British Virgin Islands (BVI)
British Virgin Islands (BRITISH VIRGIN ISLANDS-BVI) is located between the Atlantic Ocean and Caribbean Sea, with an area of 153 square kilometers. It located in the northern end of the Leeward Islands, 100 km away from the east coast of Puerto Rico, and near the Virgin islands. The British Virgin Islands is one of the members of the Commonwealth, and the official language is English.
British Virgin Islands rely mainly on tourism and financial services. In 1984, the Government promulgated the International Business Companies Act. This legislation has proved to be immensely popular in the international context, the BVI currently become one of the world's most famous offshore financial center. In the past nearly 20 years, more than 400,000 offshore companies registered in there. BVI is one of the financial centers in the Caribbean.
Legal and Tax
The legal system follows the British common law system (but contains some of the provisions of the laws of the State of Delaware of United States in the International Business Companies Act). Companies Act milestone in the development of the International Business Companies Act, enacted in 1984, and a company registered under the Act are entitled to duty-free concessions. Tax Exemptions include capital gains tax, stamp duty and any form of tax-free taxable. In the BVI, the foreign exchange is unregulated.
The Company Processing Time
New established company: about 15 working days, containing Chinese name companies plus 2-3 working days;
Buying a shelf company: 2-5 working days.
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