BVI Public Company Limited by Shares

Public Limited Company formation in the British Virgin Islands

A public limited company is a company which is registered as such and complies with the following: It must state that it is a public limited company both in its memorandum and in its name. The memorandum must contain a clause stating that it is a public limited company and the name must end with 'Public Limited Company' or 'PLC'. A public company formed under the Companies Act is similar to a private company limited by shares except that it must have 5 or more members. There are two types of public companies: Companies Limited by Shares and Companies Limited by Guarantee.

A PLC has access to capital markets and can offer its shares for sale to the public through a recognised stock exchange. It can also issue advertisements offering any of its securities for sale to the public.

We register BVI corporations tax-free jurisdictions for US, UK & international clients, provide BVI registered agent and BVI resident address services. Whether you want a full office with nominee officers or just resident agent service we are here to help you through every step that your offshore business BVI may take. At Coddan we assist clients with the first step of incorporate BVI limited company, we can assist you establishing your BVI company with minimal effort and time.

The BVI Business Companies Act has effectively removed the distinction between offshore and onshore companies, but the new legislation is expected to be just as popular to offshore investors and clients. Prior to the BVI BC Act, the main forms useful for offshore operations in the British Virgin Islands were the International Business Company, the various types of non-resident Cap. 285 company, the International Limited Partnership, and the Trust.

Under the 2004 Business Companies Act, several different types of companies can be incorporated including:

• Companies limited by shares. Likely to remain the most popular form of BVI company.
• Companies limited by guarantee not authorised to issue shares.
• Companies limited by guarantee authorised to issue shares.
• Unlimited companies authorised to issue shares.
• Unlimited companies not authorised to issue shares.

Until 2006, offshore BVI companies were taxed as follows (stamp duty exemptions remain in force): Non-resident limited liability companies (whether limited by shares, by guarantee or both, ie hybrid) were exempt from income tax on foreign-derived income, but paid BVI income tax at 15% on any chargeable income derived locally or remitted to the BVI. Resident limited liability companies which obtained not less than 90% of their net profit from trading outside the BVI (known as offshore trading companies) paid 1% income tax on their chargeable profits.

Companies formed under the Companies Act 1963 were often referred to as 'CAC', 'CapCo', or 'Cap. 285' companies. They could be private companies limited by shares, by guarantee, or hybrid; or they could be unlimited, but that is rare. Public companies can also be formed under the Act. For all these types of company, Memorandum and Articles of Association must be filed at the Companies Registry, along with the registration fee. For companies limited by shares the Articles of Association can follow the Memorandum - 'Table A' applies if no Articles are registered.

Coddan offers electronic public companies incorporation and electronic filing of documents. We are professional in incorporating public company, BVI limited company incorporator, starting business advisers, private and public companies and partnership formation, open branch and offshore trust set-up in the British Virgin Islands. We also offer nominee secretary, nominee director, nominee shareholders and registered office facilities in addition to companies' formations in the BVI.

BVI Companies Formation Packages

Coddan offers three packages of BVI IBC formation, cut out to your needs:

Economy Package - £560.00

The Economy Business Company package includes:

• The registration of your British Virgin Islands' Business Company within 2 to 5 working days. After the incorporation please allow us 4-5 business days to receive original documents from the BVI Registrar of Companies.
• Company name availability, confirmation, and reservation
• The payment of initiation fees
• The payment of the first year's registration fees
• The appointment of your own candidates to the roles of director and shareholder
• The registration of your US$50,000 authorized share capital divided into 50,000 shares valued at US$1.00 each (a minimum of one share must be issued)
• The preparation and submission of the Memorandum and Articles of Association of your company
• A local registered office address and a local registered agent (both of which are statutory requirements in the British Virgin Islands)
• The first year's fees for a local registered office address and a local registered agent

The following documents will be sent to you via courier:

• The original Certificate of Incorporation
• A bound copy of the Memorandum and Articles of Association of your company
• The Minutes of the First Meeting of the Board of Directors
• A completed Register of Directors and Shareholders
• Share Certificates
• A company seal

Order BVI International Business Company: Economy Formation Package - £560.00

Premier Package - £725.00

The Premier Business Company package includes:

• The registration of your British Virgin Islands' Business Company within 2 to 5 working days. After the incorporation please allow us 4-5 business days to receive original documents from the BVI Registrar of Companies.
• Company name availability, confirmation, and reservation
• The payment of initiation fees
• The payment of the first year's registration fees
• The appointment of your own candidate(s) to the role of shareholder
• The appointment of a nominee director
• The first year's fees for a nominee director
• The registration of your US$50,000 authorized share capital divided into 50,000 shares valued at US$1.00 each (a minimum of one share must be issued)
• The preparation and submission of the Memorandum and Articles of Association of your company
• A local registered office address and a local registered agent (both of which are statutory requirements in the British Virgin Islands)
• The first year's fees for a local registered office address and a local registered agent

The following documents will be sent to you via courier:

• The original Certificate of Incorporation
• A bound copy of the Memorandum and Articles of Association of your company
• The Minutes of the First Meeting of the Board of Directors
• A completed Register of Directors and Shareholders
• Share Certificates
• A company seal
• A pre-signed, undated letter of resignation from the nominee director
• A general power of attorney signed by the nominee director
• An indemnity letter for the power of attorney
• A nominee agreement which provides for the indemnification of the nominee director

Order BVI International Business Company: Premier Formation Package - £725.00

Deluxe Package - £835.00

The Deluxe Business Company package includes:

• The registration of your British Virgin Islands' Business Company within 2 to 5 working days. After the incorporation please allow us 4-5 business days to receive original documents from the BVI Registrar of Companies.
• Company name availability, confirmation, and reservation
• The payment of initiation fees
• The payment of the first year's registration fees
• The appointment of a nominee director
• The first year's fees for a nominee director
• The appointment of a nominee shareholder
• The first year's fees for a nominee shareholder
• The registration of your US$50,000 authorized share capital divided into 50,000 shares valued at US$1.00 each (a minimum of one share must be issued)
• The preparation and submission of the Memorandum and Articles of Association of your company
• A local registered office address and a local registered agent (both of which are statutory requirements in the British Virgin Islands)
• The first year's fees for a local registered office address and a local registered agent

The following documents will be sent to you via courier:

• The original Certificate of Incorporation
• A bound copy of the Memorandum and Articles of Association of your company
• The Minutes of the First Meeting of the Board of Directors
• A completed Register of Directors and Shareholders
• Share Certificates
• A company seal
• A pre-signed, undated letter of resignation from the nominee director
• A general power of attorney signed by the nominee director
• An indemnity letter for the power of attorney
• A nominee agreement which provides for the indemnification of the nominee director and nominee shareholder
• A declaration of trust from the nominee shareholder

Order BVI International Business Company: Deluxe Formation Package - £835.00

Please contact us for more information. If you have any queries, please call us during business hours and speak to one of our highly trained incorporation specialists. You can call us by phone 800-081-1510 or + 44 (0) 207.935.5171, or make an initial consultation request.