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Copyright © SIA MEB, 2008 Izstrādāja: majaslapa.lv web lapu izstrāde un magento outsourcing >
Offshore jurisdictions provide unique opportunities for tax reduction and business development. Among the benefits of offshore industry, which now covers about a half of the world’s financial transactions, there are minimum requirements, high level of privacy, tax exemption. BVI company law provides minimum obligation to file any returns or reports. BVI IBC's are not obliged to prepare or file financial accounts, annual returns or records. However, the company must keep whatever financial records the company Directors feel enough to show and clarify the transactions carried out, and to determine the financial position of the offshore company. Offshore business is based on the legislation of offshore financial centres providing for certain advantages including tax, confidentiality and company structure, which can be used by non-residents establishing offshore companies in these jurisdictions. BVI offshore International Business Company is a private corporation exempt from taxes, having flexible structure and maintaining strict confidentiality, not burdened by excessive reporting and record-keeping requirements. Besides tax, there are other benefits of offshore company formation, including anonymity, asset protection, possibilities of foreign property holding, limited liability in business transactions, unrestricted flow of capital and transfer of assets. Some offshore corporations however are limited in their activities due to restrictions that are placed on them by the jurisdictions. Trade benefits available to some companies may be closed to those incorporated in the finance centres due to their offshore location. According to the new BVI Business Companies Act, Registered Agent is required for all British Virgin Islands companies, regardless of company type and sphere of business operations. The requirement equally refers to onshore and offshore companies.
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