BVI records the most prosperous economy in the Caribbean region with the monthly average income of a worker being US$2,452 according to the 2010 census data.
the economic prosperity coupled with the unique natural beauty of the region has resulted in financial services and tourism being the two main important aspects of the BVI economy.
This vibrant economy along with the friendly tax system has turned BVI a favourite place for offshore investment in financial services.
In fact, 51.8% of the government revenues in BVI come from the license fees of the offshore companies.You can make good use of the friendly business environment of BVI if you go for a BVI Company Formation.
However, for a company formation, you need to hire professional corporate services so that you get easy approval by making compliance with the entire regulatory framework.The Corporate ServicesHere is the list of services offered by corporate services for BVI Company Formation so that your company can ensure full compliance and get easy approval.IncorporationIncorporation of BVI Companies and Limited PartnershipsProper maintenance of company documents like share registers, director registers, and officer registersProperly preparing resolutions and other corporate documentation following corporate law and statutory regulationsEffective maintenance of books and other important recordsAttending to the necessary filing with the Registry of Corporate Affairs regarding (1) Name Changes, Amendments to Memorandum and Articles of Association, (2) Changes in shareholders, directors or officers, (3) variations in authorized capital, (4) Drafting Charges or their release and their registration, (5) routine company secretarial procedures, (6) Special structured Articles and MemorandumPreparing documentsLimited PartnershipIn this mode of investment normally a BVI company is collaborated with to limit the liabilityThe company must have a general partnerThe limited partnership can be with or without a legal personalityCompaniesAny stated currency can be used to purchase the shareHowever, BVI companies can have a greater number of the share; in fact, an unlimited number of a share if paid the extra registry chargesHowever, the shares may belong to different class or seriesThe Fund ServicesFinancial services are one of the most profitable businesses in BVI.
Opening a company for financial services needs professional assistance of the fund services.Approved and Incubator FundsThe Approved and Incubator Regulations of 2015 offer a flexible and fast approach to perform financial servicesQualified entities are exempt from the Regulatory Code and do not require SIBA licensingIf the application is complete and the person is qualified, the applications are processed within two business daysApproved FundsLimited to a maximum amount of One Hundred Million US Dollar (USD100,000,000.00) and twenty investorsA regulated administrator is requiredIncubator FundsIncubator Funds are limited to 2 years (However, an extra year may be applied for)Twenty Million US Dollar (USD20,000,000.00) investment value and do not require an administratorAudit is desired, but not necessaryA fund representative is needed at the applicationLast WordsSo, you have by the course of the article understood the necessity and relevance of the professional corporate services and fund services for your BVI Company Formation.