BRITISH VIRGIN ISLAND COMPANY FORMATION

BVI (British Virgin Islands) Incorporation Guide

 

Estimated time required (incorporation) :

After obtaining all documents, it takes 7 business days

Establishment Requirements:

There must be at least one shareholder and director, and one person can concurrently serve as a shareholder and director.

No restrictions on the nationality of shareholders or directors at the time of establishment

Depending on the industry, establishment may not be possible or a license may be required, so prior confirmation is required.

 

Establishment cost: USD3,000 (based on capital within USD 50,000)

Annual renewal fee: USD2,000 (yearly)

 

Included:

- Establishment of corporation

- First year corporate license, local agent registration and local registration address provided

- Certificate of Incumbency

 


Requirements and required documents for incorporation:

1. A copy of the shareholder/director's passport

2. 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  )
 
3. 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 the front/back of the driver’s license  ( View sample )
   - Residence in another country: Utility Bill + Bank Statement (or equivalent official document)   ( View sample )

4. Expert Recommendation Letter
   - Expert Recommendation:  Confirmation of customer relationship for more than 2 years from experts (accountant/lawyer/lawyer/tax accountant, etc.)  ( View sample )

 

5. Bank statement in English for the last 3 months or BANK REFERENCE LETTER

6. English resume (CV/RESUME)

 

7. Fill out the application for incorporation  ( Go to application )

Procedure:
1. Submit the required documents for the shareholder/director to be registered:

2. Payment of establishment cost
3. Confirmation after confirming whether the name of the corporation is possible
4. Sign the incorporation document provided by our company and send it by international mail
5. Proceed with establishment after receiving documents
6. Incorporation within 7-10 days after receipt of documents
completion

*If you wish to open an account after establishment, please contact us in advance.

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