Register a British Virgin Islands company with a corporate account in HK. All arrangements can be made remotely. Our experts recommend the payment system in Hong Kong which is ideal for small and medium-sized corporations. We can help you with the incorporation chores and the account set-up so that you could quickly launch offshore business operations.
The Reputation of the British Virgin Islands Company Incorporation
About 40% of offshore companies are registered in the British Virgin Islands. This number is steadily growing, despite the global upheavals and the industry transformations.
The popularity of this jurisdiction of company incorporation is the best proof of its most friendly environment for the formation of your successful offshore entity. It offers the following incentives:
Zero-tax on corporate income;
No taxes on capital gains, gifts, inheritance, sale, no VAT;
Excellent reputation and information transfer agreements;
Participation of the BVI in the Organization for Economic Cooperation and Development (OECD), the International Organization of Securities Commissions (IOSCO), the Caribbean Financial Action Task Force (CFATF);
Developed legislation and opportunities for doing business, creating funds, and registration of vehicles and aircraft;
Availability of international banks’ services;
Opportunities for international business development.
Over recent years, the British Virgin Islands legislation has been greatly upgraded in terms of compliance with the stipulations of international organizations. For example, some companies, such as banks, holdings, insurance, etc., are obliged to meet the economic substance requirements, i.e. to establish a local office and recruit local employees.
By and large, the British Virgin Islands remains a country with flexible legislation and ample opportunities for business development.
The Rules of the British Virgin Islands Company Formation
When registering in the BVI a limited liability company (the most popular legal structure type) it is necessary to indicate in its name one of the following abbreviations: “Ltd”, “Corp”, “Inc” or “S.A.” or “Societe Anonyme”, “Sociedad Anonima”, “Corporation”, “Limited” or “Incorporated”.
If the company has unlimited liability, you need to add “Unlimited” or “Unltd” in its name.
It is also allowed to use numbers instead of letters.
The owners of the company can be non-residents.
The authorized capital must be declared, but most often is not paid.
There may be only one director of a BVI company.
The application portfolio needed for the registration includes the following documents:
- Certified copies of passports of the beneficial owner and the director;
- Proof of residence address of the beneficial owner and the legal owner.
The Costs of the British Virgin Islands Company Registration And Maintenance
The fee for the BVI company setup services starts from USD 2,250. In includes the following deliverables:
- A registered Company;
- The BVI state duties paid;
- Articles of Incorporation/Memorandum;
- Minutes and the letter of appointment of the Director;
- A Written Resolution of the Director;
- Registers of directors, shareholders;
- The share certificate.
The fee for fast-track opening of a corporate account with a payment system in Hong Kong (within 8 business days) for your BVI company starts from USD 2,950. It includes the expedited preparation of notarized copies of all relevant documents.
The annual company renewal fee is USD 2,250.
A company seal is a mandatory requirement. You can order it from us or make it yourself.
The BVI allows nominee services, and they are available locally.
You are welcome to contact us for details and assistance in contracting reliable professionals.
The Likely Extra Costs of Your British Virgin Islands Company Registration and Maintenance
Extra Costs
A set of notarized copies of documents USD 700 A set of notarized and Apostilled copies of documents USD 1,000 Issuance of additional power of attorney (notarized and Apostilled) USD 650 Seal USD 180 Certificate of Authority (without apostille, certified by the Registered Agent) USD 450 Certificate of Authority (notarized and Apostilled) USD 700 Certificate of Good standing – the original copy (not Apostilled) USD 400 Certificate of Good standing – the original copy (Apostilled) USD 700 Customized standard Minutes or resolutions of meetings USD 400 Preparation and completion of the Register of Directors and the Register USD 800 Updates of the Registers USD 250 Issuance of share certificate (price per share) USD 75 Certification by the registered agent USD 150 Notary certification USD 250 Apostille USD 350 Worldwide courier services USD 200 Company Search report USD 550 Company liquidation (paperwork) USD 1,900 Company liquidation (a liquidator’s functions if the company is non-insolvent), Declaration of Receipts and Payments USD 2,400 Company’s name change (in a new M & A) USD 1,000 Registered Agent replacement – Transfer Out USD 800 Registered Agent replacement – Transfer In USD 500 Company renewal after it was struck off from the Registrar POA Legal opinion POA Financial report (up to 40 transactions a year) USD 2,400 Financial report (41-150 transactions a year) USD 4,500 Financial report (over 150 transactions a year) POA
Complete Virtual office package
Mail forwarding services, a dedicated phone line, and fax forwarding services all in one.from USD 400 a month
The hereby rates are in USD and are payable in advance. The rates are quoted for standard services and are subject to change depending on government fees, inflation, and demand for the service.
Corporate Accounts with a Payment System In Hong Kong
All offshore companies face certain challenges in opening accounts, both in the country of incorporation and abroad, especially when it comes to small and medium-sized businesses with no history.
A modern payment system in Hong Kong comes to the rescue, offering services to companies both in and outside of the Hong Kong Special Administrative Region.
The payment system opens accounts for companies from Hong Kong, Singapore, and the British Virgin Islands.
Specifics of the recommended Hong Kong payment system:
Multicurrency accounts, including USD, EUR, HKD, GBP, CHF, CAD, other currencies;
Remote opening of the account;
Fast due diligence;
Unique account numbers for single-currency accounts;
Favorable currency exchange.
The Documents Required for Opening an Account in HK with a Payment System
- Certificate of Incorporation of your company in the BVI;
- Copies of directors’ passports
- Copies of the owners’ passports.
You will also need to submit a brief outline of your business activities and the company structure.
The Restrictions Set by the Payment System regarding the Use of an Account in HK
The payment system has 2 types of restrictions – by country and by activity type.
Countries where funds withdrawal is banned:
- Afghanistan
- Belarus
- Bosnia and Herzegovina
- Burundi
- The Central African Republic
- Crimea
- Eritrea
- Cuba
- Guinea
- Guinea-Bissau
- Iran
- Iraq
- Lebanon
- Libya
- Mali
- North Korea
- North Sudan
- Russia
- Somalia
- South Sudan
- Syria
- Ukraine
- Venezuela
- Yemen
- Zimbabwe.
Business activities banned:
- Cryptocurrency trading;
- Anonymous accounts, Shell banking;
- Check cashing;
- Money Transfers;
- Debt restructuring;
- Financial pyramids;
- Gambling business;
- Payment systems without prior approval;
- Any activity deemed illegal in Hong Kong or the UK;
- Sale of illegal drugs and substances;
- Trade in stolen goods, counterfeit goods;
- Trade in dangerous goods (cigarettes, e-cigarettes, etc.);
- Businesses that require a license and are operating without one;
- Creation of adult or violent content;
- Creating and distributing weapons, ammunition, etc.;
- Trafficking in human organs;
- Working with sanctioned individuals.
The Cost of Opening an Account in HK
The cost of the account opening service starts from EUR 2,999. The procedure is performed remotely. If the business has a complex structure or is engaged in specific activities, the payment system charges an additional fee for consideration of the application.
The Procedure: How to Register a British Virgin Islands Company with an Account in HK
Please send a message to InternationalWealth.info experts about your wish to register an offshore company in the BVI and open an account in Hong Kong.
Discuss your detailed plans with our experts and make sure that the recommended solution is right for you. Please note that the payment system is best suited to small and medium-sized businesses.
Pay the set-up fee starting from 4899 EUR.
Submit the documents.
After we receive your payment and documents, we will make all necessary arrangements for the company registration and an account set-up. You do not need to travel, everything will be done remotely for you.
You get access to the company and the account and can start the business operations.
For any further information, advice, services you are welcome to contact us at the e-address given at the top of this page.
