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Company formation British Virgin Islands
The British Virgin Islands refers to an archipelago of about 60 islands east of Puerto Rico in the Central Caribbean. However, only 10 islands are inhabited with about 21,000 inhabitants. Road Town, the capital with about 9,000 inhabitants forms the seat of government of the British Crown Colony. Therefore, the national parish is English. The US dollar is the universal means of payment.
International Business Company (IBC) based in the British Virgin Islands
The British Virgin Islands, also known as British Virgin Islands, is one of the most popular countries for offshore start-ups. The country is characterized by political and economic stability and is often used by investors as a tax haven. Establishing a company requires only a minimum of administrative work and is feasible even with low start-up costs. Furthermore, the entry in the company register is done quickly.
Contact us now!
To avoid mistakes as you set up your new company, it is essential to seek advice. We would be happy to provide you with the best advice on how to set up your company abroad. We are offering you a short, intial, free and non-binding consultation via email. It will go a long to way to help you setup your company the right way.
Tatjana Lintner
Key account manager at W-V Law Firm LLP
Tatjana Lintner
Key account manager bei W-V Law Firm LLP
Double taxation agreements:
The double taxation agreement exists with Denmark, Norway, Sweden, Switzerland and Japan.
The biggest advantages of the British Virgin Islands
- - Cheap start-up costs
- - No mandatory minimum capital
- - Fast registration in the company register
- - Protection of assets by limitation of liability to the (low) share capital
- - Tax incentives
- - Tax exemption of your company as long as there are no transactions in the British Virgin Islands
- - No exchange control
- - Disclosure of financial statements or balance sheets
The biggest mistakes when starting a company abroad
Not all topics related to founding a company abroad are always free of prejudices and false information that have prevailed over the years. We give you an overview of the most important questions about founding a company abroad.
Founding a company abroad as a citizen of another country is legal?
Founding a company abroad as a citizen of another country is legal?
Yes, in most countries foreigners can be sole shareholder of a local entity.
Do you have to live in the country where you start a company?
Do you have to live in the country where you start a company?
No you can set up a company anywhere in the world, as long as the country in question allows you, as a foreigner, to acquire shares in local companies. If this is not the case, trustees can be used. Freedom of establishment applies within the European Union. However, it is important that the management takes place locally, in the country in which the company is registered. In addition, a permanent establishment must be set up. Without this, a German tax office will not recognize the company and, in the worst case, would demand back payment of corporate and trade taxes plus late payment penalties. We rent you a real office and set up a permanent establishment that meets all requirements without a doubt. In addition, we have real managing directors who run companies in the home country and are resident there.
Problematic law firms: closure is made more difficult
Problematic law firms: closure is made more difficult
Some law firms tie clients with gag contracts and apply pressure when the client wants to close their business. If you are a client of a law firm that has set up a legally unsound company for you, you make yourself vulnerable to blackmail. Because in the event of a tax problem, law firms without a license are not bound by a duty of confidentiality.
Changing offices is made more difficult
Changing offices is made more difficult
We receive many inquiries from customers who already own a foreign company and are looking for a new law firm. Switching to us is then often made more difficult. So horrendous final bills are made, which have to be paid before a change is possible. Therefore we have developed a trust principle. If you are not satisfied with us and want to switch, you can do so at any time. You will receive the necessary documents (resignation letter) from us in a standardized form after the foundation. This protects you from unexpected costs and you are free to go to another law firm at any time. So far we have not lost a client to another law firm.
Privacy Policy/Office Location
Privacy Policy/Office Location
Your accounting documents are safe with us. In addition, all electronic data is only stored in encrypted form and apart from us, who are bound by professional secrecy, no one has access. All accounting documents are also only stored locally. Neither authorities nor hackers can access this data.
No taxes?
No taxes?
There are certainly locations in the world that do not charge any taxes to companies and private individuals or only charge a very low flat-rate tax. However, this can rarely be used without a corresponding change of residence. If you are resident in Germany, the relevant double taxation agreement is decisive. Providers who promise otherwise will tempt you into tax evasion, which is usually severely punished if discovered. We advise you not to set up companies in countries that have already been blacklisted by the OECD. The foundation is usually very cheap, but the tax consequences in Germany can be devastating. Since the introduction of the automatic exchange of information between almost all major countries, an anonymous account or company no longer exists.
We comply with the following code:
- - Legally secure foundations
- - No unexpected(hidden) costs
- - No false promises
- - Finding the right solution by focusing on your requirements
With this strategy, we have been on the market since 2013 and have not disappointed any customer so far. And we prioritize it in keeping that way. We strive to ensure that every client is satisfied and does not take risks with the solutions we provide for them, but only exploits legal opportunities. Starting a company that involves doing real business is more costly than a letterbox company, but it is the only way to save on taxes without risking legal action.
Rules for an offshore company in the British Virgin Islands
- - Company headquarters must be in the British Virgin Islands
- - Company director does not necessarily have to be a local resident
- - Company name must be used in Latin script
Restrictions in the field of activity
Not permitted are insurance, fund or asset management and banking. Furthermore, the company may not advertise or otherwise promote stock sales. Also, no registered offices in the British Virgin Islands may be offered.
Request a free consultation now!
We can give you advise on choosing right jurisdiction for your business. Contact us today.
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Tax burden in comparison
Erfahren Sie anhand dieser Beispielzahlen wie hoch der Unterschied in der Besteuerung einer deutschen GmbH zu einer Onshore Gesellschaft und einer Offshore Gesellschaft auf den British Virgin Islands ist.
| Belgian Limited (SPRL/BVBA) | Malta Limited (Ltd.) | Onshore companies | |
|---|---|---|---|
| Profit | 100,000 EUR | 100,000 EUR | 100,000 EUR |
| Corporate tax | 33% including. surcharge tax rate 3% Totally 36,000 EUR(36%) | 5,000* EUR (5%) Effectively reduced from 35% | 15.000 EUR (15%) |
| Profit after taxes | 64,000 EUR | 95,000 EUR | 85,000 EUR |
| Key advantages | Strong economy, highly reputed country | Stable and growing economy, high anonymity, low start-up capital | Stable and growing economy, high anonymity, low start-up capital |
| Tax burden | 36,000 EUR | 5.000 EUR | 15.000 EUR |
Founding a company - That's how it works
Establishing a company in the British Virgin Islands is easy and the founder does not have to travel there. For the foundation only a certified ID or passport copy and a power bill is needed. Depending on the choice of bank also a short CV or bank reference.
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Schedule a Consultation
We would be happy to advise you by telephone or email as part of a non-binding initial consultation. Please describe your request as precisely as possible and the responsible contact person will Request a free quote! with you as soon as possible.
Fabian Wilk
Member at W & V Law Firm LLP
+44. 208 089 1423-10 069. 247563060For callers from Germany (landline) [email protected] Mon to Fri 09.00 to 18.00
Fabian Wilk
Member at W & V Law Firm LLP