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The bvi announced the main condition for the disclosure of beneficial owners information
**London requires the British Virgin Islands (bvi), to create an open database of offshore owners.** Local authorities already have a system for registering company owners, Beneficial Ownership Secure Search System (BOSS) with a limited access. In fact, full access to this system is granted to only two people, employees of the bvi’s Financial Investigation Agency. bvi authorities use BOSS to...
Path: BlogBritish Virgin Islands Forex License
British Virgin Islands (bvi) often referred to as “offshore tax heaven” is one of the most popular forex jurisdictions due to absence of profit, corporation and capital gains tax.Incorporation & obtaining license: depending on the Regulator. In general, can take from 4 weeks to 4 months Minimum paid up capital: is set on case-by-case basis. Once the application is submitted t...
Path: LicensingBritish Virgin Islands International Business Company Formation
Full tax exemption, flexibility, as well as solid reputation and high privacy standards of the jurisdiction make bvi BC a great option for virtually any corporate structure.Incorporation: 5 working days + delivery time for the courier (3-5 days) + 3 working days for the apostilled documents Minimum paid up capital: No minimum capital requirement Overview The Bri...
Path: CompaniesWhy do you need to protect your company's brand in modern world?
...al companies, brightness and happiness for entertainment services, freshness for food corporations – every emotional idea will help you reach you customer if business is properly branded. Now, let’s move to the ways of protecting your brand. Obviously, registering all existing trademarks is a first step to take in protecting your brand. Registration process differs depending on the jurisdic...
Path: BlogBritish Virgin Islands announces a dollar-backed digital coin
...tates Dollar as the national currency since 1959. Today, the government is cooperating with a blockchain startup LifeLabs to implement a central digital currency that will be backed by the US dollar in a 1:1 ratio for use within the territory of the bvi. This means that each token of bvi~LIFE will be backed by 1 dollar. It is envisaged that the implementation of the dollar-pegged digital coin w...
Path: BlogEconomic Substance Regulations in UAE
...type of activities, income, operating expenses and assets, place of business, personnel. Companies conducting “high-risk” intellectual property business will be subject to additional requirements. **Sanctions in case of non-compliance** Obviously, failure to meet the requirements will lead to unpleasant consequences. The following fines are envisaged for non-compliance: • Failure ...
Path: BlogSEC representative "hopes" Bitcoin ETF will be approved
...opportunities. Back in July, Hester Peirce stated that the Winklevoss’ suggested rule change has satisfied the statutory standard, hence it should be permitted. By analyzing the above situation, we surely can say that the SEC’s position has obviously not deterred all crypto enthusiasts from trying to make the ETF revelation. Read our blog in order to stay updated with the latest crypto ...
Path: BlogTax storm. British Virgin Islands ceased to be a "haven" for shall companies
Another convenient tax haven is lost for business - the British Virgin Islands (bvi). Since January 1, 2019 criteria of economic presence for foreign companies has entered into force in bvi, which will become a powerful barrier for the registration of shell business. **British Virgin Islands, beloved all over the world for zero taxation of legal entities, in agreement with the European Union...
Path: BlogWhy is Limited Liability Partnership a popular business structure?
It is obvious that this business structure gives certain advantages to business founders and allows them to set up most effective businesses. But why is Limited Liability Partnership (or LLP) so popular among non-resident entrepreneurs in the UK? Let us analyze most crucial advantages of choosing this business structure for the UK company formation. First of all, you will require more than...
Path: BlogLolli: how legit is the customer loyalty program that rewards users in bitcoin
...tform. Lolli already supports north of 500 retailers and requests for additional ones can be made directly with the team. **The Benefits of Crypto Rewards** By now the benefits of a cryptocurrency online shopping and reward programs should be obvious. But to clarify, let’s take a look at a few notable reasons. 1. Lolli is handling all the cryptocurrency payments from their end. This way...
Path: BlogDecentralized Internet – affordable resources and privacy on the web
...wser from a large centralized corporation like Microsoft or Google or from a smaller product like Tor. ***The Tor Project*** Computer scientists founded the Tor Project in December of 2006 with the mission of enabling anonymous communication. Obviously, anonymous communication enforces privacy. Tor, an acronym for “the onion router,” protects against network surveillance and traffic anal...
Path: BlogTwo more opponents of the UK policy regarding public registers
...dos) of enterprises to the public, as was stated by the Minister of Industry, International Business, Commerce and Small Business Development, Donville Inniss, at the STEP Conference. Recently, it was announced that the **British Virgin Islands (bvi)** and the **Cayman Islands**, two of the British Overseas Territories, are making preparations regarding the **launch of legal challenges to the ...
Path: BlogNew beneficial owner policy in British Virgin Islands
**The British Virgin Islands are now discussing implementation of new rules for beneficial owners**. It is a problem of particular interest due to growing number of Asian beneficial owners of bvi companies. **bvi House Asia**, financial services promotion agency, organized a seminar in Hong Kong to discuss and inform Asian entrepreneurs about newest regulations. Above mentioned regulations ar...
Path: BlogJersey initiates anti-money laundering review
...y can download the questionnaire from there, find recommendations and upload the result. Moreover, the Jersey Financial Services Commission created a special FAQ section for industry representatives who have questions about the submission process. Obviously, these entities will need more time to stabilize the monitoring process and to get used to new rules but the Commission does its best to ease...
Path: BlogHow to Relocate Your Business Overseas: Expert Recommendations
...the jurisdiction itself. When there is a practical need of internationalizing your company, it is very reasonable to consider an expert advice on how to relocate your business overseas. **Benefits of relocating your business overseas** It is obvious - business owners are looking for as many pros as possible while going offshore. Legitimate restructuring of your company overseas is beneficia...
Path: BlogThe British Virgin Island Authority declared a warning for CRS and FATCA
**The British Virgin Islands (bvi) legislation** obliges financial institutions to follow rules of the US Financial Account Tax Compliance Act (FATCA) and the OECD's Common Reporting Standard (CRS) in regards to sharing all relevant information with the international tax authorities. In February 2018, the British Virgin Islands International Tax Authority issued a reminder for companies who a...
Path: BlogOffshore jurisdictions introduce strict requirements for tax residents
...UK Crown Dependencies and Overseas territories: i.e. the Bermuda Parliament is currently considering the respective bill in its second reading on December 17. Before the end of December, the same acts should be adopted by governmental authorities of bvi and other Overseas territories. In December of last year, the Council of European Union published a “gray” list of more than 40 tax regimes...
Path: BlogVanuatu International Business Company Formation
...of New Zealand, consisting of a chain of 13 principal and many smaller islands. When it comes to offshore businesses and tax havens, Vanuatu ranks among the most popular. In fact, it features amongst the most sought out locations such as the bvi, Bermuda, Cayman Islands and Jersey. An Offshore or International Company, is commonly set up in an offshore financial centre like Vanuatu, whe...
Path: CompaniesSeychelles International Business Company (IBC) Formation
...ed and does not fall under the EU Tax law in comparison with other companies that have to comply with the EU regulations (i.e. the UK and its territories overseas). Seychelles IBC is similar to the most popular international business company, the bvi IBC, and in some respects even exceeds that benchmark model of offshore corporation. Since the introduction of the Seychelles International Busine...
Path: Companies