BVI company registration is a simple process and can be done remotely in Malaysia without being physically present in BVI. The British Virgin Islands (BVI) is a semi-autonomous territory that is situated in the Caribbean Sea, around 80 kilometers off the coast of Puerto Rico. British Virgin Island (BVI) is a well-known destination for individuals and firms who want to set up an offshore presence, especially for the formation of corporate trusts, offshore companies, and registered companies in BVI.
The BVI has more than 500,000 foreign companies registered in its area and as such it is a jurisdiction that has a stable and predictable legal system that is monitored by the United Kingdom. This zone is a trusted and proven trading hub.
On top of that, the BVI provides a degree of autonomy that businesses can use to benefit from the BVI legal system and at the same time to structure their operations in a way that is more in line with their specific needs and requirements. The BVI has a good reputation for the incorporation of companies and comparatively favorable corporate tax regulations, making it a preferred destination for businesses seeking tax efficiency and security.
If you are interested in BVI company registration service yet have other questions, please feel free to contact us at [email protected]
Overview
Why Malaysian Should Set Up BVI company?
Among the offshore jurisdictions, the British Virgin Islands (BVI) is the one which is most popular due to the fact that it has political stability, a robust legal system and a tax efficient regime. We shall see how these elements converge to create an environment that breeds trust, and is the best platform for the businesses.
Leverage on BVI Company Tax Optimization for Malaysian Companies and Individuals
For Malaysian companies, A BVI company can be utilized to offshore assets such as intellectual property, trademarks, or real estate. It enables participation in international trade without incurring local taxes, minimizes taxes in structuring cross-border deals, and facilitates tax-deductible contractual relationships or joint ventures with other corporations.
For Malaysian individuals, a BVI company can serve as a vehicle to invest in offshore opportunities like stocks, bonds, or mutual funds. It allows for income generated outside of the BVI to be tax-free. Additionally, it enables the establishment of a BVI Trust for financial planning purposes for individuals, families, and companies. Moreover, it provides a means to safeguard assets against creditors and lawsuits.
Benefits for Malaysian Incorporation of BVI Company
Malaysian companies can reap numerous benefits by establishing their businesses in the BVI, including:
1. Crypto-Friendly
The British Virgin Islands (BVI) has become a preferred country for crypto funds and initial coin offerings and FinTech activities. The BVI has created a regulatory sandbox to provide opportunities for BVI companies and other ventures to experiment with innovative financial technology in a minimal regulatory environment.
2. Reputable
The British Virgin Islands has been never placed on a list of territories which are banned for creation of offshore entities by the Financial Action Task Force (FATF) on money laundering, or the Organization for Economic Cooperation and Development (OECD).
This means that the British Virgin Islands have been known as operationally “white” (clean) for a long time by the international finance watchdogs. It provides for a secured and safe environment that is good for BVI company formation.
3. Confidentiality
As a general rule, only the company, its registered agent or any person duly authorised in writing by the company shall have the right to access the company’s registers.Though registered with the Registrar, unless the company elects to make the register of directors available on the public record, it will be confidential and not available for public inspection except upon the order of the High Court or a competent authority.
4. Flexibility
BVI offers a flexible corporate structure, allowing companies to incorporate various share classes and voting structures. This flexibility empowers Malaysian companies to structure their business to best suit their needs.
5. Ease of Doing Business
The BVI offers a simple process for business incorporation and registration within the jurisdiction hence making it a convenient environment to do business.
6. Tax Benefits
The law of the British Virgin Islands does not require BVI companies to pay corporation tax or income tax. A BVI company is exempt from income, capital gains and withholding taxes in British Virgin Islands.
7. Asset Protection
BVI companies can serve as a vehicle for asset protection, because the BVI has strong laws which protect both the assets of companies and their shareholders from their creditors.
Incorporating in BVI for Tax Exemption: Step-by-Step Process
Step 1: Reserve your company name
Firstly, a company has to have a unique name registered by the Registry in the BVI. The company name should be unique and not similar to any name for a company that is currently registered in the BVI.
Step 2: Appoint a Registered Agent
The registered agent needs to be appointed to comply with the requirements of the BVI government for company registration in the BVI.
Step 3: Submit all necessary paperwork
You will also need to prepare the Articles of Association and submit it to the registered agent to register your company and provide information about the company’s director.
The next step is to go to the Companies Registry with the prepared documents for verification. Now that you have the approvals, try to find out whether there are certain licenses you need to obtain before you can commence your business legally. The process of filing usually takes up to 48 hours.
Step 4: Open a bank account
Before commencing any business transaction, the business must have a bank account open. On the one hand, it is necessary to ensure that all the procedures are done beforehand before creating the company documents. In BVI, there are many well-known banks that have global reach, state-of-the-art security arrangements, optimum fund accessibility and customer service designed specifically for businesses.
How EMGC Can Help?
Discover our extensive range of services crafted to simplify the establishment and administration of your BVI company:
Company Secretary: The company secretary team that is staffed with specialists provides localized services, which ensures the entire compliance support is offered to your BVI operations.
Blockchain Transaction Advisory: Get your BVI business started with blockchain through our services, ranging from Blockchain Accounting and Transaction Advisory.
Tax Planning: Offer tax optimization for offshore IBC. We give companies the ability to optimize their taxes and remain compliant with the latest tax legislation.
Accounting & Bookkeeping: Leverage the cloud-based accounting software for real-time and accurate bookkeeping and financial reporting to meet regulatory requirements.
Compliance Solutions: Keep updated with our regulations team and their continuous support of your business by providing solutions specific to your business requirements.
