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British Virgin Island

IBC – International Business Company

IBC – an International Business Company – is the most commonly used official name for what is more popularly known as an “offshore company”. IBC is mostly incorporated entity under the laws of some jurisdictions as untaxed company which is not permitted to engage in business within the jurisdiction in which it is incorporated.

International Business Company might have most of the suffixes as follow (therefore they hold status IBC – you can chose any suffix you like to be used).

  1. Ltd
  2. Ltd.
  3. LTD
  4. LTD.
  5. Limited
  7. S.A.
  8. Inc
  9. Inc.
  10. Incorporated
  11. GmbH
  12. Co
  13. Co.


All of these suffixes might be used for company formation in Belize, company formation in BVI, company formation in Seychelles.

HK & BVI: Information request on company formation & bank account opening

Email from your customer: Name & nationality have been changed due to privacy issue. However, the content is more important. Here how we deal with our customers:


Hello Peter,


thanks for reaching me! My name is Tomas and I will take care of your case.


I will use your email and will implement all answers in for your better perusal (you wrote):

I would like some information regarding your company formation service.
I am a Swedish business owner and I am working on expanding world wide. I
am interested in creating 2 international business companies: One Hong
Kong based, this one will mainly be used to manage patents and related

The company is done within 24 hours.


0) Hong Kong Government – 300 US$ (for incorporation and business license)
1) Startupr Incorporation – 89 US$
2) Registered address 150 US$
3) Startupr as a Agent/secretary – 150 US$
4) Annual Return and postal – 60 US$ + 55 US$ (gov fees of 25 US$ included)
5) Certified copy of Documents – 250 US$ + 95 US$ ( You will need it in order to open up a bank account in HSBC)
6) Bank Account opening in HSBC 95 US$


We have in our team lawyer who is focused on patent as well. He might be of assistance.

The other one a BVI company, for international marketing and
technical consulting.
I would need to use a separate bank account for each company, but for
practicality it would be nice to have those at one reputable bank, like
This is exactly what we always advice to our clients. To open up a company is really easy however you should think twice where to open up a bank account! My advice is almost always HSBC as you have mentioned. They are based worldwide and have really nice online system – banking, we use it in Startupr as well.

The BVI company might have the bank account in HSBC in Hong Kong as well as the Hong Kong company. It would be done at the same time!


Pricing for BVI:


0) 350 US$ – Government incorporation fee
1)  89 US$ – Startupr company registration fee
2) 350 US$ – Registered address for one year
3) 395 + 115 US$ – Apostilled bound of incorporation documents + postal
4) 295 US$ – BVI, Mauritius, Malta, Latvia or Seychelles – bank account opening
Total: 1594 US$ ( however you can customize your order)

I would like to know if you can help arrange a setup like this

yes, we do this often

and what
your procedure for opening bank accounts is (does it require a meeting
at the bank, do you prepare all documents, etc). 
The process for you as customer is as follow for both companies (we really take care of everything else):

steps to form the company (HK, BVI) and open bank account are as follow:
0. understanding to your needs – biz model or biz case, your needs
1. filling the order form (attached)
2. checking by startupr
3. mandatory order, invoice & payment
4. incorporation
5. post incorporation process; documents dispatching to your address, etc.


we need to issue all documents as (for both companies: HK&BVI):


– Cert of Incumbency
– M&A
– Resolution of electing directors
– Resignation of Subscriber’s Rihts
– Cert of Incorporation
– Share certificate
– Certificate of Incumbency


Indeed, you will need to come over to HK, it will be much faster and easy for all of us.

My preference would be to have this all arranged as a complete package. 
I hope, I have replied to all of your questions, here is the Skype if you like to contact me any further: tomas.milar

or simply my phone: +852 817 036 29


have a great day

tomas m




Hi Thomas,


Thank you for the quick reply!
You've made things much clearer. So I get from this HSBC will have no problem opening an account for a BVI company? It's a shame I would need to be present in person, I am really short on time right now and I was hoping to get the company's started on short term. It's not possible to do the incorporations and bank account opening remotely?





Company search in British Virgin Island


What is a representative office?

If you have BVI company (or Belize, Seychelles).

If you company is struck-off for non payment in order for us to know the how long they were struck off from the Registrar, we have to conduct a Company search.


Company search – In conducting a company search, we will know who the registered agent is, what year was the company has been struck-off, what the authorised shares of the Company is and if there are any registered charges.


Is it possible to get to know the shareholders and directors? Only 25% of entities file information. It is voluntary.


Nominee director – Singapore Hong Kong, BVI, Nevada and another jurisdiction

Do you need us to provide you with “Nominee director” once you incorporate your Ltd, LLC, IBC, Inc, Corp.? We provide “Nominee directorship” for all of our jurisdictions: BVI, Seychelles, Singapore, Nevada, Hong Kong, Luxembourg etc.

We do offer “Nominee director” service as well. Chose this service once you register your company.

Your Startupr

How to set up a company in British Virgin Island (BVI)

The whole process of BVI company incorporation might be divided into 4(3) parts:

1. Pre-incorporation

  • Download our order form to understand a company formation requirements (ours and bureau of  BVI – British Virgin Islands)
  • we check the name of your company you want to register on the VIRRGIN System (It’s the name of the online British Virgin Islands incorporation system provided by the government. It’s accessible only with the IP address from BVI in order to protect all data of Companies Registry – VIRRGIN);
  • once you provide us your name, we reserve the name if available for 10 or for 90 days. The 10 day listing is free;
  • advise the client;
  • gather DD and KYC material and run on World Compliance, obtain approval from Due Diligence Officer;
  • obtain Incorporation info, share structure, number and value or no par value.

2. Incorporation

  • Submit the application through online system VIRRGIN to the Companies Registry. Incorporation is usually within 5 business hours;
  • you get the notification e-mail from CR that the company has been incorporated together with an electronic copy of the M and A;
  • save electronically;
  • print and advise client;
  • order seal or apostilled documents for further legal process.

3. Post-incorporation

  • Appoint first director/s, Complete Resolutions, Application for shares, Consent to act as director, and share certificate;
  • collect seal and make Impression;
  • collect Certificate of incorporation and copy. This is normally available about 7 business hours after notification of Incorporation;
  • send all documents and seal to client by courier with account. If other documents are needed urgently send electronically and prepare other documents for release upon return of signed documents from client;
  • await electronic return of signed documents. Upon receipt, open Registers save and print.

4. Bank account opening

  • There are possibilities to open a bank account in BVI or in European Union – Malta, Latvia or Switzerland.
  • It really depends what you chose on the order form – please check out the section for “bank account opening”.

Requirements to register your BVI company:

  • There is no need to be BVI resident in order to open up a company.
  • You need to fill in your particulars (to our application form) and send it to us online, e-mail or by fax.


Definition of a tax haven

There is not clear an explanation what tax haven means however according to OECD it’s a country doesn’t follow the 4 criteria.


OECD (Organisation for Economic Co-operation and Development) has made a list of the most important criteria it considers when determining whether a jurisdiction is a tax haven or not.


These criteria (according to OECD) have been specified as follow:
1. no or nominal tax on the relevant income;
2. lack of effective exchange of information;
3. lack of transparency; and
4. no substantial activities of the taxpayer in that jurisdiction, (2) together referred to as OECD Tax Haven Criteria.)


OECD has formulated following groups where 84 jurisdictions have been assessed:


While List – jurisdictions that the OECD does not consider as tax havens.
Grey List – jurisdictions have partly implemented the OECD International Tax Standard.
Black List – no tax cooperation, there are currently no black list countries.


More information on:



Register company in BVI – British Virgin Islands

Register company in BVI - British Virgin Islands

If we talk about BVI as the offshore jurisdiction we should consider one of the most typical entity – International Business Company (IBC). IBC takes the form of a private limited company by share. This entity is not engaged in business within the jurisdiction in which it is registered. There is a lot of another offshore jurisdictions which take a place in Seychelles, UAE, Cayman Islands, St. Vincent and the Grenadines, Panama or Belize.


Each IBC has own characteristics and provides different advantage, BVI – IBC includes:


– one shareholder and director are required (don’t have to be locals)
– no minimum capital requirement, shares may be nominated in any currency – GBP, USD, EUR
– annual requirement is only to pay government annual fees
– AGM – Annual General Meeting might be hold anywhere on the world
– exemption from local corporate taxation and stamp duty
– wide range of business activities might be provided
– BVI IBC can own shares in other BVI companies
– an option to issue shares in either registered or bearer form


Register your BVI company.

Incorporate International Business Company (IBC) in British Virgin Islands (BVI) and Open up an offshore bank account in Dubai

The Business International Company in BVI is one of the most widely used entity for offshore operations. The company is set up as private company limited by shares. The International Business Company Act 1984 has been amended past a few years (1990, 2003, 2004 and 2007) which cause changes in the following rules once you decide to incorporate the IBC in BVI: – Only one director and one shareholder are required;
– Shareholders, directors and officers – no need to be resident in the BVI
– no minimum capital requirement
– no need for accounts
– AGM – Annual General Meeting doesn’t have to be kept in BVI
– no need for annual returns
– IBC can hold shares in other BVI company
– IBC is exempt from the taxes
– statutory incorporation fees are 350 USD for capita up to 50,000 USD and 1,100 thereafter.

Bank account in Dubai – United Arab Emirates (UAE)

Once you decide to open up an International Business Company in BVI, Starupr has come up with the solution to open up a bank account in Barclays in UAE. Thanks to our relationship with local managers our customers have a choice to structure the bank account opening and a company incorporation. Barclays it’s just one of yours option to do so. Barclays is a global banking and financial services provider with company headquartered in London. It has branches in over 50 countries across Europe, Africa, South and North America.

Order form British Virgin Island Incorporation service – Limited company

DOC format.


PDF format.


Here is an order form – Limited Company in British Virgin Island (BVI). Simple steps to incorporate;

1) download form

2) fill in all requested info

3) accomplish payment

4) get your company

filled order form send by fax +1 (213) 291-2176 or scan by e-mail to tomas[at]

Guide on Incorporating a Company Limited by Shares in British Virgin Island

Business and Company registration – process


1. Name – think about a name of your company and we will reserve it for you

  •     Propose us 3 different names, find more in “User Guide No.2 – Company Names.“  You can use even foreign character (Latin alphabet).
  •     If you don’t chose a name, the Registry will automatically give you its BVI company number which will have a format “BVI company number 111111”.
  •     Chose appropriate ending “Limited” or “Ltd.”
  •     You can change a name anytime you want for 50 USD of Government fees.
  •     Due to the territorial limit of access in on-line registration (search) platform we have to do it for you.

2. Decide where the company’s registered office will be

  •     Every company has to have the registered office in the BVI.
  •     You can use your own address or use ours.

3. The Memorandum and Articles

  • The memorandum of association – records the agreement of the first subscribers to form a company under the 2004 Act. The founders of the Company must fill our form and the memorandum of association and state the number of shares they want.
  • The Article of association – is a must in order to comply with the 2004 Act. The articles specify the more detailed rules for the company internal management.
  • Before we incorporate, we have to have prepared the memorandum and articles. We will do all for you once you provide us all necessary information.

4. Decide who is going to be the directors and shareholders

  • Every company has to have at least one shareholder and one director (it might be the same person)

5. Now we are able to incorporate

  • We will take responsibility to form a company on your behalf.
  • Application forms need to be submitted:

o    The memorandum of association
o    The articles of association
o    A certificate from the registered agent (from us)


Government FEES:


The fees for incorporation of company (limited by shares – most common):


Where the company is authorized to issue less than 50,000 shares   350 US$
Where the company is authorized to issue more than 50,000 shares 1,100 US$


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