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How to Set up a BVI Company

How to Set up a BVI Company | Bestar
How to Set up a BVI Company | Bestar

How to Set up a BVI Company

Here's a general overview of how to set up a BVI company while being located in Hong Kong:

1. Choose a Business Structure and Name:

  • Decide if you need a basic Business Company (BC) or a more complex structure.

  • Check for BVI company name availability (government website or agent).

2. Appoint a Registered Agent:

  • BVI requires a registered agent with a local address for your company.

  • Many Hong Kong-based companies offer this service.

3. Prepare Incorporation Documents:

  • You'll need ID and address proof for directors and shareholders (possibly utility bills/bank statements).

  • Prepare company Memorandum and Articles of Association (consult a lawyer or agent for specifics).

4. Submit Documents and Pay Fees:

  • Work with your chosen agent to submit documents to the BVI Registrar.

  • There are government fees associated with registration.

5. Open a Corporate Bank Account (Optional):

  • While not mandatory, a corporate bank account can be helpful for business transactions.

  • Requirements for opening an account can vary depending on the bank.

Additional Considerations:

  • Nominee directors and shareholders are allowed for increased privacy (consult an agent for details).

  • Hong Kong itself has a separate company registration process if you plan to operate locally.

How Much does it Cost to Set up a Company in BVI

The cost to set up a BVI company can be broken down into two main categories:

  • Government Registration Fees:

  • These depend on your authorized share capital (the maximum number of shares your company can issue).

  • For companies with up to 50,000 shares, the fee is around US$550.

  • For companies exceeding 50,000 shares, the fee jumps to US$1,350.

  • Registered Agent Fees:

  • This covers the services of a BVI-based registered agent who provides a local address for your company.

  • These fees typically range from US$500 to US$1,000 annually.

Additional Costs (Optional):

  • Nominee Services: You can opt for nominee directors or shareholders for privacy, which comes with additional fees.

  • Bank Account Setup: Opening a corporate bank account is not mandatory but incurs its own set of fees depending on the bank.

  • Legal and Professional Fees: Consulting a lawyer or agent for assistance with the process may involve additional charges.

General Range:

While the exact cost can vary, expect to pay somewhere between US$1,050 and US$2,350 for the initial BVI company setup, excluding additional services like nominee directors or a bank account.

How Bestar can Help

Bestar can be a valuable asset when setting up a BVI company, especially for those unfamiliar with the process or BVI regulations. Here's how we can provide specific guidance and assistance:

Streamlining the Process:

  • Expertise: We have experience navigating the BVI company formation process and can handle all the paperwork and filings for you.

  • Efficiency: We can save you time and effort by ensuring all documents are filled out correctly and submitted to the BVI Registrar efficiently.

Meeting BVI Requirements:

  • Compliance: We stay updated on BVI regulations and ensure your company structure and documents adhere to all legal requirements.

  • Avoiding Delays: We can identify potential issues early on to prevent delays or hiccups during registration.

Additional Services:

  • Company Structure Selection: We can advise you on the most suitable company structure (Business Company, etc.) based on your business goals.

  • Nominee Services:  If you desire increased privacy, we can help set up nominee directors or shareholders (local regulations permitting).

  • Bank Account Assistance: We have connections with banks and facilitate the opening of a corporate bank account for your BVI company.

Communication and Support:

  • Language and Time Zone:  Bestar can bridge the communication gap, especially if dealing directly with BVI authorities is challenging due to language or time zone differences.

  • Ongoing Support: We can offer ongoing support and answer any questions you may have after your company is established.

Overall Benefits:

Using a Hong Kong-based Bestar provides peace of mind knowing a professional is handling the legalities and ensuring a smooth BVI company setup process. This allows you to focus on your core business activities.

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