What are the advantages and benefits of registering a company in BVI (British Virgin Islands) for Qundao?

Advantages of registering a company in BVI for Qundao?

The purpose of registering a BVI company with Quandao Corporation

Quandao Corporation is registered in the British Virgin Islands, a member of the United Kingdom federation.

There are many favorable conditions for international investors to register offshore companies in this place under local laws, which has attracted more than one million offshore companies to choose to register in the British Virgin Islands, known as BVI companies or BVI offshore companies. BVI offshore companies do not need to pay taxes, are not subject to foreign exchange controls, and require less information to register. Therefore, many multinational companies and individuals are attracted to register BVI companies, such as Didi, Alibaba, Qihoo 360, and Li Ka-shing’s company. Setting up a multi-level offshore company structure can legally avoid taxes and invest in domestic companies in the name of overseas companies, which is a common use of Chinese entrepreneurs registering BVI companies.

Benefits of registering a BVI company

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1. No need to submit audited financial statements;

2. The registered name of the company can use both Chinese and English names;

3. The political, economic, and trade environment in BVI is very stable;

4. There are good financial and legal facilities, which are convenient for the establishment and development of various financial institutions or foundations;

5. Business registration information is kept confidential, and the government protects the interests of shareholders, and the identity of the beneficial owner does not need to be disclosed;

6. One person can register a company;

7. Low tax rate, island international limited companies are subject to very little tax control, and do not need to declare or pay any taxes;

8. No need for an auditor’s report, only retaining information reflecting the economic situation is sufficient;

10. Profits earned from operating in other places do not need to pay capital gains tax, and reasonable tax avoidance can be achieved through triangular trade.

11. No foreign exchange control, free entry and exit of foreign currencies, and accounts can be opened in banks around the world.

BVI company registration requirements:

1. BVI company name requirements: can be in Chinese or English; English names must end with Limited, Ltd, Incorporated, Corporation, Sociatedad Anonima, Societe Anonyme, or their abbreviations; may contain words such as international, group, holding, industry, investment, academy, association, center, research institute, etc;

2. Shareholders and directors requirements: one or more shareholders or directors, shareholders can be legal persons or individuals, natural persons over 18 years old holding passports of mainland citizens or overseas persons are acceptable;

3. Registered address requirements: the company’s registered address must be local, generally provided by our company;

4. Company business scope: no restrictions.

The process of registering a BVI company:

Step 1: Prepare a registration plan and name the company;

Step 2: Sign an agency agreement with our company and submit relevant materials;

Step 3: Sign the complete set of documents (our company arranges shareholders to sign the complete set of documents at the designated location);

Step 4: Our company submits the documents for government approval;

Step 5: Registration is completed, and registration certificates, articles of association and other documents are received.

Documents required for registering a BVI company:

1. Two or three new company names;

2. The business scope of the company;

3. Copies of the ID or passport of at least one shareholder or director;

4. Shareholding ratios of shareholders;

5. Address proof of shareholders and directors (recent credit card/bank statements, water and electricity bills).

Time required for registering a BVI company: 10-15 working days

Opening a bank account for a registered BVI company:

The company can open a bank account with banks in Hong Kong, mainland China, overseas, etc. When opening an account, the company’s shareholders and directors need to go to the bank for an interview. Our company assists clients in preparing account opening documents and making appointments with the bank, and opens the account directly where the client is located, without the need to go to the location of the bank.

The documents obtained after completing the registration of BVI company:

1. Certificate of Incorporation (referred to as CI);

2. Three copies of the company’s Articles of Association;

3. Share certificates;

4. One steel stamp and one signature chop;

5. One set of copies of the documents for registering the company.

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