Offshore Company Formation – British Virgin Islands
Economy of the British Virgin Islands
About British Virgin Islands
British Virgin Islands is also otherwise known as Virgin Islands. It is a British Overseas Territory in the Caribbean community. Virgin Islands is situated to the east of Puerto Rico and is located in the Leeward Islands, of Lesser Antilles.
Economy of British Virgin Islands
The British Virgin Islands has an economy that is considered as one of the most prosperous economies in the entire Caribbean. British Virgin Islands is a very small area having a very small population, but this island country had the 19th highest GDP per capita, in the world. This report was placed by CIA World Fact book.
The size of this territory’s GDP was measured as per the global terms and as per the purchasing capacity per capita, in the area. British Virgin Island was ranked 215th out of total 229 countries.
The economy of British Virgin Islands is based on the Twin Pillars of financial services. These Twin Pillars generate about 60% of government revenue. The other main source of economy is the tourism industry, in this Island. This tourism industry generates the balance 40% of the total revenue.
Before the year 2007-2008, when the area suffered from a financial crisis, British Virgin Islands had produced a Government Budget surplus all through. British Virgin Islands had its largest ever budget deficit of US$ 29 million, in the year 2011.
The Business Environment of British Virgin Islands has been assessed as 34th in terms of global financial centres. This is the highest ranking of any off shore financial centre, and of any Latin American country.
The G-20 group of countries consider British Virgin Islands as a Tax Heaven, by describing its banking system as Opaque.
The Tourism Industry showed an influx of 922,372 tourists in the year 2015. Most of them were from the United States.
The Agriculture Industry has rising of Livestock as its main activity.
Economy of British Virgin Island is slowly coming back to normal.
Why form an offshore company in British Virgin Islands?
British Virgin Islands have always been famous for investors for saving taxes. Apart from providing luxurious infrastructure, beaches, cheap labour cost, it is also provides lucrative tax saving options. The latest legislation ensures that all domestic as well as international businesses end up paying zero income tax, capital gains tax, estate and inheritance tax. Company formation is also pretty easy as it takes only about 24 to 48 hours. Apart from this, you also have 100% confidentiality and anonymity clause which ensures that the name of directors and shareholders are not revealed.
Basic Incorporation Package
Form your offshore company anywhere in the world within a week. No hidden price, no extra charges
With this package, we will provide you with a compulsory registered office address and dedicated account manager to handle all your queries. Also all the compulsory government fees would be paid up when the incorporation process takes place.
In addition to this, we will provide you with the documents necessary to incorporate a company – certificate of incorporation, appointment of directors, share certificates, company seal memorandum and articles of association.
Advanced Incorporation Package
This package will also include banking solutions and assure full confidentiality of your identity in addition to the full services of our Basic Incorporation Package.
We will provide you with a bank account and also with professional resident director and resident shareholder. This will help you in case you do not want your names to be displayed publicly. The Nominee director will act on your behalf by signing contracts, MoU’s and other documents related to your business.
All these will be provided in addition to company incorporation, registered address and other services included in the Basic Incorporation Package.
Professional Backed Package
This package will take care of the ever changing intergovernmental agreements which are being exercised by most of the countries.
More and more countries are signing up to international trade agreements which means more robust process. The benefit of our package is that it will facilitate your business through the help of qualified accountants, directors, international lawyers, tax advisors and investment advisors. It will ensure that your business runs smoothly and with full privacy and confidentiality.
Customize as per your requirements – whenever and wherever required.
Select what all services you require in what all jurisdiction. You can upgrade the services anytime you want. Choose from a wide range of professional services in addition to the type of company and bank account you want to set up. With the ever changing laws, you can ask our domain experts to guide you through the right direction.
Benefits of Forming an Offshore Company in British Virgin Islands
- 0% tax on income, capital and corporate
- Zero sales tax
- 24x7 banking support
- Availability of Shelf Company
- Multiple currencies are used
- Local member not required for the position of Director
- Incorporate a company within 48 hours
- Filing annual returns not required
- Require only one director and one shareholder
- Your records cannot be accessed by public for information
- No audit requirement
- Exemption from taxes for domestic and international companies