Located in the Eastern Caribbean region, the British Virgin Islands are an English speaking Dependent Territory of the United Kingdom. The Islands are politically stable and possess a well-developed commercial and professional infrastructure. Since the introduction of the International Business Company in 1984, the Islands are now an eminent corporate domicile jurisdiction. There are now over 300,000 IBCs incorporated in the BVI, used for holding, trading and investments. The government has strengthened and enhanced legislation to prohibit the formation of offshore banks on the Island and has in return reduced money laundering activities greatly. As a result of its highly flexible and modern legislation BVI has become extremely popular in the offshore market.
The BVI Business Companies Act 2004 grants all BBCs in BVI complete exemption from tax. This includes exemption from capital gains tax and all forms of withholding tax. BBCs have minimal reporting requirements. The flexibility of this legislation enables fast and low cost incorporation.
Minimum of 1 directors required, of which 0 must be residents.
Corporate directors are permitted.
Director's meetings are not required
There is not a public director's register
Other notes: No requirement to hold annual meetings of Directors or Shareholders.
Minimum of 0 secretaries required, who need not be residents.
Corporate secretaries are not permitted.
There is not any requirement for secretaries to hold a professional qualification
Other notes: A resident representative is required
Minimum of 1 shareholders required
Corporate shareholders are permitted.
There is not a public shares register
Bearer shares are permitted.
No par value shares are permitted.
Usually the Authorised share capital is 50000 shares of USD1 each.
Where some or all of the shareholders are nominees, the ultimate beneficial ownership of the shares does not have to be declared to the authorities.
A registered agent is required.
An annual return is required.
Incorporation Fee: Please see Our Fees Schedule Heading
(The package fee includes government fees, local secretary fees, local agency fees, registered office fees and our service fees, and have the following after incorporation: a) certificate of incorporation b) Original formation documents and minutes c) Five copies of M & A
Opening Offshore Bank Account: Refer to Fee Schedule
Incorporation Time: 1-2 Weeks