bviifc.gov.vg Registry of Corporate Business British Virgin Islands : BVI International Finance Centre

Organization : BVI International Finance Centre
Type of Facility : Registry of Corporate Business
Country: British Virgin Islands

Website : https://www.bvifinance.vg/

Registry of Corporate Business :

The BVI is the world’s pre-eminent corporate domicile. Since the adoption of its pioneering BC Act in 2004, approximately 500,000 companies have been incorporated in the territory.

Related : Financial Services Commission Certificate Verification British Virgin Islands : www.statusin.org/8220.html

The number of new registrations has averaged more than 61,809 for the past seven years (2001-2008).

Other jurisdictions have introduced legislation similar to the BVI, in an effort to compete for company formation business. However, the BVI has maintained its leadership position thanks to the flexibility of its legislation, the quality of its financial services, the efficiency of its Registry of Corporate Affairs, its commitment to privacy, and its integrity and stability as a jurisdiction.

Why BVI? :
There is a real buzz about doing corporate business in the BVI today; Why is that?
** Is it due to the introduction of VIRRGIN, our new 24/7 electronic filing system?
** Is it our modern corporate legislation?
** Is it that most of the offshore magic circle law firms and many other significant firms are here?
** Is it the fact that we are still competitively priced?
** Is it the collaboration between the private and public sector?
** Or is that we simply try harder?
** Advantages of incoporating in the British Virgin Islands?

VIRRGIN :
Late in 2006, the BVI successfully introduced VIRRGIN, a state of the art electronic filing system. All incorporations and post incorporation filings can now be made electronically, which leads to fast, efficient and accurate turnaround of documents by the Registry of Corporate Affairs.

Legislation :
New legislation in the BVI has been enacted to ensure the Territory’s tradition of excellence, reliability and flexibility continues. The result is modern, and innovative laws which reflect the changing demands of the economic environment.

Examples of recent legislative changes are:
BVI Business Companies Act, 2004 (“BVI BC Act”):
The BVI BC Act replaced the hugely successful International Business Companies Act of 1984. The BVI BC Act maintains the benefits of the previous Act, while introducing a number of innovative additional provisions to make the BVI business company a more effective, transactional vehicle.

Insolvency Act, 2003:
The Insolvency Act, 2003 represents a significant updating of the insolvency regime in the BVI and is unique in the offshore jurisdiction. It is based on modern United Kingdom legislation and the growth of insolvency practices in the BVI reflects its successful introduction.

Law Firms :
Virtually all of the offshore “magic circle” law firms are now represented in the BVI. They, and the other well established firms, are fully equipped to deal with the growing amount of legal work in the BVI. There is a wide choice available and an unparalleled quantity and sophistication of legal resources available to undertake increasingly complex work.

Pricing :
Our pricing in terms of legal fees, corporate and trust services and government fees is still significantly low, which maintains the BVI’s reputation as an efficient provider and competitive advantage.

Private and Public Sector Collaboration :
The public sector and private sector have a close working relationship. Private sector groups are consulted on legislative changes and policy decisions. This close working relationship ensures that BVI continues to offer new opportunities aligned to the needs of the users of offshore companies.

We Try Harder :
All the players in the BVI, whether it is the government, the law firms, the accounting firms, or other service providers, are constantly working together to make the BVI the offshore financial centre of choice.