Incorporation • Jurisdiction
The British Virgin Islands
Why choose the BVI?
The BVI is a well-known and widely trusted jurisdiction across the world
Business friendly environment
Trusted by leading companies, investors and lawyers around the world
BVI exempted company
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Journey
Process of digitally incorporating a BVI Exempted Company on Clara
Initial Information
01
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Nature of business
02
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Articles of Association
03
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Share capital
04
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Pay and Submit
05
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Review and Sign
06
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Track your progress
07
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Find out more about the exempted company license. Clara’s got you covered in BVI.
Benefits
Learn more about the benefits of BVI
A BVI exempted company can be incorporated with a minimum of one director and shareholder, and they do not need to be resident in the BVI.
The application process is done online, and all documents can be signed digitally on Clara. There is no requirement for any parties to be physically present in the BVI Islands for the incorporation process. The company is typically incorporated within 3 to 5 days.
The BVI Islands is a tax-neutral jurisdiction. There is currently no corporate, income, capital gains or any other tax on money earned outside the territory.
There is no minimum share capital and no maximum number of shares or shareholders. There is no restrictions on the nationality of the shareholders.
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Resources & Insights
Stories, updates and resources
The anatomy of a Term Sheet
A term sheet is a relatively short document setting out the key terms of the investment agreed upon between the company and the investor in user-friendly language. It is also referred to as a Memorandum of Understanding (MOU). It includes the business and finance terms and could include legal terms regarding confidentiality and dispute resolution.
Binance uses Clara to incorporate and manage ADGM entities. The team at Clara are extremely efficient and go the extra mile to ensure we always have a smooth experience and meet our deadlines. Top-notch service!
Starting a company is hard enough, but managing legal processes shouldn’t be. With Clara’s dedicated accelerator onboarding solution, companies can get the support and infrastructure they need to efficiently and professionally complete their legal due diligence and finalize an investment.
Clara is a one-stop shop for everything equity related. All our data is safe and securely stored and accurately recorded. And our investors love having direct access. It has saved us countless hours and kept our cap table mistake free.
We spend a lot of time educating founders on basic legal concepts: what they need to do for us to invest in them. Clara automates these functions. As Clara’s first institutional investor, we knew intuitively from inception, this company will be a game changer.
You can’t beat Clara’s ESOP functionality. It allows us to grant options to our team in a few clicks while automatically updating our cap table. Truly next level.
Founders often struggle with managing their legal function due to lack of expertise and resources. And we’ve seen poor legal structures create hurdles to our investing in otherwise healthy startups. Investors like ourselves love that Clara gives founders the tools they need to establish, grow and scale their startups from day one on a best-practice basis.
US cap table solutions aren’t tailored to the differentiated needs of international startups. Clara is the only cap table provider we found that had emerging market startups in mind. Add to that all the other things you can do on the Clara platform, from building your ESOP to data room management, and switching was a no brainer.
From company formation to maintaining the cap-table, by using Clara founders can digitally form their companies in a range of jurisdictions, create and manage their cap-tables and generate legal documents. Clara is quickly becoming an integral part of the startup software stack.
Clara is a must-have for founders. Not only does it provide all the legal tools you need in a single platform, using Clara also signals to investors that you are a serious startup.
IP Assignments, what? I didn’t even know they existed before Clara. For startups, setting up governance, corporate structures, data rooms and fundraising are all hard to get right. Clara’s legalOS is premium. It pays for itself.
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Frequently asked questions
A Cayman Exempted Company can be used as a passive holding company or TopCo that holds shares in operating companies. A Cayman Exempted company should not be used for active commercial activities. You should not employee people from your Cayman company, this should happen at the operating company level instead.
You will need to tell us the purpose of the SPV, its proposed name, who will be the shareholder(s), director(s) and authorised signatory and provide their identification information and documents. For a full list so you can start preparing now, click here.
No, the Cayman Islands is a tax-free jurisdiction. You will not need to pay company, individual, or capital gains tax.
A Cayman Exempted Company has annual, and event driven obligations. The annual obligations include and filing an economic substance declaration, paying the renewal fee and filing the annual return on or before the 31st of December. If changes occur to the company (such as a change of directors or shareholders), this will trigger a requirement to update the company books and / or the Registrar. For more information, click here.
Incorporating your Cayman Exempted Company can take approximately 5 – 7 days from submission to the Cayman registrar.
In order to speed up the process, be ready with up-to-date KYC for each shareholder and director. Corporate shareholders often take more time due to the requirement to collect KYC on the ultimate beneficial owners all the way up the group structure.
What are you waiting for?