Offshore Service Providers Directory
 Sovereign Group - BVI
801 Reef Tower, Jumeirah Lake Towers, P.O. Box 62201, Dubai, United Arab Emirates
Tel: +971 4 448 6010 | Fax: +971 4 448 6011 | SovereignGroup.com
| dubai@SovereignGroup.com
About Sovereign
The first Sovereign office opened in Gibraltar in 1987 but we now have offices or agents in all the major offshore & onshore jurisdictions.
Traditionally, our main business has been the setting up and management of offshore and onshore companies and trusts to assist with tax planning and asset protection. Now our range of services has expanded so we now offer a wide range of services such as asset management, capital raising, specialised tax advice, credit cards and others which are natural additions to our main activity. These are more fully described in Our Services. www.sovereigngroup.com
BRITISH VIRGIN ISLANDS (BVI)
The British Virgin Islands are a British dependency located in the Eastern Caribbean, about 80 kilometres East of Puerto Rico. English is the official language and the official currency is the United States Dollar. The Government is stable and promises to remain that way. There is a good commercial and professional infrastructure and the Government is actively encouraging the development of the offshore finance business and has now upgraded the Companies Registry by installing state of the art technology.
BVI became the clear market leader for corporate services in the Caribbean after the introduction of the International Business Companies Act in 1984 which created the International Business Company (IBC). This IBC became the industry preferred offshore company and was particularly popular in the Far East due to the extensive marketing of the jurisdiction particularly by lawyers who moved from Panama during the Noriega regime and set up offices in the BVI. The BVI Business Companies Act 2004 has now superceded and updated the IBC Act so the IBC has now become the BC (Business Company).
THE BVI BUSINESS COMPANY
A BVI business company has the following characteristics:
TAXATION |
They pay no taxes in BVI. |
SHAREHOLDERS |
A minimum of one shareholder is required and either registered or bearer shares may be issued. No details of the shareholders appear on the public file but a register of shareholders must be kept at the registered office address of the company in BVI. From January 2005, it should be noted that any bearer share certificates issued must be lodged in safe custody with an approved custodian. A higher annual Government licence fee of USD 1,100 is payable by companies whose statutes permit the issue of bearer shares even if there are none in issue. |
DIRECTORS |
A minimum of one director is required and corporate directors are permitted. Details of the directors do not appear on the public file. |
ANNUAL REPORTING |
No annual return or accounts need be filed. Penalty fees of up to 50% of the annual Government fee will be incurred if the licence fee is not paid on time. |
TIMESCALE |
Incorporation can be achieved within 24 hours however, it does take approximately 1 week for documents to arrive from BVI. We do keep shelf companies in stock available for immediate purchase. |
RESTRICTIONS
ON NAME ANDACTIVITY |
The following words, and their associated activities, cannot be used: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Co-operative, Fund, Imperial, Insurance, Municipal, Mutual Fund, Royal and Trust.
The following words, and their associated activities, cannot be used: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Co-operative, Fund, Imperial, Insurance, Municipal, Mutual Fund, Royal and Trust. |
LOCALREQUIREMENTS |
As a matter of local company law the company MUST maintain a registered office address within BVI and must also appoint a BVI resident as registered agent. We would generally provide these services as part of the domiciliary service fee. |
Sovereign Group of Companies
Sovereign has a wide range of services ranging from Corporate and Tax Planning to Asset Management, Legal Advice and Yacht Registration. Please see the list below for some of the companies in the Group.
Register a Yacht.com
An efficient and professional worldwide yacht registration service at competitive prices.
Sovereign Alternative
Focusing exclusively on issues that directly affect alternative lifestyles.
Sovereign Asset Management
Providing advice and management on investment related matters, specific to client needs.
Sovereign Group Partners LLP
Helping smaller corporates gain access to private equity capital and debt financing.
Register An Aircraft
RANA complete range of professional and highly tailored services to aircraft owners and operators Worldwide.
The Sovereign Art Foundation
A visual arts prize, to give recognition to some of the most important artists of our time.
Contact details
Sovereign Corporate Services JLT
Managing Director (Dubai, Bahrain)
John Hanafin
Contact: jhanafin@SovereignGroup.com
Languages Spoken
English, Hindi, Konkani, Arabic, German, French, Swedish, Portuguese, Polish, Spanish, Russian, Dutch
Location
801 Reef Tower
Jumeirah Lake Towers
P.O. Box 62201
Dubai
United Arab Emirates
| Telephone Number: |
|
|
+971 4 448 6010 |
|
Local FREEPHONE number: |
800 Offshore |
Fax Number: |
+971 4 448 6011 |
E-mail: |
dubai@SovereignGroup.com |
Sovereign (Abu Dhabi) Limited
Managing Director (Abu Dhabi)
Vikrant Pangam
Contact: vpangam@SovereignGroup.com
Languages Spoken
English, Hindi, Konkani, Arabic, German, French, Swedish, Portuguese, Polish, Spanish, Russian
Location
Office M-19
Executive Business Centre
Najda Street P.O. Box 112358
Abu Dhabi United Arab Emirates
Google Map
Local Freephone 800 Offshore
Telephone Number: +971 2 495 2786
Fax Number: +971 2 674 0066
E-mail: ad@SovereignGroup.com
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