It is a well-known fact that the British Virgin Islands has positioned itself as one of the most favourable locations when it comes to offshore business incorporation. High-end confidentiality, tax exemption proceedings have been turned out to be core dimensions that have established the ground as a profitable offshore investment destination.
Now, it turns out to be much easier for a foreign investor to opt for a ready-made office rather than registering and hunting for a commercial premise. Understanding this need, the British Virgin Islands (BVI) provides the flexibility to the business investor to proceed with the shelf company. This guide will highlight the essentials that one needs to know before investing in BVI.
What is a Shelf Company?
A shelf company is a ready-made business entity that has been registered but doesn’t carry out business activities. These companies are already registered or are available for immediate registration/ purchase. An older shelf company would hold a higher increased value as compared to a new one. It is highly recommended to buy a shelf company along with a bank account as that turns out to profitable for the business investors. Some of the core reasons for opting for a Shelf Company are:
● Saves time as the incorporation can be done at a faster pace
● Skip the tedious company registration process
● Flexibility to use the earlier company name
● Ideal for proceeding with bank loans and credits
What is the Process to Buy a Shelf Company in the British Virgin Islands?
The registration process of a shelf company in the BVI includes the following steps:
- Choose a professional business consultant: It is preferred to proceed ahead with certified business experts. Certified professionals like Business Setup Worldwide can help you to deal with the process smoothly.
- Assigning of an advisor: Once you approach or team, an advisor will be assigned accordingly who will take care of the required essentials.
- Submission of documents: When it comes to documentation, it is to be noted that the documents of a shelf company are not certified by any Notary or legalized by Apostille.
The documents mentioned above need to be handed over to the assigned business advisor.
- Approval and incorporation: Once submitted, the documents undergo the verification process.
- Registration: After the documents have been verified, the registration of the same takes place in the Registrar of Companies.
- Bank Account: Once verified and approved, you can proceed with the bank account process. To know more, you can read our latest guide on the top ten benefits of an offshore bank account in BVI.
Investing in the shelf company in the British Virgin Islands (BVI) is widely opted by foreign investors. Some of the core reasons that provoke foreign investors to invest are:
● No residency restrictions
● Investments in different domains like:
o Trading company
o Investment company
o Professional service company
o Holding company
o Copyright
o Parent-holding company
The British Virgin Islands is one of the booming destinations for offshore investment. Here are the top ten benefits of starting a business in BVI.
While proceeding towards the purchase of a shelf company, it is recommended to proceed with expert’s advice as due diligence is a mandate. By proceeding with an expert’s help, one can gain the following benefits:
● The legal proceedings get sorted
● The complete incorporation process gets completed at a faster pace
● Experts are well-versed with the market scenario
● The available resources can be utilized in an effective way
Here’s a guide on how a business consultant can help you to start an offshore business in BVI.
