British Virgin Islands (BVI) Corporation
Quotation
Authorized capital of BVI company is USD 50,000(5/1,000 of authorized capital for stamp duty is a must if the capital is more than USD 50,000);
The fee to establish an BVI company is RMB 10,000, Pay 60% of the quotation above mentioned as down payment and balance the rest when finish the work.
Including
1) the company’s annual fee of the first year, the fee of document delivery, agency for registration and registration address; excluding the data for open bank account
2) Excluding the certificate of lncumbency. If need, pay another USD 180.
3) It will cost USD 300 to give a Chinese name
4) Excluding certificate of incumbency, which is needed while opening a bank account. It will cost USD 180 to get it.
The data provided by the client:
1) company’s name (must have English name and may have Chinese name);
2) copy of ID card or passport of all shareholders
Procedure
Commission → Signing an Agreement →Payment →handle procedures →sign the legal document by the director himself
The data after the establishment of the company:
1. Incorporation certificate
2. Articles of Incorporation
3. board director meeting record
4. One seal for signature, one steel seal
5. A set of data about shareholder, director and secretary
6. Share certificate
Processing time
New company needs 10-12 working days while buying-in a ready-made company for 2 working days (excluding delivery time).
Open bank account
After getting the company’s entity, you can open a bank account. It is asked to run by a director of the company himself. Of course, we will get everything down first, like: Bank Recommendation, prepare meeting record, <Application for opening bank account>, introducing the broker, person specially assigned to the bank for assisting to open the bank account. It is USD 300 for BVI harbor bank account.
The fee for registration and maintenance
If the registered capital is less than USD 50,000 or equal to USD 50,000, it is asked to pay RMB 7000 per year for maintenance. (including the fee for government license tax fee, agency services and registration address).
If the registration capital is more than USD 50,000, the government will levy some tax.
Note: when open a bank account for BVI company, new company registered within one calendar year should show the certificate of incumbency to the bank.
On the other hand, company older than one year should show both the certificate of incumbency and the certificate of good standing to the band.
The client should arrive BVI to settle it by himself.
In addition, the bank will ask the client to show a duplicate copy of registration document signed by the accountants or lawyers, which can be done by our company after paying relevant expense.
BVI local government has declare that the local registered company doesn’t need to pay any tax when it doesn’t operate in local place.
BVI company annual review
Register between January and June, do the annual review before 30th April
Register between July and December, do the annual review before 30th October. |
