BVI Company Incorporation Package #BVIBC03 – Registration and Registered Agent Services and Certificate of Incumbency and Corporate Bank Account
The BVI company in this website, unless otherwise advised, refers to business company registered in British Virgin Islands in accordance with the BVI Business Companies Act 2004. This type of company is also commonly known as offshore company, international business company or tax-free company.
1. British Virgin Islands (BVI) Business Company Registration Package #BVIBC03 – Scope of Services and Fees
(1) BVI Company Registration (for company with share capital of no more than 50,000 shares and without Chinese name): USD950
With a standard share capital of less than or of 50,000 shares, the registration fee together with the first-year maintenance fee is USD950. In particular, the fee covers:
(a) First year license fee
(b) First year registered agent and registered office
(c) One complete company kit
(d) Our incorporation service charge
(2) Certificate of Incumbency (or CPA certification): USD150
One original Certificate of Incumbency issued by the registered agent immediately after the registration is completed or a set of CPA certified incorporation documents for the purpose of establishing bank account.
(3) Corporate Bank Account with Hong Kong Bank in Hong Kong: USD425
After the company is duly registered, we assist you to set up a corporate account with Hong Kong Bank in Hong Kong. Hong Kong Bank requires the physical presence in their Hong Kong branch of at least one director or one shareholder for the purpose of due diligence. Once the company is registered, we will arrange with the client to come to Hong Kong and visit the bank to open the bank account. If the director or the authorized signer could not come to Hong Kong, he should at least visit a local HSBC branch or any of our office for signature and passport verification purpose.
The bank account offers ATM card, HKD check book and Internet banking facility.
Total Package Price (1) + (2) + (3) = USD1,525.00
Note:
(1) An extra fee of USD150 needs to be added if Chinese name is also to be registered.
(2) The fees stated above is also applicable to readymade company (shelf company).
(3) The fees stated above does not include delivery fee, if any.
2. Step by Step to Register a new BVI Company and Setting up of Corporate Bank Account
Step 1
You confirm and engage Kaizen to register an offshore company by either sending Kaizen an email or fax. If so requested, Kaizen will prepare and sign an engagement letter with you.
Step 2
Kaizen issues an invoice of the fees and email the invoice to you and you arrange payment by check, bank transfer or wiring. Detailed instructions will be provided upon confirmation of order.
Step 3
You provide to Kaizen either by fax or scan and email the following materials:
(1) Proposed company name, either in English only or Chinese only or both;
(2) One photocopy of passport (only the page showing the particulars of the holder) and residential address of each shareholder; if any shareholder is another corporation, please provide Certificate of Incorporation and Registered Office of that corporation;
(3) One photocopy of passport (only the page showing the particulars of the holder) and residential address of each director; if any director is another corporation, please provide Certificate of Incorporation and Registered Office of that corporation;
(4) Amounts of authorized share capital and issued capital, percentage of shareholdings if more than one shareholder.
Step 4
Kaizen checks the availability of the proposed company name. If available and after payment confirmed, Kaizen proceed to registration; if not available, Kaizen will go back to you for more company names and perform the availability search again.
Step 5
Kaizen receive the Certificate of Incorporation from the Registrar of Companies.
Step 6
Kaizen attends to the followings:
(1) Printing Memorandum and Articles of Association
(2) Prepare minutes of First Board Meeting
(3) Prepare Application for Allotment of Share(s) for each shareholder
(4) Prepare Consent to Act as Director for each director
(5) Update Register of Members
(6) Update Register of Directors
(7) Prepare Share Certificate
(8) Carve Common Seal and rubber chop
Step 7
Kaizen arrange to deliver the above documents/materials (together known as Company Kit) to you.
Step 8
Upon receipt of the Company Kit, you sign the following documents: –
(1) Application for allotment of shares
(2) Minutes of First Board Meeting
(3) Consent to Act as Director
(4) Share Certificate
and then either fax or scan and email a copy of the duly signed documents as listed above to Kaizen. Registration procedures completed.
Step 9
Upon receipt of the duly signed incorporation activation documents (those listed in Step 8) from you, we apply for the Certificate of Incumbency (Registered Agent’s Certificate) and deliver it to you.
Step 10
Kaizen prepares CPA certified corporate documents together with a copy of the Certificate of Incumbency as required by the bank for the purpose of opening the bank account and submits all the documents to the bank for process.
3. Documents and Information Required
Documents and Information needed to be provided by you for the Purpose of Registration
(1) A photocopy of identity card or passport of each director and shareholder
(2) Residential addresses with proof of all directors and shareholders, such as utility bill, telephone bill.
(3) Proposed name of the company
(4) Amount of share capital (unless otherwise advised, all company will be incorporated with a standard share capital of 50,000 shares) and percentage of shareholding by each shareholder, if more than one shareholder
(5) Proof of business activities to be carried out by the company, such as brochure, purchase order, invoice, L/C or business plan.
4. Time Frame
The whole processes for the tailor-made and readymade companies could be completed in around 14 days and 2 days respectively. The application for Certificate of Incumbency will take 2 working days and the setting up of corporate bank account will take around 5 working days.
5. Documents Given to Clients after Registration
(1) Original copy of Certificate of Incorporation
(2) Three (3) copies of Memorandum and Articles of Association
(3) Ten (10) copies of share certificate
(4) Register of Members and Register of Directors
(5) Common Seal and company chop
(6) Minutes for the appointment of first director(s)
6. Annual Fees for Second and Subsequent Years
The annual maintenance costs of a standard BVI Business Company are USD750. The annual maintenance costs include annual franchise or license fees forwarded to jurisdiction in second and subsequent years following formation. The annual Registered Agent renewal fee is included. For companies registered in the first half year, annual maintenance fees are due for payment on or before 31 March; for companies registered in the second half year, annual maintenance fees are due for payment on or before 31 November.
7. Payment Term and Payment Methods
Upon receipt of your order, we will issue an invoice to you for your settlement. We require full payment in advance.
We accept cash, TT and Hong Kong Dollar check and credit card (by Paypal). Please click here for payment methods.