Package OJ-1: BVI Company incorporation + Bank account in Singapore
About this package
BVI Business Companies(BC’s) are a very popular and widely used offshore companies because of their administrative ease, flexibility, taxation exempt status and the fact that they are widely accepted and understood by the international financial community. BVI is a popular choice for tax planning and investment holding purpose. A Company in BVI can be incorporated without actual visit. The company need not own any real property in the BVI, and it may not carry any business in BVI.
After incorporation a BVI company can also open a bank account in Singapore and use it for transacting their business. This can be especially helpful if you are looking for a flexibility of keeping your funds in an economically stable country, for further business use.
Since in this case the bank is approving an account for the business registered out of Singapore the checks they carry are usually through. Therefore it is important that you provide all relevant information about your existing business, copies of contracts, invoices etc as requested.
BVI companies comes in different packages and with different options. However to be able to open bank account in Singapore for a BVI company you need to have specific documents and clauses in Memorandum and articles of association. This generally increases the cost of incorporation.
We require following documents from you
You can send us scanned copies of these documents, and bring original documents for verification during your visit to Singapore.
Documents must be in English, otherwise official translation will be required.
Package price is explained in two parts. First the cost at the time of initial setup and recurring cost for subsequent years
Drop us a note to know the cost of this package
BVI company incorporation takes a week's time. The package includes following;
|1||Certificate of company incorporation|
|2||Memorandum and articles of association of the company|
|3||BVI Company stamp|
|4||Necessary guidance for opening bank account|
|6||First board meeting minutes|
Process flow : Following steps are involved in this company incorporation process
Provide all relevant details as aboveProvide the scanned copies of documents and our forms with relevant details
Consultation with bank representativeWe will pass above details to the bank representative and get indicative approval for bank account
PaymentYou will be required to make the payment once bank representative provides his indicative pre-approval.
BVI IncorporationAfter the payment we will send details for BVI company registration. Company usually gets incorporated in a day and it takes another 3-4 days to receive documents at our office.
Your visit to Singapore for bank account openingAfter the BVI company is incorporated you will need to visit Singapore for completing bank account opening formalities. Usually a visit for 2 days will suffice.
Bank documentsBank will process your account in few days and send all the documents to you at your address