Incorporation of British Virgin Islands (Offshore) Company
The International Business Companies Act, 1984
The International Business Companies Act of 1984 provides for the incorporation and administration of the International Business Company. Companies incorporated under the Ordinance enjoy a complete exemption from income tax. This includes an exemption from capital gains tax, and all forms of withholding tax. There is no exchange control.
We have shelf International Business Companies immediately available from each of its offices. Alternatively, an International Business Company can be incorporated upon receipt of completed questionnaire.
The International Business Companies Ordinance of 1984 provides an environment of administrative ease and flexibility. Specifically:-There is no requirement to file annual returns or financial statements;
There is no requirement to hold annual meetings of directors or shareholders;
Directors and shareholders resolutions may be passed by telephone meetings or by circulating written resolutions (including facsimile copies) for signing, meetings need not be held in the British Virgin Islands;
A company need not have British Virgin Island resident directors;
The books and records of the company may be kept at such place as the directors determine;
Bank accounts may be opened anywhere in the world;
A company may finance or repurchase its own shares out of surplus. Repurchase shares may be cancelled;
Reductions of capital can be affected by resolutions of the directors or shareholders. There is no necessity for a court order;
There are minimal disclosure requirements and the ownership of shares and the names of directors and officers are not available on the public record;
There are modern asset protection provisions including the ability to transfer a company to another jurisdiction
Incorporation of Seychelles (Offshore) Company
The International Business Companies Act, 1994
The International Business Companies Act 1994 is the most widely used vehicle for offshore operations in the Seychelles. It normally takes the form of a private company limited by shares.
The legal system of the Seychelles is based on English Common Law and French Civil Law. Statutory requirement are minimal and flexible:-
1. There is no minimum capital requirement;
2. Shares may be registered and issued in any currency;
3. Shares are issued in Registered form only;
4. Bearer shares are no longer permitted;
5. Only one director and one shareholder are required (can be same person)
6. Shareholder, directors and officers need not be resident in the Seychelles;
7. Directors and shareholders may be natural persons or corporate entities;
8. No returns are needed of shareholders and directors;
9. The Certificate of Incorporation and Memorandum and Articles of Association are the only documents to be held on the public record if no is filing done.
Seychelles International Business companies are exempted from all taxes on income derived outside of the Seychelles.
Our fees (excluding disbursements) for formation / renewal of a Seychelles company are as follows:-