Professional BVI companies economic substance recommendations today? Any company that conducts business activities in such spheres now has to demonstrate that it has a registered legal address in the BVI and an office with a sign. In addition, the company shall have a local director or manager, a telephone number and/ or a website. The company founders shall take active part in company management and visit the BVI regularly for business meetings. The BVI is a reputable jurisdiction and this fact is internationally recognized. The OECD has the BVI on the white list of countries. Besides, the jurisdiction is neither on the EU nor on the FATF black lists. The taxation system there is stable and the corporate laws are applied in a consistent manner.
Could my BVI company be conducting “banking business”? Is the company subject to any banking regulations or supervision anywhere? If “Yes”, your BVI company is conducting banking business.. Will the company be receiving funds or deposits from the public in any manner? If “Yes”, your BVI company is conducting banking business.. My company has a bank account; does this count as banking business? No, it does not. Having one or several bank accounts is not considered banking business.
Records and Underlying Documentation: StartingfromJanuary, 15th 2016 all companies shall keep records and underlying documentation for a period of at least five (5) years. In case the records and underlying documentation are kept in a place different from the registered agent’s office, the registered agent shall be informed about the physical address where the records and underlying documentation are kept and the name and address of the person responsible for their custody. A company name can be verified with the Registrar online and it can be confirmed within one hour of being requested. The incorporation will usually take two (2) or three (3) working days. Registered Office/Agent: All companies must apply to the Registry for incorporation by filing a Memorandum and Articles of Association, duly signed by the proposed as incorporator registered agent. Read more information at BVI jurisdiction.
The offshore incorporation process is rather simple and fast. In fact, you can register a company in certain countries just within a few days. The incorporation requirements are normally very minimal. The best thing is that many service providers out there can help you with the registration. All you need to do is find a trustworthy provider, pay for service, and supply necessary documents. They will go on and register the company on your behalf. You do not need to travel or care about the hassle of paperwork. As for the company maintenance, it varies according to different jurisdictions. However, you can expect the reporting requirements to be very minimal too. Some countries also offer many exemptions for small businesses in regard to annual compliance. You can always get help from outsourcing services to relieve the burden of accounting or tax filing requirements.
The continued OMC Group success is reflected in our commitment to serve our clients as a TOP PRIORITY. Our well-established presence is made up of a fully owned network of offices in major financial centers. Through this global system, our clients gain access to a unique multinational family-style organization which can support their needs and provides a variety of corporate services including company formation in accordance with major standards in the industry to comply with the new business requirements. OMC will offer a full range of company formation services in the most recognized jurisdictions including Anguilla, Belize, Bahamas, BVI, Cayman, Hong Kong, Nevis, Panama, Delaware USA, Seychelles, among others. We invite you to partner with us and join the ranks of those who have already benefited from the world-class service rendered by our reliable workforce. See even more info at this website.