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BVI company what a mess to register!

#21
I am actually very surprised to hear that how come it takes so long for BVI. I registered a BVI last month and I have to say that I got all my softcopy documents in less than 48 hours. But then, my agent trust me and they have all my information. Whenever I email them to register a company, they can "recycle" my DD form. They filled up all my details for me and I just need to email them the signature page with the company name that I want.
 
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#22
Montecristo said:
I am actually very surprised to hear that how come it takes so long for BVI. I registered a BVI last month and I have to say that I got all my softcopy documents in less than 48 hours. But then, my agent trust me and they have all my information. Whenever I email them to register a company, they can "recycle" my DD form. They filled up all my details for me and I just need to email them the signature page with the company name that I want.
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That's logic that they are able to do that if they know you and they already have everything on record about you it is not a problem.

However if you introduce them a new client they will require the same shitty documents and they request from anyonelse :( It's awful what one has to provide.

Personally Icould get a BVI company within the same time frame, but new clients no way!
 
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#23
Admin said:
That's logic that they are able to do that if they know you and they already have everything on record about you it is not a problem.

However if you introduce them a new client they will require the same shitty documents and they request from anyonelse :( It's awful what one has to provide.

Personally Icould get a BVI company within the same time frame, but new clients no way!
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Not really as bad as many of you here imagine. In my job, either I will take an offshore company first then I later transfer to my customer. So my name is use many times for urgent cases. But if the customer does not need it urgently, they register using their own name. From the feedback that I had, as long as they provide proof of address and passport, they will also get a softcopy within 48 hours. For my case is, they have a copy of my passport for sure, only problem is the proof of address as they don't accept anything longer than 6months from the date of the document which I think is fair. Other than that, I don't think I have special treatment from my service provider.
 
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#24
You create the company in your name so you leave a trailing log! I would never want my name there. However, that may work, but how do you go about to provide these documents:

Certificate of documents other than passport or driver license
Certificate of passport and driver license
Reference letter for KYC

I will post the templates for this, it's insane!
 
#25
auric said:
You create the company in your name so you leave a trailing log! I would never want my name there. However, that may work, but how do you go about to provide these documents:

Certificate of documents other than passport or driver license
Certificate of passport and driver license
Reference letter for KYC

I will post the templates for this, it's insane!
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For me, to register an offshore company, the activities are all legal merger and acquisition. In another word, it is not illegal activity. To register a company is every easy for my case, passport and Proof of address only. What else I need? For notarisation, I just need to pay US$20 to have these 2 documents notarised and no question asked. Reference letter??? No need. I am sure. Because I referred my business partners or clients over, no need reference letter as well. You mean some service providers require it?
 
#26
Montecristo said:
You mean some service providers require it?
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Yes, I have contacted 4 different agent's that all require a reference letter from a professional + banker + notarizing + confirmation that the documents are true copies.

It is insane, I told them that so they send me this:
Fidelity Corporate Services Ltd (BVI) is subject to Anti-Money-Laundering laws in force in the British Virgin Islands. Under these regulations, we must verify the identities and personal data for all individuals to whom we provide any services.

These requirements are not our whim. They are legal regulations, enforced by the law. All licensed Registered Agents in the BVI (of whom we are one), are subject to the same rules.

There are no exceptions.
All information and documents provided to us under these provisions will remain strictly confidential, subject to the BVI Anti-Money Laundering Regulations 2008 and the BVI Banks and Trust Companies Act 1990. This information will not become part of any official public record.
Each actual owner (beneficial owner), director and shareholder of a BVI Company and each individual who is in any way authorised to issue instructions in regards of that Company, must provide the following documents to Fidelity Corporate Services Ltd:

[A] One document evidencing identity.
Type. In descending order of acceptability: Passport, national identity card, armed forces identity card, valid driving licence.
Features. Document must be valid and current, and must contain photograph of a reasonable likeness.
Form. A qualified person such as a Lawyer, A Medical Practitioner, Certified Auditor, Notary Public, Certified Accountant, Embassy Official, Consulate or High Commission of a Country, a Judicial Officer or a Senior Public Officer, including a Senior Police Officer, Customs Officer or Immigration Officer with responsibilities within his or her organization for issuing certified documents, a Director, Manager or Senior Officer of a Regulated or Licensed Financial Institution, Commissioner of Oaths or a Bank Manager, must certify a copy of the document. The name, address, status/position contact information and e-mail address of the certifier and the name of his or her organization (if any) must be clearly stated. The copy must be dated and certified as a “true copy of the original seen and the photograph being of a reasonable likeness to the bearer of the document.”

One document evidencing residential address.
Type. Utility bill such as water, electricity, telephone (mobile phone bill is not acceptable) or gas, bank statement, credit card statement, mortgage or credit union statement, local authority tax bill, local council rent card, statement of the residential address issued by the local municipality, notary or banker. Can also be a national identity card or driving license, if contains residential address and not already provided under [Section A].
Features. Document must indicate the full name of the individual together with his or her residential address. Document must also indicate the date.
Form. Document must be original and not older than 3 months. In case of ID card or driving licence, a copy certified, as described in [A].

[C] One bank reference or professional reference.
Features. Document must indicate the length of time for which the individual is known to the referee, being not less than three years and the nature of the relationship between the individual and the referee. If the individual’s residential address is expressly mentioned in the bank reference, as per banks’ records, a separate Proof of address document is not required.
Form. Must be an original and dated no later than 3 months old. We can provide sample wording at your request.

[D] Please provide proof of the company’s Source of Funds. How did you earn or obtain this money.
Type. Salary income, commissions, company profits, dividend income, investment income, rental income, inheritance,
family wealth.
Features. Document provided must be recent and dated no later than three (3) months old.
Form. Document must be an original or certified copy.

Note! If the individuals’ residential address can be confirmed, as per the current record of the bank, in the text of the bank reference, then a separate proof of address (item B) is NOT required!

2006 Individual client Due Diligence requirements, Fidelity Corporate Services Ltd (BVI).

All of these documents must be received in the offices of Fidelity Corporate Services Ltd (BVI) before any company formation or management orders can be completed. To expedite some services, scanned copies can be sent to us electronically at first, but they must be followed by the original copies! We will not send out any corporate documentation to clients before we are in receipt of all due diligence documents, in paper-form!

We appreciate Your time and effort!
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As you may read it is from Fidelity one of the major agents in the industry. However it looks like the other smaller agents in the BVI are following the exact same procedure.

I will send you a PM if you are able to incorporate BVI corps for similar pricing as they can but only require passport and utilitybill we have a deal I have many clients for you.
 
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#27
auric said:
Yes, I have contacted 4 different agent's that all require a reference letter from a professional + banker + notarizing + confirmation that the documents are true copies.

It is insane, I told them that so they send me this:


As you may read it is from Fidelity one of the major agents in the industry. However it looks like the other smaller agents in the BVI are following the exact same procedure.

I will send you a PM if you are able to incorporate BVI corps for similar pricing as they can but only require passport and utilitybill we have a deal I have many clients for you.
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That is simple. That is why I asked you how come so troublesome. But please keep it low profile. I mean for the low document required maybe good. What I like about my current service provider is their notarisation is good. No question ask, just pass over and they did it for me. Even for bank accounts, they do all the notarisation. Some banks need 11 documents but I guess no choice. That is why your expertise will come in handy. I can see that you know all these banking stuffs very well.
 
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#28
Got the same crap from them auric I don't know if it is because the agents you have found all using Fidelity as subcontractor or what this is about. However, I had no luck to find any BVI agent that don't require reference letter etc.

@Montecristo if you can do a BVI with just passport and utilitybill I'm in too, have some clients for you!
 
#29
If any of you get a company in the BVI with only passport and utility bill please let me know, I badly need one but don't want to provide all these documents because I can't :(

Please PM me if possible, thanks!
 
#30
Admin said:
Got the same crap from them auric I don't know if it is because the agents you have found all using Fidelity as subcontractor or what this is about. However, I had no luck to find any BVI agent that don't require reference letter etc.

@Montecristo if you can do a BVI with just passport and utilitybill I'm in too, have some clients for you!
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Hi Admin, you have my utmost respect here. I know the forum rules here which is why I don't put any service provider URL here. I know service provider well enough to give me something that works fast. PM me for contact infor.
 
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#32
#34
utibi said:
How much for BVI company ? please anyone?
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Like I said to all those who PM me, I paid US$1000 for it. I think is fair as my current service provider saved my a*s before. My previous service provider charged me US$1250 on renewal for the last few years and I felt like changing. My current service provider managed to get a BVI lawyer and issued a legal letter to my previous service provider at a very low cost and got me transfer out without paying my previous service provider. Because if I make a transfer using my previous service provider, they wanted to charge me US$700 for "administrative fee".
 
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#35
Thank you for the update. Yeah many of the agents / service providers charge a fee to transfer a company from one to another!
 
#36
Admin said:
Thank you for the update. Yeah many of the agents / service providers charge a fee to transfer a company from one to another!
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I respect that. But US$700 as "admin fee" that is too much. Lawyer fee is US$300 only. I saved US$400. I warned previous service provider and I said I am prepared to pay US$300, is wheather I pay the previous service provider or my BVI lawyer. They said no way and I issued the payment to my lawyer straightaway.
 
#40
okay @auric & @Admin please don't be some lazy chimps and don't update this thread if you get your BVI corps. I know you both work all day long to find the best setups for us people that want to play in the underground. If you have something please update this thread or PM me, I'm hooked!
 
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