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The British Virgin Islands consist of 60 separate islands, situated to the North West of the American Virgin Islands, 60 miles from Puerto Rico. The population is approximately 17 000 and the official language is English. It is a colony of Great Britain, with autonomous local government and its own constitution. Legislation is based on the English Law. |
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Incorporation
Fees |
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| Government fee |
US$ 350.00 |
| Registered office |
US$ 200.00 |
| Registered agent |
US$ 200.00 |
| Incorporation fee |
US$ 200.00 |
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| Total cost of incorporation |
US$ 950.00 |
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| BVI Business Company Legislation
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The British Virgin Islands Business Companies Act 2004 became the sole Business Companies Act in the jurisdiction on 1 January 2007.
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| Corporate Structure of a British Virgin Islands IBC
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- Only one director required - can be an individual or corporate
- Only one shareholder required - can be an individual or corporate
- A director can be a shareholder and vice versa
- No requirement for BVI residency for shareholder(s) and director(s)
- A secretary is not required
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| Confidentiality and Privacy
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The names of the Director(s) and Shareholder(s) of the Company are not filed with the Registrar of Corporate Affairs in the British Virgin Islands, therefore no information on the beneficiaries is on the public record.
Nominee services are permitted if required.
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| Share Capital of a BVI Business Company
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- Standard share capital is US$50,000 divided into 50,000 shares of US$1 each
- Shares may be issued with or without par value
- At least one share must be issued
- Bearer shares are permitted, but they must be held by an authorised custodian approved by the BVI Financial Services Commission
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| Taxation
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As per the BVI Business Companies Act of 2004, Business Companies not carrying on business in the BVI are exempt from all taxes.
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| Financial Statements and Company Records
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- There are no filings to the authorities in the BVI after the Company has been incorporated
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| Meetings of BVI IBC Shareholder(s) and Director(s)
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- Meetings of shareholder(s) and/or director(s) are not required.
- If a meeting is held it need not be in the BVI and participants can attend by telephone.
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| Doing business using a BVI BC
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A BVI BC can carry out any legal business and/or investment activity worldwide, they may not offer bank, insurance or trust services without prior authorization from the BVI Financial Services Commission.
Generally BVI BC’s cannot do business with BVI residents or corporations without losing their tax exempt status.
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| The BVI IBC incorporation package includes:
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- First year government filing fees
- Certificate of Incorporation
- Memorandum and Articles of Association
- Letter of appointment of first director
- Nominee shareholder details (if required)
- Declaration of Trust from the nominee shareholder (if a nominee shareholder
is required).
- Minutes of the first meeting of the founders
- Share Certificates
- Register of Shareholders
- Register of Directors
- Registered agent services, (first year)
- Registered office, (first year)
- International express delivery by FedEx or DHL
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| Names
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It is not possible to use a word (or words) in the name that are calculated to
suggest:
- The patronage of Her Majesty or that of a member of the Royal Family;
- A connection with Her Majesty's Government; or
- A connection with a municipality or other local authority or with a society
or body incorporated by Royal Charter.
Names must end with one of the following suffixes or an abbreviation thereof:
- Limited
- Corporation
- Incorporated
- Societe Anonyme
- Sociedad Anonima
The following words and their associated activities can not be used:
- Assurance
- Bank
- Building Society
- Chamber of Commerce
- Chartered
- Co-operative
- Fund
- Imperial
- Insurance
- Municipal
- Mutual Fund
- Royal
- Trust
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