BVI (British Virgin Islands) Prime Minister Smith Responded to Blue Ocean Group's Proposal to Develop the Second Economy
BVI Prime Minister Dr. Orlando Smith visited Hong Kong on October 17, 2016 and held a cocktail party at SKY Lobby in Central Plaza. The British Consul General in Hong Kong, Mr. Heyn, attended and gave a welcome speech.
The British Consul General in Hong Kong, Mr. Heyn, gave a welcome speech.
Current Prime Minister Smith meets with Ms.Chris Liu, Executive Director of Blue Ocean Group.
Prime Minister Smith met with Ms.Chris Liu, Executive Director of Blue Ocean Group before starting the cocktail party. He expressed his gratitude to Blue Ocean Group for its proposal to develop the second economy of BVI and welcomed Blue Ocean Group's participation in the planning and investment attracting of BVI's Beef Island development project.
Prime Minister Smith also thanked Blue Ocean Group for its outstanding contributions to BVI over the years in BVI offshore company registration (www.hkbob.com) and offshore finance. Ms. Elise, the general representative of BVI in Asia, and entourage of Premier Smith attended the cocktail party.
The British Virgin Islands (BVI), also known as British Virgin Islands (B.V.I), is located between the Atlantic Ocean and the Caribbean Sea and covers an area of 153 square kilometers. Located at the northern end of the Leeward Islands, 100 kilometers off Puerto Rico's east coast, adjacent to the US Virgin Islands.
The BVI is one of the financial centers of the Caribbean, and the economy relies mainly on tourism and financial services. In recent years, the construction industry has developed rapidly due to innovation and expansion of the tourism industry.
The International Business Companies Act, passed by the island government in 1984, allows foreign companies to set up “offshore companies” locally and provides extremely favorable policies: locally incorporated companies are exempted from all local taxes, except for business license renewal fees each year;
company registration need only one shareholder and director, and there is no need to have local residents in the company; there is no need to declare the manager's information, and the accounts and annual reports are not required to be disclosed.
Various convenience factors make BVI an ideal “tax haven”, with 1.7 million companies registered here.
Advantages of BVI International Business Companies (BVI IBCs)
A. As one of the most popular offshore company registration sites, the British Virgin Islands has the following advantages:
(1) The island is a place where the political, economic and trading environment is very stable;
(2) Have good financial and legal policies to facilitate the establishment and development of various financial institutions or foundations;
(3) The government protects the interests of shareholders and does not need to disclose the identity of the beneficiary;
(4) The local government agrees that one person can fully own a limited company in order to encourage economic development and attract foreign investment;
(5) The government provides privacy protection for all enterprises, and the directors' information is absolutely confidential;
(6) Low tax rates. BVI international business company limited is subject to very little tax control;
(7) No need to do the auditor's report,and it is only necessary to retain the information to reflect the economic situation;
(8) There is no need to pay profits tax on the profits from operations in other places,, and the purpose of reasonable tax avoidance can be achieved in the form of triangular trade;
(9) BVI companies can open bank accounts around the world.
B. In terms of corporate governance, the British Virgin Islands also includes the following features:
(01) No need to submit annual reports or financial statements;
(02) There is no need to hold an annual director or shareholder meeting;
(03) Directors and shareholders' resolutions may be signed by telephone conference or paperwork (including fax copies), and the meeting does not need to be held in the BVI;
(04) The company does not need to appoint a local resident of the British Virgin Islands as a director;
(05) Directors may decide where to place the company’s book and minutes;
(06) Opening a bank account anywhere in the world;
(07) The company may use surplus to finance the repurchase of its own shares, which may be cancelled after the stock repurchase;
(08) The share capital may be reduced by a director or shareholder resolution without the court issuing a decree;
(09) Very few company information needs to be disclosed, and the names of stock holders and directors and managers will not appear in public files;
(10) New asset protection legislation includes allowing companies to return to other countries.
With so many advantages listed above, the key points are: offshore trade does not need to pay profit tax; the company management is simple; there is no need to disclose the identity of beneficiaries; and it is easy to open bank accounts around the world.
Please call the toll-free hotline immediately: 4008 255 128. Blue Ocean Group's account manager will provide the best solution for registering BVI companies based on your actual situation.
