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The British Virgin Islands Financial Services Commission dealt with both issues in a single legislative swoop. [3] The BVI Business Companies Act is actually based upon a New Zealand statute (as opposed to the International Business Companies Act, which was based on Delaware corporation law). Conscious of how widely the earlier legislation had ...
The British Virgin Islands company law is the law that governs businesses registered in the British Virgin Islands. It is primarily codified through the BVI Business Companies Act, 2004 , and to a lesser extent by the Insolvency Act, 2003 and by the Securities and Investment Business Act, 2010.
In 2000, KPMG were commissioned by the British Government to produce a report on the offshore financial industry generally, and the report indicated that approximately 45% of the offshore companies in the world were formed in the British Virgin Islands, [7] making the British Virgin Islands one of the world's leading offshore financial centres ...
The British Virgin Islands Companies Registry. The term "offshore company" or "offshore corporation" is used in at least two distinct and different ways. An offshore company may be a reference to: a company, group or sometimes a division thereof, which engages in offshoring business processes. [1]
The BVI Financial Services Commission is an autonomous regulatory authority responsible for the regulation, supervision and inspection of all the British Virgin Islands financial services including insurance, banking, trustee business, company management, mutual funds business, the registration of companies, limited partnerships and intellectual property.
The British Virgin Islands government has announced as policy that it will only naturalise 25 new belongers each year. Laws in the British Virgin Islands openly discriminate against non-belongers. For example, stamp duty on the purchase of land is 4% for belongers and 12% for non-belongers.
There are two likely reasons for this; firstly, for an Offshore Financial Centre, the British Virgin Islands has an underdeveloped banking infrastructure compared to (for example) the Cayman Islands or Jersey and so comparatively modest sums are deposited in the Territory's banks; secondly, the withholding tax only affects deposits held by ...
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related to: offshore company registration bvi government departmentA+ Accreditation - Better Business Bureau