The British Virgin Islands was fairly unknown until it got savvy with offshore legislation that made Offshore Company Formation lucrative and much sought after. This archipelago has come from far, what with their current massive investments in their offshore banking institutions and the tight but flexible legislation that have made many investors come in the country in droves. For those who care to form offshore companies in this country, they will be keen to sample the following information:
As earlier rendered, this country and countries like Seychelles and Belize have legislation that accommodates the budding international investor. For BVI for instance, since the introduction of a legal frame work in 1984, the country’s laws have grown and amended to the current form that took into consideration the unique business needs of the budding industry. This was important because while it is important to keep the law and avoid unscrupulous businesses, it is also in the same token necessary to attract investment in your country or territory. Offshore Company Formation in such a country therefore becomes both secure and easy, a blessed business combination, so to speak.
Offshore Company Formation will definitely demand incorporation. The moment you register your IBC one would need a speedy registration process. Once one needs incorporation, in the same vein, speed is of essence. BVI’s incorporation only takes 3 weeks. This means that an investor will begin getting down to business in record time and what this will mean is the profits will also begin getting in on time.
Even the company structure is fairly simple requiring only few directors, the same directors may also be shareholders among other sweet speaking options. However, Due Diligence, that demands that all client information be given before Offshore Company Formation, is strictly followed. This is to ensure that all the secured channels are followed with all diligence and safety.
Privacy and Confidentiality
Even after the Offshore Company Formation is done, names and other personal information will not be given out at all cost except when demanded by a court of law. A court of law that in itself must have taken all measures necessary to avoid the seeking of the personal information. Privacy and confidentiality are basically sacred and supreme codes in the business world and as a result are not to be bandied about like cheap liquor. Even the offshore company records are not to be forcibly shared with the government.
The IBC Act of 1984 requires that all Offshore Companies be exempted from taxation for up to an elapsed period of 20 years from the point of formation. This means that the profits that are garnered within that specified period belongs to the owners and shareholders of the company without government cuts. Who wouldn’t want to invest in IBC’s in the near future with such a tax exemption?
While Offshore Company Formation in this country and others like it, as earlier mentioned, is lucrative and simple, the experience is more poignant when you consider also that they are very secure and functional too.