BVI companies economic substance and fiduciary services with OMC Group? Companies domiciled in the BVI that conduct business activities abroad do not have to pay the income tax. There are other exemptions as well including the capital gains tax, the inheritance tax, the sales tax, and the VAT. No taxes are due on the dividends, interests, rent, royalties, and other sorts of compensation that a BVI-registered company pays to somebody. High level of confidentiality protection. The registration agent does have exhaustive information about the company beneficiaries. The agent submits the registration documents to the Registrar whose office thus also has access to this information. However, this register is non-public and access to the information that it holds can be given only on a court decision. The public company register does not have to have the information about the company UBOs.
Could my BVI company be conducting “shipping business”? Does owning a private pleasure vessel constitute shipping business? No, it does not. If the company is chartering or renting the vessel to third parties under contract, then “Yes”, your BVI company is conducting shipping business. Does the company provide general HR and/or payroll services to crewmembers? If “Yes”, your BVI company is conducting shipping business. Does the company provide placement of crew-members in ships or vessels and the repatriation of outgoing crewmembers? Does it participate in the relevant logistics, like getting the plane tickets, airport transfer etc.? If “Yes”, your BVI company is conducting shipping business.
According to one of the amendments of the BVI BC Act, since December, 31st 2009 all bearer shares which have not been placed under an official and authorized custody, will be considered as disabled, thus the holders of such shares will not be able to exercise any right over the company such as the right to vote or to receive dividends, nor will be able to transfer the company. Shareholders: A minimum of one (1) shareholder is required. Corporate or natural shareholders are permitted. No details of the shareholders appear on the public register but a register of shareholders must be kept at the registered office of the BVI Company. 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 extra details on BVI jurisdiction.
“How can I benefit from an offshore company?” is a common question. Tax optimization lies on top of the list. But offshore companies can offer you more than that. Other typical benefits include better privacy, asset protection, ease of incorporation, and low-cost maintenance. Some countries impose ridiculously high tax rates on corporate income. For example, the rates are 37.5% in Puerto Rico, 30% in Germany, and 28.4% in France. That’s why thousands of entrepreneurs out there have decided to go offshore. If you find yourself in this situation, then following the offshore path is the right choice. Tax optimization does not necessarily mean to evade taxes. Breaking the law is not a wise thing to do. When seeking tax solutions, you should comply with both the laws in the incorporated jurisdiction and your home country.
Established in 1955, OMC Group (OMC) is a solid multinational company that provides world-class corporate solutions from its global network of offices. OMC can offer clients more than 65 years of experience as an international management company and provides valuable services in many areas of international business. Our culture is built on the importance of providing high-quality customer service, ensuring a fast, friendly and efficient response to our clients’ needs. 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. Read extra information on https://www.omcgroup.com/.