and more tax efficient method of ownership.
Holding and property owning
A holding company can be established and used to hold the shares of subsidiaries located in high tax countries. Most high tax countries require tax to be withheld on dividends to be paid to non residents, so attention should be paid to the availability of the double-tax treaty between the country where the subsidiary is located and where the holding company is established.
Many of the difficulties and expenses associated with investment in overseas property, such as holiday villas, may be avoided through the use of an offshore company to hold the title of the property. Sales of the property at a future date can be dealt with quickly and easily by the sale of the company shares to the purchaser. This also saves legal fees and overseas transfer and value added taxes levied by certain foreign countries. It can also be used to successfully avoid capital gains and inheritance taxes.
Where a person is domiciled outside a territory and owns assets located in that territory (for instance, property), then such assets may be protected against inheritance tax and higher rates of taxation by holding the assets through an offshore investment company.
A high net worth individual with properties or other assets in a number of countries may wish to hold these through the medium of a personal holding company so that upon his demise the need to obtain probate in each country is avoided. This saves legal fees and avoids publicity.
The Offshore Industry and Western Government
Company Formation Service
Offshore jurisdictions are often associated with large corporations and millionaires, but are in fact extremely well suited for small and medium businesses and individuals. Offshore companies adhere to the laws and regulations of the country in which they are situated. Coddan can help you set up a BVI offshore company in a very cost effective yet efficient manner and help you fully understand the many nuances associated with each offshore jurisdiction. Our services are completely legal and include the creation of various types of offshore corporate and trust vehicles for reasons like international trading, intellectual property activities, securities and property holding and financial and estate planning through trusts. Our focus is to integrate and combine various estate planning processes into an estate plan with sensible asset protection components. When used in connection with an offshore trust, an offshore corporation can become a very effective international financial or estate planning structure. Coddan helps you set up all major offshore structures such as companies, trusts, foundations, bank accounts, giving you full freedom, security & confidentiality within the legal framework. We cater to the needs of both individual and professional clients all across the globe. We can help you with: -
BVI offshore company registration services
Guidance and support in the smooth functioning of the business structure
Maintenance of the incorporation
Special licensing applications
Specialist advisory on business & tax issues
Provision of company management & administration services
Preparation of corporate documentation, etc.
Provision of the registered address, agent and residing secretary
Provision of company management and administration services
Offshore BVI bank account introductions
Mail forwarding
Preparation of corporate documentation
General administration
We are agile in business formation, integrating and influencing offshore business entities with new or already present asset-protection structures in all major offshore jurisdictions. Coddan CPM LTD grants you privacy and security, and wishes you success in your new venture. A meeting with one of our consultants is all that's required to start your offshore incorporation process.
Related Articles
From small beginnings early in the 20th century, the offshore sector has grown ever faster in response to high tax rates in the developed countries; it is now estimated that more than half of the world's money is held offshore.
The term Offshore is used loosely to refer to jurisdictions, usually islands, which are outside of the control of highly-taxed Western nations. Western nations have never seriously attempted to curb the use of offshore companies, which has become more popular and is now a valuable tool for any company wanting to optimise their structures and profits.
Although the OECD fulminates about harmful tax competition, and the EU complains about unfair tax practices, the resulting changes to low tax offshore regimes is minimal. This is partly because the wealthy western nations provide their own tax incentives for particular local purposes, and partly because these nations themselves (both governments and individuals) make plentiful use of the offshore industry.
In 1999 and 2000, global concerns about money laundering turned the spot light on the offshore industry. This has certainly leaded to better regulatory structures in many of offshore jurisdictions, but they are fiercely resisting the underlying agenda of tax harmonisation. There are currently 70 self-declared offshore centres and competition is fierce; any offshore centre which gave in to pressure from western nations to reduce its attraction as a tax haven, would quickly be picked clean by its competitors.
One thing that the western nations can do, and are increasingly trying to do, is to limit the behaviour of their own citizens offshore by introducing new tax legislation. As ever, such efforts have far more effect on small to medium businesses than on large wealthy ones. Well advised, wealthy individuals and corporations generally manage to avoid anti-avoidance measures.
The Internet brings a new dimension to taxation; it is now possible for a supplier to offer and deliver products to citizens in ways which completely bypass the traditional tax-measuring and tax-collecting structures of government. It remains to be seen whether the tax leakage this implies will spur governments on to a more earnest campaign against the use of offshore centres. The success of any such campaign is doubtful; it is more likely that a global approach to e-commerce taxation will evolve in time. This is not a problem that can be solved by individual countries, or even by groups of countries.
Offshore centres themselves vary, serving different purposes for different types of individual and corporation. Not all of those purposes are legitimate: there is no doubt that offshore centres have been use illegitimately for money laundering. Governments and economic organizations such as the OECD have had some success in preventing abuses, but laundering remains a problem in some offshore centres.
BVI Company Name
The word "Limited", "Corporation", "Incorporated", "Societe Anonyme" or "Sociedad Anonima" or the abbreviation "Ltd", "Corp", "Inc" or "S.A." must be part of the name of every company incorporated under Business Companies Act, but a company may use and be legally designated by either the full or the abbreviated form. No company shall be incorporated under Business Companies Act under a name that: is identical with that under which a company in existence is already incorporated under Business Companies Act or registered under the Companies Act or so nearly resembles the name as to be calculated to deceive, except where the company in existence gives its consent; or contains the words "Assurance", "Bank", "Building Society", "Chamber of Commerce", "Chartered", "Cooperative", "Imperial", "Insurance, "Municipal", "Royal", "Trust Company" and "Trustee company" or a word conveying a similar meaning, or any other word that, in the opinion of the Registrar, suggests or is calculated to suggest the patronage of Her Majesty or that of a member of the Royal Family, a connection with Her Majesty's Government or a department thereof, or a connection with a municipality or other local authority or with a society or body incorporated by Royal Charter, except with the approval of the Registrar in writing.
BVI Company Memorandum
The memorandum must include: the name of the company; the address within the British Virgin Islands of the registered office of the company; the name and address within the British Virgin Islands of the registered agent of the company; the objects or purposes for which the company is to be incorporated; the currency in which shares in the company shall be issued; a statement of the authorised capital of the company setting forth the aggregate of the par value of all shares with par value that the company is authorised to issue and the amount, if any, to be represented by shares without par value that the company is authorised to issue. A statement of the number of classes and series of shares, the number of shares of each such class and series and the par value of shares with par value and that shares may be without par value, if that is the case.
A statement of the designations, powers, preferences and rights, and the qualifications, limitations or restrictions of each class and series of shares that the company is authorised to issue, unless the directors are to be authorised to fix any such designations, powers, preferences, rights, qualifications, limitations and restrictions and in that case, an express grant of such authority as may be desired to grant to the directors to fix by a resolution any such designations, powers, preferences, rights, qualifications, limitations and restrictions that have not been fixed by the memorandum.
A statement of the number of shares to be issued as registered shares and the number of shares to be issued as shares issued to bearer, unless the directors are authorised to determine at their discretion whether shares are to be issued as registered shares or to bearer, and in that case an express grant of such authority as may be desired must be given to empower the directors to issue shares as registered shares or to bearer as they may determine by resolution of directors. Whether registered shares may be exchanged for shares issued to bearer and whether shares issued to bearer may be exchanged for registered shares.
The memorandum must be subscribed by the registered agent named in the memorandum in the presence of another person who must sign his name as a witness. The memorandum, when registered, binds the company and its members from time to time to the same extent as if each member had subscribed his name and affixed his seal thereto and as if there were contained in the memorandum, on the part of himself, his heirs, executors and administrators, a covenant to observe the provisions of the memorandum, subject to Business Companies Act.
BVI Company Articles of Association
The memorandum, when submitted for registration, must be accompanied by articles of association prescribing regulations for the company. The articles must be subscribed by the registered agent named in the memorandum in the presence of another person who must sign his name as a witness. The articles, when registered, bind the company and its members from time to time to the same extent as if each member had subscribed his name and affixed his seal thereto and as if there were contained in the articles, on the part of himself, his heirs, executors and administrators, a covenant to observe the provisions of the articles, subject to Business Companies Act.
BVI Offshore Business Company Registration
The Registrar shall not register the memorandum or the articles delivered to him unless he is satisfied that all requirements of Business Companies Act in respect of registration have been complied with and a solicitor engaged in the formation of the company; or the registered agent named in the memorandum of the company to be the registered agent, certifies in writing that the requirements of Business Companies Act in respect of registration have been complied with and the written certification delivered to the Registrar is sufficient evidence of compliance. The Registrar shall retain and register the memorandum and articles submitted to him in a Register to be maintained by him to be known as the Register of Business Companies. Upon the registration of the memorandum and the articles, the Registrar shall issue a certificate of incorporation under his hand and seal certifying that the company is incorporated.
Certificate Of Incorporation
Upon the issue by the Registrar of a certificate of incorporation of a company, the company is, from the date shown on the certificate of incorporation, a body corporate under the name contained in the memorandum with the full capacity of an individual who is sui juris. A certificate of incorporation of a company incorporated under Business Companies Act issued by the Registrar is prima facie evidence of compliance with all requirements of Business Companies Act in respect of incorporation.
Power To Allot Shares
Subject to any limitations or provisions to the contrary in its memorandum or articles, the unissued shares and treasury shares of a company incorporated under Business Companies Act shall be at the disposal of the directors who may, without limiting or affecting any rights previously conferred on the holders of any existing shares or class or series of shares, offer, allot, grant options over or otherwise dispose of shares to such persons, at such times and upon such terms as the company may, by resolution of directors, determine.
Shares To Be Fully Paid
No share in a company incorporated under Business Companies Act may be issued until the consideration in respect of the share is fully paid, and when issued the share is for all purposes fully paid and non-assessable save that a share issued for a promissory note or other written obligation for payment of a debt may be issued subject to forfeiture in the manner prescribed in section below.
Kind of Consideration for Shares
Subject to any limitations or provisions to the contrary in its memorandum or articles each share in a company incorporated under Business Companies Act shall be issued for money, services rendered, personal property (including other shares, debt obligations or other securities in the company), an estate in real property, a promissory note or other binding obligation to contribute money or property, or any combination thereof.
Forfeiture of Shares
The memorandum or articles, or an agreement for the subscription of shares, of a company incorporated under Business Companies Act may contain provisions for the forfeiture of shares for which payment is not made pursuant to a promissory note or other written binding obligation for payment of a debt.
Any provision in the memorandum or articles, or in an agreement for the subscription of shares of a company incorporated under Business Companies Act providing for the forfeiture of shares shall contain a requirement that written notice specifying a date for payment to be made be served on the member who defaults in making payment pursuant to a promissory note or other written binding obligation to pay a debt.
The written notice shall name a further date not earlier than the expiration of 14 days from the date of service of the notice on or before which the payment required by the notice is to be made and shall contain a statement that in the event of non-payment at or before the time named in the notice the shares, or any of them, in respect of which payment is not made will be liable to be forfeited.
Where a notice has been issued under this section and the requirements of the notice have not been complied with, the directors may, at any time before tender of payment, by resolution of directors forfeit and cancel the shares to which the notice relates. The company is under no obligation to refund any moneys to the member whose shares have been cancelled and that member shall be discharged from any further obligation to the company.
Amount of Consideration for Shares
Subject to any limitations or provisions to the contrary in its memorandum or articles, shares in a company incorporated under Business Companies Act may be issued for such amount as may be determined from time to time by the directors, except that in the case of shares with par value, the amount shall not be less than the par value; and, in the absence of fraud, the decision of the directors as to the value of the consideration received by the company in respect of the issue is conclusive, unless a question of law is involved.
A share issued by a company incorporated under Business Companies Act upon conversion of, or in exchange for, another share or a debt obligation or other security in the company, shall be treated for all purposes as having been issued for money equal to the consideration received or deemed to have been received by the company in respect of the other share, debt obligation or security.
Fractional Shares
Subject to any limitations or provisions to the contrary in its memorandum or articles, a company incorporated under Business Companies Act may issue fractions of a share and unless and to the extent otherwise provided in the memorandum or articles, a fractional share has the corresponding fractional liabilities, limitations, preferences, privileges, qualifications, restrictions, rights and other attributes of a whole share of the same class or series of shares.
Authorised Capital in Several Currencies
The authorised capital, if any, of a company incorporated under Business Companies Act may be stated in more that one currency in which case the par value of the shares, if any, shall be expressed in the same currencies.
Capital and Surplus Accounts
Upon the issue by a company incorporated under Business Companies Act of a share with par value, the consideration in respect of the share constitutes capital to the extent of the par value and the excess constitutes surplus.
Subject to any limitations or provisions to the contrary in its memorandum or articles, upon the issue by a company incorporated under Business Companies Act of a share without par value, the consideration in respect of the share constitutes capital to the extent designated by the directors and the excess constitutes surplus, except that the directors must designate as capital an amount of the consideration that is at least equal to the amount that the share is entitled to as a preference, if any, in the assets of the company upon liquidation of the company.
Upon the disposition by a company incorporated under Business Companies Act of a treasury share, the consideration in respect of the share is added to surplus.
Dividend of Shares
A share issued as a dividend by a company incorporated under Business Companies Act shall be treated for all purposes as having been issued for money equal to the surplus that is transferred to capital upon the issue of the share. In the case of a dividend of authorised but unissued shares with par value, an amount equal to the aggregate par value of the shares shall be transferred from surplus to capital at the time of distribution.
In the case of a dividend of authorised but unissued shares without par value, the amount designated by the directors shall be transferred from surplus to capital at the time of the distribution, except that the directors must designate as capital an amount that is at least equal to the amount that the shares are entitled to as a preference, if any, in the assets of the company upon liquidation of the company.
A division of the issued and outstanding shares of a class or series of shares into a larger number of shares of the same class or series having a proportionally smaller par value does not constitute a dividend of shares.
Increase or Reduction of Authorised Capital
Subject to any limitations or provisions to the contrary in its memorandum or articles, a company incorporated under Business Companies Act may amend its memorandum to increase or reduce its authorised capital, and in connection therewith, the company may increase or reduce the number or shares which the company may issue; increase or reduce the par value of any of its shares.
Where a company reduces its authorised capital, then, for purposes of computing the capital of the company, any capital that immediately before the reduction was represented by shares but immediately following the reduction is no longer represented by shares shall be deemed to be capital transferred from surplus to capital. A company shall, in writing, inform the Registrar of any increase or decrease of its authorised capital.
Division and Combination
A company incorporated under Business Companies Act may amend its memorandum to divide the shares, including issued shares, of a class or series into a larger number of shares of the same class or series; or to combine the shares, including issued shares, of a class or series into a smaller number of shares of the same class or series. Where shares are divided or combined, the aggregate par value of the new shares must be equal to the aggregate par value of the original shares.
Character of a Share
Shares of a company incorporated under Business Companies Act are personal property and are not of the nature of real property.
Share Certificates
A company incorporated under Business Companies Act must state in its articles whether or not certificates in respect of its shares shall be issued. If a company incorporated under Business Companies Act issues certificates in respect of its shares, the certificates must be signed by two directors or two officers of the company, or by one director and one officer; or must be under the common seal of the company, with or without the signature of any director or officer of the company; and the articles may provide for the signatures or common seal to be facsimiles.
A certificate specifying a share held by a member of the company is prima facie evidence of the title of the member to the share specified therein.
Share Register
A company incorporated under Business Companies Act shall cause to be kept one or more registers to be known as share registers containing the names and addresses of the persons who hold registered shares in the company; the number of each class and series of registered shares held by each person; the date on which the name of each person was entered in the share register; the date on which any person ceased to be a member.
In the case of shares issued to bearer, the total number of each class and series of shares issued to bearer; and with respect to each certificate for shares issued to bearer the identifying number of the certificate; the number of each class or series of shares issued to bearer specified therein; and the date of issue of the certificate.
But the company may delete from the register information relating to persons who are no longer members or information relating to shares issued to bearer that have been cancelled. The share register may be in any such form as the directors may approve but if it is in magnetic, electronic or other data storage form, the company must be able to produce legible evidence of its contents.
The share register is prima facie evidence of any matters directed or authorised by Business Companies Act to be contained therein. A company that wilfully contravenes this section is liable to a penalty of US$ 25.00 for each day or part thereof during which the contravention continues, and a director who knowingly permits the contravention is liable to a like penalty.
Transfer of Registered Shares
Subject to any limitations or provisions to the contrary in its memorandum or articles, registered shares of a company incorporated under Business Companies Act may be transferred by a written instrument of transfer signed by the transferor and containing the name and address of the transferee.
A company shall not be required to treat a transferee of a registered share in the company as a member until the transferee's name has been entered in the share register. Subject to any limitations or provisions to the contrary in its memorandum or articles, a company incorporated under Business Companies Act must, on the application of the transferor or transferee of a registered share in the company, enter in its share register the name of the transferee of the share.
A transfer of registered shares of a deceased, incompetent or bankrupt member of a company incorporated under Business Companies Act made by his personal representative, guardian or trustee, as the case may be, or a transfer of registered shares owned by a person as a result of a transfer from a member by operation of law, is of the same validity as if the personal representative, guardian, trustee or transferee had been the registered holder of the shares at the time of the execution of the instrument of transfer.
BVI Registered Office
A company incorporated under Business Companies Act shall at all times have a registered office in the British Virgin Islands, and the registered office must be an office maintained in the British Virgin Islands by the company or its registered agent.
BVI Registered Agent
A company incorporated under Business Companies Act shall at all times have a registered agent in the British Virgin Islands. No person shall be a registered agent unless he has been licensed as a registered agent under the Company Management Act, 1990 or under the Banks and Trust Companies Act, 1990.
The Registrar shall maintain a register of licensed registered agents in which the following details shall be recorded the name of the registered agent; the address of the registered agent; the names of the individuals authorised to sign on behalf of any firm or corporation that is a registered agent; the date when the first licence to act as a registered agent was issued pursuant to the Company Management Act, 1990 or the Banks and Trust Companies Act, 1990.
In a case where a registered agent ceases to be a registered agent the date on which the registered agent ceased to be licensed, and whether the cessation was due to failure to renew his licence, death or liquidation or revocation under the Company Management Act, 1990 or under the Banks and Trust Companies Act, 1990.
The Registrar shall, during the month of February in each year, publish in the Gazette a list of registered agents as appeared on the register of licensed registered agents on 31st January in that year. Any change in the details kept by the Registrar in the register of registered agents shall be notified immediately by the registered agent to the Registrar, and, upon payment of such fee as may be prescribed by the Governor in Council, the Registrar shall record the change in the register of registered agents.
Management by Directors
Subject to any limitations or provisions to the contrary in its memorandum or articles, the business and affairs of a company incorporated under Business Companies Act shall be managed by a board of directors that consists of one or more persons who shall be individuals or companies.
Election, Term and Removal of Directors
The first directors of a company incorporated under Business Companies Act shall be elected by the subscribers to the memorandum; and thereafter, the directors shall be elected by the members for such term as the members may determine, and where permitted by the memorandum or articles of a company incorporated under Business Companies Act, the directors may also elect directors for such term as the directors may determine.
Each director holds office until his successor takes office or until his earlier death, resignation or removal. Subject to any limitations or provisions to the contrary in its memorandum or articles a director may be removed from office by a resolution of members or by a resolution of directors; and a director may resign his office by giving written notice of his resignation to the company and the resignation has effect from the date the notice is received by the company or from such later date as may be specified in the notice.
Subject to any limitations or provisions to the contrary in its memorandum or articles, a vacancy in the board of directors may be filled by a resolution of members or of a majority of the remaining directors.
Optional Register of Directors
A company incorporated under Business Companies Act may keep a register to be known as a register of directors containing the names and addresses of the persons who are directors of the company; the date on which each person whose name is entered in the register was appointed as a director of the company; and the date on which each person named as a director ceased to be a director of the company.
The register of directors may be in such form as the directors approve, but if it is in magnetic, electronic or other data storage form, the company must be able to produce legible evidence of its contents. A copy of the register of directors, commencing from the date of the registration of the company, shall be kept at the registered office of the company. The register of directors is prima facie evidence of any matters directed or authorised by Business Companies Act to be contained therein.
Number of Directors
The number of directors shall be fixed by the articles and, subject to any limitations or provisions to the contrary in its memorandum or articles, the articles may be amended to change the number of directors.
Powers of Directors
The directors have all the powers of the company that are not reserved to the members under Business Companies Act or in the memorandum or articles.
Emoluments of Directors
Subject to any limitations or provisions to the contrary in its memorandum or articles, the directors may, by a resolution of directors, fix the emoluments of directors in respect of services to be rendered in any capacity to the company.
Committees of Directors
The directors may, by a resolution of directors, designate one or more committees, each consisting of one or more directors. Subject to any limitations or provisions to the contrary in its memorandum or articles, each committee has such powers and authority of the directors, including the power and authority to affix the common seal of the company, as are set forth in the resolution of directors establishing the committee, except that no committee has any power or authority with respect to the matters requiring a resolution of directors.
Alternates for Directors
Subject to any limitations or provisions to the contrary in its memorandum or articles, a director may by a written instrument appoint an alternate who need not be a director. An alternate for a director appointed is entitled to attend meetings in the absence of the director who appointed him and to vote or consent in the place of the director.
Officers and Agents
The directors may, by a resolution of directors, appoint any person, including a person who is a director, to be an officer or agent of the company. Subject to any limitations or provisions to the contrary in its memorandum or articles, each officer or agent has such powers and authority of the directors, including the power and authority to affix the common seal of the company, as are set forth in the articles or in the resolution of directors appointing the officer or agent, except that no officer or agent has any power or authority with respect to the matters requiring a resolution of directors under Business Companies Act.
The resolution of directors appointing any person to be an agent of the company may authorise the agent to appoint one or more substitutes or delegates to exercise some or all of the powers conferred on the agent by the company.
Standard of Care
Every director, officer, agent and liquidator of a company incorporated under Business Companies Act, in performing his functions, shall act honestly and in good faith with a view to the best interests of the company and exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances.
No provision in the memorandum or articles of a company incorporated under Business Companies Act or in any agreement entered into by the company relieves a director, officer, agent or liquidator of the company from the duty to act in accordance with the memorandum or articles or from any personal liability arising from his management of the business and affairs of the company.
Books, Records and Common Seal
A company incorporated under Business Companies Act shall keep such accounts and records as the directors consider necessary or desirable in order to reflect the financial position of the company.
A company incorporated under Business Companies Act shall keep minutes of all meetings of directors, members, committees of directors, committees of officers, and committees of members, and copies of all resolutions consented to by directors, members, committees of directors, committees of officers, and committees of members.
The books, records and minutes required by this section shall be kept at the registered office of the company or at such other place as the directors determine. A company incorporated under Business Companies Act shall have a common seal and an imprint thereof shall be kept at the registered office of the company.
A company that wilfully contravenes this section is liable to a penalty of US$ 25.00 for each day or part thereof during which the contravention continues, and a director, who knowingly permits the contravention, is liable to a like penalty.
Inspection of Books and Records
A member of a company incorporated under Business Companies Act may, in person or by attorney and in furtherance of a proper purpose, request in writing specifying the purpose to inspect during normal business hours the share register of the company or the books, records, minutes and consents kept by the company and to make copies or extracts therefrom.
If a request is submitted by an attorney for a member, the request must be accompanied by a power of attorney authorising the attorney to act for the member. If the company, by a resolution of directors, determines that it is not in the best interest of the company or of any other member of the company to comply with a request, the company may refuse the request.
Upon refusal by the company of a request, the member may before the expiration of a period of 90 days of his receiving notice of the refusal, apply to the court for an order to allow the inspection.
Power of Attorney
A company incorporated under Business Companies Act may, by an instrument in writing, whether or not under its common seal, authorise a person, either generally or in respect of any specified matters, as its agent to act on behalf of the company and to execute contracts, agreements, deeds and other instruments on behalf of the company.
A contract, agreement, deed or other instrument executed on behalf of the company by an agent appointed, whether or not under his seal, is binding on the company and has the same effect as if it were under the common seal of the company.
Benefits and Features of the BVI Offshore Business Companies
Business companies are exempt from all BVI taxes and stamp duty (save for registration and annual license/franchise fees) even though the administration of an business companies may be from within the BVI. There are no minimum issued share capital requirements. A business companies is required to have a registered agent and office in the BVI. In most cases, nominee directors will also be employed to allow anonymity to be maintained when dealing with third parties.
However, like most other jurisdictions in the Caribbean no details are maintained on public record. Both registered and bearer shares can be issued (and converted from one to another) and a company may acquire and hold its own shares.
Only one director is required. A company may serve as director. There are no nationality requirements for either directors or shareholders, only one shareholder is required. The books and records of a company may be maintained anywhere. Directors have power to protect the assets of the company by transferring them to trustees, another company or other legal entities for the benefit of the business companies, its beneficial owner(s) and/or creditors). Registered agents are authorized to verify and authenticate the signatures of all company directors and officers including those of the agents concerned. The Business Companies Ordinance allows a company incorporated outside of the BVI to be re-domiciled in the BVI under the 'continuation' features of this Ordinance. The name of the corporation may be in any language. It must contain the word(s) Limited, Corporation, Incorporated, Sociedad Anonima, Societe Anonyme, an equivalent, or an abbreviation thereto. No-accounts or annual summaries have to be filed with the Government, with the exception of the annual fee form to be completed and filed by the registered agent in the BVI.
Registration of BVI Trade Marks
The Registrar of trade marks of British Virgin Islands may register a trade mark on application by or on behalf of any person, claiming to be the proprietor of a trade mark. For the purposes of registering a trade mark in the BVI, a mark must consist, at least, one of the following essential particulars: -
A name of an individual or firm printed, impressed or woven in some particular and distinctive manner; or
A written signature, or copy of a written signature, of the individual or firm applying for registration thereof as a trade mark; or
A distinctive devise, mark, brand, heading, label or ticket; or
An invented word or invented words; or
A word or words having no reference to the character or quality of the goods, and not being a geographical name.
A trade mark must be registered for particular goods or classes of goods.
Filing of Application for Registration of a BVI Trade Mark
The application for registration of a trade mark is filed with the Registry of trade marks of the BVI and published in the BVI Official Gazette twice.
Three months after the date of the first publication (within which opposition against th application may be filed by anyone claiming to have that right), the Registry shall grant registration of the mark for a renewable period of fourteen (14) years and shall cause the corresponding certificate of registration.
Assignment
The document containing the assignment must be filed at the Registry of trade marks; this document must be acknowledged by a Notary Public.
A power of attorney is required, authorising the Agent to file it on behalf of the Applicant.
Live Help
You can chat with one of our advisors right now. Just click on the image to the left to start chatting. Live Help is a real time chat feature which enables you to interact with our customer service representative without a phone call. Get answers to your questions while using our web-site. Clicking the "Live Help" button will start an online session with one of our representatives. Live Help is currently available during normal business hours. Outside of the indicated below opening hours, our Live Help centre will be closed, when you click on the chat button, you will see an e-mail form that allows you to send us an e-mail request with your questions. Our Live Help is free, there are no hidden fees.
Our hours of operation are posted on the contact page at all times. Telephone and Live Chat assistance is only available during business hours.
Opening Hours:
Monday - Friday: 9:30 a.m. to 18:00 p.m. Saturday: offices are closed Sunday: offices are closed Holidays: offices are closed on all recognised UK holidays.
Dear customers, ladies and gentlemen, while having a chat session with our visitors, we are frequently requested to give an advice on tax planning or business structuring, and we would like to inform you that it is against our principles to provide an online free advice pertaining to these issues.
The points and tips that can be covered during a chat session include: our packages, services description and charges, legal requirements to start-up a business offshore, bank account arrangements, trademark registration, post incorporation services, notaries, consulate or apostille legalisation and other authentication services, documentation preparation and filing, mail forwarding overseas, telephone, fax and virtual office facilities, bookkeeping and accounting services, offshore incorporation service, ways to place an order, methods of payment etc.
If you wish us to provide you an advice or recommendations on tax savings and tax minimisation, or corporate business structuring methods, you should be aware that this service has chargeable elements.
Guide Regarding Initial Consultations
Please take the note, that the initial or further consultation fee for incorporation of an offshore company is not included in the price of our offshore companies formation packages. Coddan is happy to help you find answers to any general question you may have regarding the offshore companies formation. We ask that you send your initial inquiries via e-mail if you have a specific question. However, generally, a large volume of e-mail's or phone calls does impede us from completing work for our existing clients.
You will generally get the most value from our communications if, before e-mailing or calling, you review the information on our website carefully towards answering your question(s). Many of your basic questions can be efficiently answered by searching our website using the search on the left toolbar, and by the LiveChat. After getting your basic questions answered through our website, you will have enough time to ask us more detailed questions, possibly more relevant to your unique situation.
Coddan promptly responds to e-mails regarding the firm's current lead-time and ability to accept new clients. Although we make every attempt to provide free information online to answer all your questions about most common situations, you may have more detailed questions.
Due to our high-volume practice, before contacting us by phone, it is less burdensome on our workload if you e-mail us your question(s). Generally, we will respond to your e-mail questions in a timely manner; however at times, our heavy caseload may delay our response time somewhat. The vast majority of the time, the combination of our free online information and e-mail response will efficiently answer your questions. If the combination of our online resources and e-mail or LiveChat interaction are not efficient towards answering your questions and/or resolving any concerns, and if the cost of the services you are interested will be at least £125.00, then we will setup a time that a Coddan offshore business practitioner will be available for a meeting to quickly resolve your general questions.
If this informational call is less than 10 minutes long, then there is no charge for our time. Thereafter, if your questions have not been resolved, then you may want to arrange an initial consultation with a Coddan offshore business practitioner who can evaluate your unique situation in more detail.
The cost of our initial consultation depends on the category of service you seek. Our services can be grouped into are two general categories, each having its respective consultation costs as follows: -
Flat-fee services under £2,000 - £125.00 per hour.
Services over £2,000 - £100.00 per hour.
Once we understand the nature of your project and your needs, we will be glad to give you a fixed fee proposal. If a written report is required, there is an additional fee of £125.00 to £250.00.
Please note that Coddan does not respond to e-mail's or conduct telephone consultations unless you provide your verifiable full name, address, telephone number, and e-mail address. Coddan cannot respond to anonymous inquiries.
Money and Payment Policy
Coddan accepts all major currencies; we accept Visa, Visa Electron, Visa Purchasing, JCB, MasterCard, Maestro, Solo, and Delta, we also accept cheques (may be held 10 days to clear), postal orders or cash deposit, and bank transfers from anywhere to our UK and USA bank accounts. After you place an order, details about the banking transfer will be e-mailed to you on the second e-mail notification. If you missed that e-mail, please call our phone number that is given on the order confirmation. The customer is responsible for the reimbursement of any bank wire transfer payments.
Our credit card payment processing is by WorldPay - an important part of The Royal Bank of Scotland Group, the 5th biggest banking group in the world. We do not charge surcharges for the debit and credit card transactions. Credit or debit card payment is now authorised online in real time. You will be informed immediately if your credit or debit card is declined. If declined, you may check the accuracy of the card number and expiration date, or choose a different card to try.
We need to receive a payment before we can proceed with a new company formation. For regular or corporate clients, we can open a professional credit account. However, this benefit cannot be provided to a new customer, who never placed orders with us.
If you do not feel comfortable transmitting your credit card details on the Internet, we suggest you place an order online, choose the option "Credit Card via the Phone" as the payment method, and then phone in to give us your credit card number over the phone. We will charge your credit card manually. We can also accept credit or debit card payments by fax, to do so, we will e-mail you a credit or debit card authorisation form, and you will need to print out the form, complete the details by hand and send it to us by fax to: + 44 (0) 207.681.3318. More information about how to incorporate in BVI:click here to read more about how to register an offshore company in the BVI
Check Your Order Status
£ 650.00
This is one of our most popular packages with worldwide customers, and includes: -
The formation of a business company usually takes as little as two to five working days from the time that your application and payment are received by Coddan;
The provision of a nominee director for one year is also included in the price of this package (our nominee director service is charged annually);
The British Virgin Islands seem to have got as close to being a perfect private offshore international financial centre as can be imagined. For 25 years the Government has welcomed offshore business, and has created a world-standard regulatory structure to avoid money-laundering and other criminal activity. Like Bermuda, the BVI decided not to encourage the growth of offshore banking, but the BVI offshore business company must be the world's most successful offshore entity, and is used extensively in financial holding and investment structures, as well as in trust management. The BVI have also been successful in developing mutual funds and captives, although not being the leading jurisdiction in either case. Finally, the BVI have a strong position in yachting both as a registry and as an operating base.
+44 (0) 207.935.5171
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There is a large amount of professional support work generated by busy offshore centres. Some of this work is provided by the local market, but a large amount is provided by foreign professionals. Because professional support services are so necessary and valuable to the infrastructure, offshore centres generally make themselves attractive to such operations.
