| NAME REQUIREMENTS |
| Name Restrictions (Requires Approval) |
Must end with one of the following suffixes: Limited or Ltd.; Corporation or Corp.; Incorporated or Inc. ,Socit Anonyme or S.A.; Sociedad Anonima or S.A. Besioten Vennootshcap or B.V. Gesellschaft mit beschrankter Haftung or GmbH; Naamloze Vennootschap or NV. |
| SHARE CAPITAL |
| Currency |
USD |
| Minimum Paid up Capital |
No minimum |
| Authorised share Capital |
No requirement to state the Authorised Share Capital |
| Bearer shares |
Allowed |
| Public Register of shares |
Optional |
| DIRECTORS |
| Minimum Directors |
1 (Resident director not required). |
| SHAREHOLDERS/MEMBERS |
| Minimum Shareholder |
1 |
| COMPANY SECRETARY |
| Company Secretary |
Optional |
| Local Requirement |
Must maintain a local Registered Agent approved by the local authorities and a local Registered Office. |
| ACCOUNTS |
| Filing of accounts |
Not required but accounts must be prepared |
| Audit Required |
Not Required |
| Filing of Annual Return |
Not Required |
| INCORPORATION PROCEDURES AND TIME FRAME |
| Fill out incorporation form |
10 Minutes |
| Send us due diligence of proposed directors and shareholders |
Depend on Client |
| UPON COMPLETION OF THE ABOVE |
| Check availability of company's name in the Registry of Companies |
2-3 hours |
| Check availability of company's name in the Registry of Companies |
2-3 hours |
| Preparation of incorporation documents |
0.5 days |
| Signing of incorporation documents |
Depend on Client |
| Submission of documents to the Financial Services Commission (FSC) |
N/A |
| Upon completion of the above |
| Incorporate the company with the Registry of Companies and payments of registration fees & Charges |
3 to 5 days |
| Prepare post-incorporation documents |
N/A |
| Tax Residence Certificate |
N/A |
| Business Registration Certificate |
N/A |
| BANK ACCOUNT |
| Bank account opening requirement |
- authenticated passport (must be current and valid) and
- One/two copy of your most recent utility bill to prove your current residency.
- Reference from current banker
|
| Time to open bank account |
7-10 working days |
| TAXATION |
| A Business Company does not pay any tax on its world-wide profits to the British Virgin Islands authorities. |
