British Virgin Island (BVI) incorporation are attractive to many entrepreneurs, but many still misunderstand the taxes involved. Dormant companies may be exempt from tax, while active companies pay taxes within their jurisdiction. This is where we can help. Paul Hype Page & Co. to register a company in British Virgin Island. In general, our clients would register a company in British Virgin Island for estate planning, fund management, or holding property assets.
A BVI may not be exempt from tax if:
1) Profit income is gained through active operations
2) Tax jurisdiction require income sources to be reported
3) Tax regulations require income sources to be reported
The use of a BVI as a tax haven, or legal method to pay little or minimal tax, has concerned global governments to the extent that they have jointly enacted the Base Erosion and Profit Shifting (BEPS) Initiative. For more information, please click here.