If you decide to pay for your business name registration by invoice, the email will send to you via email in 48 hours and you must make payment within 10 days.
Once the registration of the business name is done, you will receive a copy of your record of registration through an email. You can then start doing business using the registered business name.
You are required to update your details if any changes in your details occur. For instance, if you have relocated to a new address.
You must have your business name displayed prominently such as at the store entrance. You must also ensure that your business correspondence like invoices or purchase orders shows the name of your registered business and ABN.
If you have registered your business name, then you will need to renew it annually or every three years through ASIC. 30 days before the renewal date, they’ll send a renewal notice. As soon as you get it, you may renew online via ASIC Connect or apply for our help.
To protect your trade name and the right of use, it’s suggested that you register a trademark. This type of intellectual property protection helps you protect your brand, goods or services from infringement.
Every business should focus on protecting its brand. Protecting it necessitates registering trademarks on your business name and logo. We serve businesses of all sizes on pre-negotiated fees for trademark registrations. We streamline the entire process for you with the assistance of our expert trademark consultants. We are operating nationwide throughout Australia, catering not only to clients from Sydney and Melbourne but also beyond. Feel free to get in touch if you have any questions.
For the past three decades The British Virgin Islands (BVI) have been thought of as a place to form offshore companies. If you want to incorporate your Taiwan company in the BVI this is what you need to consider.
About 80 kilometers off the coast of Puerto Rico today, the British Virgin Islands (BVI) has become a world-renowned jurisdiction for corporate trusts and establishment of offshore companies. Currently there are over 500,000 foreign businesses incorporated in the BVI.
Its eminence as an offshore financial center began with the enactment in 1984 of the International Business Companies Act, providing for the establishment of International Business Companies (IBCs) on its territories.
BVI is a semi-autonomous territory and IBCs are virtually the only business entity for foreign companies (and persons) looking to incorporate an entity in the BVI. As the BVI, being an Overseas Territory of the UK, comes under British jurisdiction in terms of business and common laws–the only recognised and established international business hub outside the US–it is also much freer to decide its incorporation laws and corporate tax.
The BVI operates a system of Territorial Tax. In fact, for a company incorporated in the BVI yet running its business outside the territory, there are no corporate taxes at all. Items not taxed for these companies are income, capital gains; customs duties, sales and profits; inheritances, dividends, interests and royalties.
For instance, when the International Business Companies (IBCs) conduct business locally are they subject to taxation by the BVI government–for instance if an IBC operates within the BVI’s islands or employs local people. The government’s revenue from foreign-operated IBCs is, for the most part, generated through foreign company registration and licensing fees. Such fees are often higher than incorporation costs in onshore jurisdictions.
Since BVI is a place where withholding taxes are not levied, it has Tax Information Exchange Agreements (TIEA) instead of Double Taxation Agreements (DTAs) with other territories. Under a TIEA, the BVI must provide tax-related information to other jurisdictions when required by law.
As a British Overseas Territory, the BVI cannot sign or ratify international corporate tax conventions in its own right. Therefore, conventions in the BVI are largely based on those of the UK. Moreover, the government of the UK may extend to the BVI its ratification of any convention.
Why Choose the BVI? The attractiveness of the BVI as an offshore jurisdiction lies in the streamlined procedure for incorporating an International Business Company (IBC) with strict regulations and requirements compare to other countries.
Some financial centers require a local director and shareholder who reside in the country, but in the BVI only one general director and shareholder (without restrictions of nationality) are needed to set up a new lBC. BVI annual meetings have no legal obligation to take place within the territory; they can convene anywhere in the world.
The shares can be issued in any currency and with or without par value, but may not total more than 50,000 (additional charges apply for issuing over this number). There are not compulsory audits each year, but merely keeping them is considered prudent accounting practice.
It is easy to deregister a company in the BVI (although there is still a risk that creditors may succeed in restoring a company listed as struck off). Liquidating a company is, in theory, a very complicated business. But companies which don’t renew their registrations after a period of time can simply be struck off without any further punishment; unless extenuating circumstances apply. If the company wishes to liquidate without renewing its fees on an annual basis, all records concerning the company and its business must be preserved for a period of several years.
Hong Kong Work VisaSecondly, setting up and maintaining BVI company structures requires less effort as there is no mandatory audit reporting and tax filings, so they are cheaper than other structures to set up. BVI entities are also recognised jurisdictions, and as such they can open up corporate bank accounts. Many entity operations or international banking transactions require these facilities.
The British Virgin Islands (BVI) is proud of its exemplary business information confidentiality practices. At present there’s no obligation to disclose any company beneficial owner publicly, but this seems likely to change in the future. But the data must be accessible to the registered agent (who is appointed by the company) of an International Business Company (IBC). Proper documentation testifying to the true owner, such as a declaration of trust, can be used for greater privacy. Nominal directors and shareholders also are available (17).
Authority accordingly, Found situated properties declares that registered business agents in the BVI are required only to reveal ownership of a company under lawful requests issued by another.
In fact, although it is allowed in the BVI for IBCs to issue bearer shares through an authorized custodian, today’s circumstances (in particular, dominated as they are by the Common Reporting Standards and Automatic Exchange of Information) make this rarely a practice.
In addition, the BVI guarantees confidentiality by using Trust Structures as the owners of underlying IBC companies. A BVI Vista trust, operating under the guise of a Private Trust Company (PTC), is appointed as trustee to a Trust that itself holds the underlying IBC. By doing so, the trust empowers owners to self-manage trust assets as well as the underlying company without being accountable to the trustee for their decisions.
In terms of the available type and variety of corporations and trust structures, BVI is undoubtedly one of the most varied financial centres in the world. New IBCs incorporated in the BVI can be registered under any of these names or suffixes:
In addition, the BVI allows company names to be registered in (Mandarin) Chinese. Because of this, the BVI has become one of the that are most highly preferred by clients from China, Hong Kong and Taiwan.
In addition, the BVI allows company names to be registered in (Mandarin) Chinese. Because of this, the BVI has become one of the that are most highly preferred by clients from China, Hong Kong and Taiwan.
While setting up a company in the BVI does save on audit report and tax filing requirements, companies must pay an annual fee to keep their company active.