Register a British Virgin Islands company with a corporate account in Hong Kong, without needing to travel. We can help you with the incorporation chores and the account set-up so that you can quickly launch offshore business operations.
Why Hong Kong and the British Virgin Islands? The British Virgin Islands is a fantastic location for offshore companies with a strong reputation, generous taxation, privacy protection, and a business-friendly system. The payment system we recommend in Hong Kong is flexible and ideal for small and medium-sized enterprises, allowing you to conduct international business seamlessly. If you set up a company in the BVI, with an account in a payment system in Hong Kong, you get a great combination that our experts recommend.
The Reputation of the British Virgin Islands Company Incorporation
BVI remains one of the most popular offshore jurisdictions for international company incorporation.
The popularity of this jurisdiction for company incorporation is the best proof of its most favorable environment for forming a successful offshore entity. It offers the following incentives:
Zero-tax on corporate income;
No taxes on capital gains, gifts, inheritance, sale, no VAT;
Excellent reputation and information transfer agreements;
Participation of the BVI in the Organization for Economic Cooperation and Development (OECD), the International Organization of Securities Commissions (IOSCO), the Caribbean Financial Action Task Force (CFATF);
Developed legislation and opportunities for doing business, creating funds, and registration of vehicles and aircraft;
Availability of international banks’ services;
Opportunities for international business development.
Over recent years, the British Virgin Islands’ legislation has been greatly upgraded in terms of compliance with the stipulations of international organizations. For example, some companies, such as banks, holdings, insurance, etc., are obliged to meet the economic substance requirements, i.e., to establish a local office and recruit local employees.
Additionally, effective 2 January 2025, BVI companies must comply with new filing requirements for registers of members, directors, and beneficial owners, stricter good standing conditions, faster director appointments, and expanded redomiciliation declarations—all aimed at enhancing transparency and regulatory compliance.
While there are more requirements, the British Virgin Islands remains one of the most flexible offshore jurisdictions, and, because of its changes in legislation, it has a stronger reputation.
Discuss the details with an expert
Check the list of required documents, and get the details of the process, terms, and costs.
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The Rules of the British Virgin Islands Company Formation
When registering in the BVI a limited liability company (the most popular legal structure type) it is necessary to indicate in its name one of the following abbreviations: “Ltd”, “Corp”, “Inc” or “S.A.” or “Societe Anonyme”, “Sociedad Anonima”, “Corporation”, “Limited” or “Incorporated”.
If the company has unlimited liability, you need to add “Unlimited” or “Unltd” in its name.
It is also allowed to use numbers instead of letters.
The owners of the company can be non-residents.
The authorized capital must be declared, but most often is not paid.
There may be only one director of a BVI company.
The application portfolio needed for registration includes the following documents:
- Certified copies of passports of the beneficial owner and the director;
- Proof of residence address of the beneficial owner and the legal owner.
Incorporation Documents:
- Memorandum and Articles of Association
- Completed application form via a licensed Registered Agent
Register of Directors:
- Appointment of first director(s) within 15 days of incorporation
- Filing of the Register of Directors within 15 days of appointment
- If using a professional (licensed) director, include:
- Name of the Licensee (FSC-licensed)
- Name and address of individual acting on behalf of the Licensee (if applicable)
Register of Members (Shareholders):
- Initial Register of Members filed within 30 days of incorporation
Register of Beneficial Owners:
- Filed within 30 days of incorporation
- Must identify the natural person(s) who ultimately own/control the company
Registered Office and Agent:
- Local registered office address in the BVI
- Licensed BVI Registered Agent responsible for filings and compliance
Due Diligence/KYC Documents:
- Valid passport copy and proof of address for directors, shareholders, and beneficial owners
- Additional KYC documents as required by the Registered Agent
Remember, our team will help you fulfil these requirements and fill in the documentation for an efficient and successful registration process.
The Costs of the British Virgin Islands Company Registration And Maintenance
The fee for the BVI company setup services starts from US 3,950. It includes the following deliverables:
- A registered Company;
- The state duties;
- Articles of Incorporation/Memorandum;
- Minutes and the Letter of Appointment of the Director;
- A Written Resolution of the Director;
- Registers of Directors, Shareholders;
- The share certificate.
The fee for fast-track opening of a corporate account with a payment system in Hong Kong (within 8 business days) for your BVI company starts from EUR 2,999. It includes the expedited preparation of notarized copies of all relevant documents.
The annual company renewal fee is EUR 2,950.
A company seal is optional, but commonly used for formal documents. You can order it from us or make it yourself.
The BVI allows nominee services, and they are available locally.
You are welcome to contact us for details and assistance in contracting reliable professionals.
Corporate Accounts with a Payment System In Hong Kong
All offshore companies face specific challenges when opening accounts, both in their country of incorporation and abroad, particularly for small and medium-sized businesses with limited history.
A modern payment system in Hong Kong comes to the rescue, offering services to companies both in and outside of the Hong Kong Special Administrative Region.
The payment system opens accounts for companies from Hong Kong, Singapore, and the British Virgin Islands.
Specifics of the recommended Hong Kong payment system:
Multicurrency accounts, including USD, EUR, HKD, GBP, CHF, CAD, other currencies;
Remote opening of the account;
Fast due diligence;
Unique account numbers for single-currency accounts;
Favorable currency exchange.
Documents Required for Opening an Account in Hong Kong with a Payment System
- A certified true copy of the Business Registration Profile or a similar document, including the company’s legal name, registration number, date of incorporation, registered address, details of directors, shareholding structure, and other relevant information.
- The company’s Memorandum and Articles of Association, outlining the powers that regulate and bind the company.
- Information on the company’s ownership and control structure, e.g., an ownership chart.
- For each Director, Shareholder, and Beneficial Owner: a copy of the passport and proof of residential address (a utility bill or bank statement dated within the last three months).
A brief description of the company’s business activities and corporate structure must also be submitted.
The Restrictions Set by the Payment System regarding the Use of an Account in Hong Kong
The payment system has two types of restrictions: by country and by activity type.
Restricted countries and territories for outgoing payments:
- Afghanistan
- Belarus
- Bosnia and Herzegovina
- Burundi
- The Central African Republic
- Crimea
- Eritrea
- Cuba
- Guinea
- Guinea-Bissau
- Iran
- Iraq
- Lebanon
- Libya
- Mali
- North Korea
- North Sudan
- Russia
- Somalia
- South Sudan
- Syria
- Venezuela
- Yemen
- Zimbabwe.
The payment system does not support accounts for businesses engaged in the following activities, regardless of licensing status:
- Anonymous accounts, shell banking, or misrepresentation of identity
- Sale, manufacture, or distribution of illegal drugs and controlled substances
- Production or distribution of explicit adult content involving illegal or non-consensual acts
- Gambling services without proper licensing, or where such activities are prohibited by law
- Trade in counterfeit, unauthorized, or stolen goods
- Trade in weapons, ammunition, explosives, or related components
- Human trafficking, forced labor, or exploitation
- Tax evasion, financial fraud, or participation in pyramid schemes
- Creation or dissemination of malware, spyware, or unsolicited advertisements (spam)
- Operating a regulated business without the required licenses or permits
- Promotion of hate speech, extremist content, or discriminatory practices
- Any activity deemed illegal under the laws of Hong Kong, the United States, or international law
The Cost of Opening an Account in Hong Kong
The cost of the account opening service starts from EUR 2,999. The procedure is performed remotely. If the business has a complex structure or is engaged in specific activities, the payment system charges an additional fee for consideration of the application.
Arrange a Consultation
Want to get started, but want further guidance? You have two options. You can have a complimentary, fifteen-minute consultation, ideal if you want to get started or learn about our service, or a one-hour consultation for 300 Euros, currently, normally 500, with an expert, if you want to dive deeper.
The Procedure: How to Register a British Virgin Islands Company with an Account in Hong Kong
Please send a message to qwealthreport.com experts about your wish to register an offshore company in the BVI and open an account in Hong Kong.
Discuss your detailed plans with our experts and make sure that the recommended solution is right for you. Please note that the payment system is best suited to small and medium-sized businesses.
Pay the set-up fee starting from 5850 EUR
Submit the documents.
After we receive your payment and documents, we will make all necessary arrangements for the company registration and an account set-up. You do not need to travel, everything will be done remotely for you.
You get access to the company and the account and can start the business operations.
For any further information, advice, services you are welcome to contact us at the e-address given at the top of this page.
