The site, which has the potential to support more than 2GW of wind, will be auctioned as a single lease.
Eight of the ten companies that expressed interest in obtaining a lease have qualified to participate, said BOEM.
These include Apex Virginia Offshore Wind, Energy Management, Dominion Virginia Power, EDF Renewable Energy, Fishermen's Energy, Iberdrola, Orisol Energy and Sea Breeze Energy.
BOEM director Tommy Beaudreau said: "After careful review, BOEM has determined that these companies are legally, technically and financially qualified to participate in the upcoming lease sale."
The sale, set for 4 September, is being conducted using an online bidding system.
BOEM will set an initial asking price for the lease area and increase that price incrementally based on the number of active bidders in each round until no more than a single active bidder remains in the auction.