Offshore companies are defining components of current international economy.

Anguilla Limited
Singapore Limited
Cayman Limited
BVI Limited
Belize Limited
Hong Kong Limited

BVI Limited

BVI offshore companies are limited liability companies. They are formally referred to as BVI Business Companies, having been enacted under the BVI Business Companies Act, 2004. BVI limited companies are tax free entities that are used for minimizing taxes and as international business vehicles for trading any part of the world. The following paragraphs discuss three main aspects of the BVI offshore company, here referred to the BVI limited company, with respect to registered agents, the memorandum and the powers and capacities of BVI limited companies (offshore).

A limited company offshore in the BVI must be registered and incorporated through a registered agent. Registered agents must be licensed and authorized to offer incorporation services and products to Belize limited companies. This means that a company or firm must meet the standards set for operating as a registered agent and approved by the relevant authorities and be issued with a specific license before operating as a registered agent for BVI limited companies offshore. Registered agents take care of the legal paper work that is relevant for BVI business establishement, similar to Belize company formation, and provide customers with the necessary guidelines for incorporating.

The memorandum of a BVI limited provides such information like the company’s name, its share structure- limited by guarantee and authorized or not authorized to issue shares, limited by shares, unlimited and authorized or not to issue shares. This means that a BVI limited company can take any of these forms when issuing its shares, and are able to be formed as companies limited by shares, guarantee or with unlimited liability.

The memorandum of a BVI limited company also states the name and address of the registered company, the authorized share capital, the classes and types of shares that the BVI limited company is permitted to issue, and whether a BVI limited company that is limited by shares or capable of issuing shares is able to issue bearer shares, exchange and convert registered shares for and to bearer shares; among other matters. It is important for the memorandum of a BVI limited to present clear principles for the management of the BVI limited company affairs as well as its status and the way in which things should be done with respect to the legal and capital structure of the BVI limited company. This avoids confusion and gives shareholders, directors and other stakeholders a clear way forward. If any clause in the memorandum of a BVI limited company contravenes the provisions of the BVI Business Companies Act, such clause is considered ineffective.

Some of the powers and capacities of a BVI limited company offshore include granting options over shares that are unissued, providing financial help to anyone in matters relating to the acquisition of their own shares, holding treasury shares, issuing and canceling shares, issuing debentures, as well as securities if these securities are convertible into shares, and providing some form of protection for uts assets in the best interests of members, creditors and the company itself. Such powers are however exercisable by a BVI limited company as long as it is not a company with unlimited liability or is limited by guarantee without shares. The power to issue bearer shares, convert and exchange registered shares to and for bearer shares must be expressly contained in the memorandum in order for such actions to be taken (Part III, section 38 (1) of the Act). However, such actions can be taken from time to time as seen fit for conducting the BVI limited company affairs (38-2).

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