Which option accurately describes the virginia company and its purpose? the virginia company was chartered by the dutch republic, and its purpose was to protect the state’s trade in the indian ocean. the virginia company was chartered by the republic of the seven united netherlands, and its purpose was to establish settlements in the west indies. the virginia company was chartered by great britain, and its primary purpose was promoting trade with india and china. the virginia company was chartered by king james i, and its purpose was to establish settlements in jamestown.