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Company Formation Guide
British Virgin Islands Company Formation
Mirr Asia provides BVI company formation for general corporates as well as ICO corporates with relevant consultations. Mirr Asia is a trustworthy business consultant that provides successful BVI corporation establishment.
Overview · 01
BVI (British Virgin Islands) Incorporation Guide
(Same for for-profit and nonprofit companies)
Estimated Turnaround Time (Incorporation): 7 business days, after all documents are obtained
Incorporation Requirements:
- Must have at least one shareholder and one director, one person can be both shareholder and director.
- No restrictions on the nationality of shareholders or directors at the time of incorporation
- Some industries may not be able to be incorporated or may require a license, so check beforehand
- (For non-profit companies, capital contributors are called members instead of shareholders, and the establishment requirements are the same)
Fees · 02
Establishment Fee & Included Services
Establishment fee: USD 3,000 (based on capital of USD 50,000 or less) *Same for for-profit and non-profit companies
Annual renewal fee: USD 2,000 (annually)
Includes:
- 1. Company registration
- 2. Articles of Incorporation and incorporation documents required for company formation
- 3. Government registration fees
- 4. Company formation agent
- 5. Certificate of incorporation
- 6. Director's appointment letter and acceptance letter
- 7. Register of members and directors
- 8. Registered BVI Local Company Agent (1 year)
- 9. Provision of local business registered address (1 year)
Additional cost:
- Notarized copy of registered documents: USD 575
- Certificate of Incumbency: USD 400
- Registration and management of accounting and financial data storage address (1 year): USD 300
Banking · 03
Bank Account Opening
Account opening arrangement and advisory service fee: USD 2,000 (USD 500 discount if combined with incorporation)
VP Bank (BVI)
Opening requirements: USD 100,000 initial deposit + purchase of financial instruments
Bank of Asia (BVI)
Requirements: Initial deposit of USD 25,000 + shareholder/member's proof of source of wealth (bank statement, stock portfolio or real estate asset statement, etc.)
Documents & Procedure · 04
Requirements and Documents to be Prepared at the Time of Establishment
- A copy of the shareholder/director's passport
- Original fact authentication for the passport copy of the shareholder/director
- Korean passport: English passport copy certificate (issued by the ward office) ( View sample )
- Passport from other countries: Certified True Copy or Notarial Certificate ( See sample )
- Two types of documents for the most recent (within 3 months) address in English for shareholders/directors (however, the address must be the same)
- Residency in Korea: English certified copy (community center) + scan of the front/back of the driver's license ( View sample )
- Residence in another country: Utility Bill + Bank Statement (or equivalent official document) ( View sample )
- Expert Recommendation Letter — confirmation of customer relationship for more than 2 years from experts (accountant/lawyer/tax accountant, etc.) ( View sample )
- Bank statement in English for the last 3 months or BANK REFERENCE LETTER
- English resume (CV/RESUME)
- Fill out the application for incorporation ( Go to application )
Procedure:
- 1Submit the required documents for the shareholder/director to be registered.
- 2Pay the establishment cost.
- 3Confirm whether the corporation name is available.
- 4Sign the incorporation documents provided by our company and send them by international mail.
- 5Proceed with establishment after receiving the documents.
- 6Complete incorporation within 7-10 days after receipt of documents.
*If you wish to open an account after establishment, please contact us in advance.
FAQ · 05