Is BVI still a tax haven?

Is BVI still a tax haven?

A BVI offshore company pays zero income tax. There is no British Virgin Islands tax on capital gains tax, nor are there gift taxes, inheritance taxes, sales taxes, or value added taxes.

Can I open a company in British Virgin Islands?

Only 1 director and 1 shareholder are required in a BVI Company Formation, the director and shareholder can be the same person. You do not need to be resident in BVI to be a director or shareholder. A BVI Company Registration can be set up with no personal visit required. No annual accounting requirements.

Are BVI companies regulated?

The BCA regulates the incorporation and operation of all types of BVI companies, including those limited by shares, those limited by guarantee, unlimited liability companies, restricted purpose companies (also known as special purpose companies or SPVs) and segregated portfolio companies, whether their business is …

How do I find out if a company is registered in BVI?

Please contact the BVI Commercial Registry to conduct your search. Contact info: (284) 494 5355-phone or (284) 494 6331-fax.

Can Americans buy property in the BVI?

Yes, foreigners can buy property in the BVI and the Government of the BVI welcomes investment from overseas buyers. However, foreign nationals are required to apply for a Non-Belonger Land Holding Licence (NBLHL) for which there is a small fee. The NBLHL is property specific and non-transferable.

Can a British citizen move to the BVI?

You may be wondering if British citizens may move to the British Virgin Islands. While they can move to the British Virgin Islands, they must request for long-term permission to stay just like any other foreigners, even if they have a UK passport.

Do BVI companies pay tax?

The British Virgin Islands has no corporate tax, capital gains tax, wealth tax, or any other tax applicable to a British Virgin Islands company.

How do I start my own BVI business?

Here are the steps to incorporating in the British Virgin Islands:

1. Step 1: Reserve your Company Name. The first step is to reserve a company name with the BVI Registry.
2. Step 2: Appoint a Registered Agent.
3. Step 3: Open a bank account.
4. Step 4: Submit all relevant documents.

What is BVI law?

The law of the British Virgin Islands is a combination of common law and statute, and is based heavily upon English law. As a leading offshore financial centre, the territory has extremely modern statutes dealing with company law, insolvency, banking law, trust law, insurance and other related matters.

Why choose a Brunei International Business Company (IBC)?

A Brunei International Business Company (IBC) is controlled by the International Business Companies Order of 2000. Brunei’s legal system is based upon British Common Law and for their Muslims, the Islamic Shari’a Law. Brunei is a former British Protectorate gaining its independence in 1984 and is a member of the British Commonwealth.

What are the banking secrecy laws in Brunei?

Banking secrecy is provided by chapters 18 and 19 of the International Banking Order of 2000, which governs banking for non-residents. The penalties for breaking the Brunei banking secrecy are imprisonment for up to two years and a fine up to $100,000 USD.

What is Brunei’s tax policy?

Brunei is an often-overlooked offshore jurisdiction. It is a fiercely independent nation full of pride. Privacy is sacred. As a sign of that, the country has signed only a few double taxation agreements (DTA) and tax information exchange agreements (TIEA).

How hard is it to incorporate an offshore company in Brunei?

The offshore sector is not very mature, and the incorporation costs can be significantly higher than other international business company (IBC) jurisdictions. Incorporating an offshore company in Brunei can take several weeks, although I have been told it can be as quick as a week.