BVI Company Incorporation
British Virgin Islands (BVI) is an alternate jurisdiction to Hong Kong to incorporate a company if you do not carry out your business in HK nor in the British Virgin Islands (BVI). Persons who wish to carry on business without disclosing their identities and be subject to fewer restrictions may incorporate an International Business Company for their purposes.
However, if a BVI company establish a place of business in HK, it must register as an overseas company with the HK Company Registry within one month after the establishment of the place of business in Hong Kong. Since it has established a place of business in HK, it must apply and pay the HK Business Registration and comply with the HK Profits Tax Return filing on all its onshore profits as if it was an HK company.
The name of a BVI Company must include the words "Limited", "Incorporated", "Corporation", "Societe Anonyme" or "Sociedad Anonima" or the abbreviation "Ltd", "Inc", "Corp" or "SA". The use of words as "Bank", "Trust", "Assurance" or "Chartered" is not permissible unless with prior approval.
Every BVI company must have a Registered Agent in the BVI and is licensed under the Company Management Act or under the Banks and Trust Companies Act in British Virgin Islands. In event of an appointment or resignation of a registered agent, the company concerned must pass a resolution of members to amend its memorandum. Failure to register the resolution with the register will result in the company's name being struck off from the Register of International Business Companies.
Unlike Hong Kong Companies, the minimum number of shareholders and directors could be as low as only ONE. As long as there is no business operation in Hong Kong, the business registration in Hong Kong is not required. For a BVI company to open bank account in HK, it is not necessary to have a HK Business Registration.
Contact our BVI incorporation expert at (852) 2739 9312 or Biz@keithwongcpa.com
¡@
¡@
¡@
¡@
¡@