BVI company requires lots of shitty documents to incorporate!

[openmind]

Hi Guys,


I was in the research phase to incorporate a BVI company and came across a few sites that are offering very cheap BVI company formation and opening of offshore accounts for the same! When I applied and made the payment they told me the real requirements which they didn't informed me about beforehand!!!!


Here we go:

• The requested documents are standard due diligence requirements for BVI counterparts. BVI KYC requirements are more detailed compared to Belize. Therefore, we require:
  
• Source of Wealth/Funds ”“ This may be in the form of a CV (proof of employment) or Bank statement.
  
• Bank reference and Professional reference issued by attorney/accountant ”“ This should indicate the contact number & email address of the bank/accountant/attorney.

It seems someone tries to misuse my identity or something! I asked if this is still required without bank account and they answered yes! What is going on in the BVI and why all these documents???

 

[JohnLocke]

Well it's possible to avoid these documents with some agent's, at least we have had‌ no troubles to get BVI corps. without these docs!

 

[openmind]

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[lavel]

There is nothing unusually with the required documents, however, personally speaking I find it overkill,‌ again BVI is belonging to the UK so they need to deal with certain international‍ regulations.

 

[porkmorck]

If I provide these documents would you consider it to be a safe harbor outside‌ of Europe if banking takes place say in Cyprus or Mauritius as suggest often on‍ this forum?

 

[porkmorck]

Even I send everything by scan / e-mail they require me to send color photo‌ copy of passport and everything by courier? WTF it is not a bank account I‍ want to open just setup a BVI company?? Is anything else suffering on the ridiculous⁠ policy?

 

[cosmo]

All over the world the increasing requirements to DD documents make it complicated to navigate‌ in this areas. The soon er you go offshore the better for & your privacy!‍ One thing is sure things going gets tough from now on!

 

[JohnLocke]

True, the requirements to the documents that have to be provided are increasing almost every months⁠ it get's harder to stay anonymous or at least to protect your privacy.

 

[lavel]

I must say after I yesterday tried to finally get my BVI incorporated and they‌ asked me to courier all the documents to them in the BVI I stoped the‍ process, it's too much.

 

[myhand]

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[JohnLocke]

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[JohnLocke]

They require you to send the original copy of passport and utility bill by‍ courier to the BVI, that will leave a track to you for some they may⁠ don't care while for others it's not the best that can happen!

 

[myhand]

Why they require copy it would be better to get he original notarized docs to be⁠ send after all! I don't want to open a company there not very satified with⁤ these requirements.

 

[myhand]

You got a refund for the cancelation‍ or you just don't care?

 

[JohnLocke]

It must be something to verify the address of⁠ the beneficial owner or something. I mean someone could send the docs from a different⁤ address or from a P.O. Box or let some Office service send it!!

 

[seat-my-business]

Lots and lots of requirements for nothing, why do you want a BVI company for‌ your business when you can't hide your identity at all!

 

[myhand]

learned that BVI is a no go for easy company formation, there are so many‌ other offshore jurisdiction where you can incorporate that it's not worth going through all this‍ to get a bvi corp.

 

[porkmorck]

I agree with you on that part and took my steps 🙂

 

[porkmorck]

[No content provided]

 

[lavel]

OP where did you get your company finally?