Our offshore lawyers in BVI are ready to answer any questions about company formation, licensing and foreign ownership and control. Opening a company in the British Virgin Islands is a preferred option for many international investors because of the favorable regime available for offshore entities. Having specialized legal assistance during the formation and throughout the development of the business can be of importance for the success of the business.
A leading offshore center, BVI has high standards for transparency and the regulations for investors are formulated in an advantageous manner. Nonetheless, compliance is expected of all those who engage in commercial activities, whether they are onshore or offshore.
We present the services offered by our team of lawyers in BVI and we invite you to contact us if you have questions about incorporation or any legal issue related to corporate licensing and control as well as others.
•Corporate: legal guidance and counsel concerning corporate structuring, mergers and acquisitions and the conditions for BVI offshore company formation; we also advise our clients who are interested in Intellectual Property Law or Competition Law;
•Litigation: dispute resolution and litigation are an important part of our practice and we can represent our clients in BVI as needed in commercial litigation as well as trust litigation or corporate disputes;
•Finance and banking: assistance for bank account opening in BVI as well as complete information on the current banking regulations; we also advise clients who are interested in business in the financial sector and need guidance on the laws on force;
•Employment: legal assistance for drafting employment agreements, dismissals and general information on the applicable Employment Law;
•Funds in BVI: BVI is an attractive offshore and financial center and many investors require specialized guidance on the applicable laws regarding fund finance, fund listings, the role and liabilities of an investment manager as well as other issues;
•Real estate: legal assistance regarding commercial property and residential property law in the British Virgin Islands applicable to foreign nationals;
•Relocation: form a legal perspective, relocating a business to the British Virgin Islands will require a certain level of compliance; our team can help you during the BVI company set up process when relocating a business to hit jurisdiction.
We offer our services to local and international clients. Please keep in mind that these are part of our services. You can reach out to our team of lawyers in BVI for detailed information on how we can assist you as well as to schedule a legal consultation.
The BVI Business Companies Act 2004 is the most important document that governs the incorporation of businesses, the related regulations as well as the company administration procedures. Our team of lawyers who specialize in company formation can provide detailed information about this law, as well as the amendments that have been brought to it over the years.
Some of the areas covered by law with which we can assist are the following:
• Incorporation, capacity and powers: we assist those who with to know how the Companies Act governs issues such as the type of company, its registration, the matters included in the Memorandum, the amendment to the Memorandum or the Articles, the company name (restrictions, change and re-use), the capacity and powers of the company and the dealing between the legal entity and other persons;
• Shares: general information about the legal nature of stares, the classes, series, types of shares, bearer and fractional shares, changing the number of shares, issuing, transferring and distributing shares;
• Company members: legal counsel on the liability of the company members, the meetings, written resolutions, and special situations such as those in which the court calls a meeting of members;
• Company administration: the legal provisions concerning the registered office and the registered agent (and the sanctions that may apply when these are not met), the legal requirements for keeping company records and the manner in which contracts are drafted before incorporation; our team can also provide you with details about the use of the power of attorney;
• Mergers and consolidations: we provide legal interpretation for the article in the Companies Act that offers information on the manner in which a company merger or consolidation can take place in the British Virgin Islands, the arrangements and schemes of the merger as well as special details concerning the legal requirements for the merger or consolidation with a foreign company.
Do keep in mind that the information presented herein about the regulations and the act in force is only for informative purposes and cannot substitute legal counsel whatsoever. We encourage you to reach out to our professionals whenever needed.
Our dependable team of lawyers in BVI can answer any questions you may have about the legislative updates as well as information of interest in the BVI Business Companies Act. You can reach out to us if you have questions.
The laws concerning nominee directors in BVI
A special issue with which our team can assist from a legal standpoint is the use of nominee directors (and shareholders, when and as needed). Investors in the British Virgin Islands can use this service should they wish to prevent the public from knowing that they are involved with the BVI-based offshore company. This is done in order to protect one’s personal image or, in some cases, for tax minimization purposes. The main purpose of the nominee director is to provide for a high degree of confidentiality for the client.
Understanding the manner in which the relationship between the beneficial owner and the nominee influences the management of the company is important before subscribing to this type of service. Our lawyers in BVI can answer any questions investors many have about liability and tax liability should they choose to act as directors in their own name, compared to when using an appointed third-party.
The role of the nominee director is outlined in a document signed by the beneficial owner and the nominee, an agreement that can be drafted with the help of our lawyers and that will bound the nominee to a fiduciary duty towards the beneficial owner. His role can this be limited or more complex, undertaking various administrative functions, from entering into agreements to attending meetings, maintaining the business-to-business relations as well as other functions. The level of involvement will be chosen by the beneficial owner.
Our lawyers can help answer any questions about the role of the nominee as well as the option in which the beneficial owner would choose to act simply as a representative of the company. The legal implications can be discussed in more detail with our team, as well as the situation that may arise when the nominee director is confronted with a conflict of interest (when, for example, the wishes of the beneficial owner are against the best interests of the company which the director should always observe – in this case, the nominee can choose to not be involved in some cases). Our lawyers specializing in company management and director liability can give you more details.
We invite you to watch a video about our services:
Why choose the British Virgin Islands for offshore incorporation?
Offshore company formation in the British Virgin Islands is attractive for a number of reasons. Some of the most important are highlighted below by our BVI company incorporation agents:
Tax neutrality: BVI companies are not subject to income tax, corporate tax, capital gains tax or wealth tax;
Fast incorporation: the BVI company set up process is a simple one and the process is usually complete within 2 to 3 working days;
Simple maintenance: the company only requires one director and one shareholder and there is no mandatory requirement for a company secretary;
Confidentiality: the laws concerning investor confidentiality stipulate that the register of shareholders is not filed with the Registry; our lawyers in BVI can give you more details on the data that is communicated concerning the company directors.
Investors can choose to work with a team of accountants in BVI to ensure that they maintain all the needed records.
What are some details about doing business in BVI?
BVI is a leading center for offshore company formation. As per the 2019 and 2020 statistical bulletins issued by the Financial Services Commission, the following data applies for doing business in BVI:
-there were 5,596 new company incorporations in BVI in the final quarter of 2019;
-the total number of foreign companies registered as of 31 December 2019 was 63;
-5,275 new company incorporations were recorded in Q1 2020;
-the total number of business companies registered as of 31 March 2020 was 373,917.
We are a team of professional offshore lawyers in BVI who can answer any questions regarding corporate and commercial, banking, investment funds and trusts as well as private wealth or property law. We can also assist those investors who have run a company for a number of years from this jurisdiction and now qualify for British Virgin Islands residency.
Contact us if you wish to open a BVI offshore company or if you need legal representation.
Call us now at +230 5252 6703 to set up an appointment with our business consultants in the British Virgin Islands. Alternatively you can incorporate your company without traveling to the British Virgin Islands.
As a BridgeWest client, you will beneficiate from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in the British Virgin Islands.