Profile

Location
The BVI consists of over 50 islands and cays in the Caribbean Sea with a land area of 155 square kilometres. The nearest territory is the U.S. Virgin Islands, with the Leeward Islands to the South-East and Puerto Rico to the West.

Population
15,000 residents inhabit the BVI, with over 10,000 living on the largest island, Tortola.

Language
The official and spoken language is English.

Finance
The official currency of the BVI is the U.S. dollar.

Legal
The BVI is a British dependant territory.

Taxation
There is no taxation on business carried out by non-BVI residents outside of the BVI through BVI companies.

Incorporation
Shelf companies are available for immediate use. See our shelf company name list. Incorporation with a name of your choice if available can be completed within 14 working days. A standard International Business Company is usually incorporated with an authorised capital of USD 50,000.00

Features
No tax is imposed on offshore company operating International Business Companies.
The privacy of Shareholders and Directors names is protected
No local Directors, local meetings or annual returns are necessary.
Bearer shares are common

TOP

• carry on business with persons resident in the BVI
• own an interest in real property in the BVI other than a lease of property for office use
• carry on banking or trust business unless licensed to do so
• carry on business of insurance or re-insurance agent or broker unless licensed to do so
• carry on company management business unless licensed to do so
• provide registered office facilities for BVI incorporated companies

• It does not include a word indicating a connection with the Royal family or Government.
• Government approval is required to use the words: Assurance, Bank, Building Society, Insurance or Trust.
• The name may be in any language and may use any suffix to indicate a limited liability: A.G., B.V., Corporation, Corp., GmbH, Incorporated, Inc., Limited, Ltd., N.V., Societe Anonyme, S.A.,

• The IBC must have one or more Directors.
• Individuals and corporations can be Directors.
• Individual Directors can be of any nationality and do not need to be resident in the BVI.
• The IBC Ordinance does not require that a register of Directors be maintained.
• Any register of Directors so maintained is not available in any public register.
• Directors and Shareholders may hold meetings over the telephone.

• An IBC may have a single shareholder.
• An IBC is permitted to hold shares in other BVI companies.
• An IBC is required to keep a register of members and a copy must be kept at the registered BVI office. The registered agent must be notified whenever changes occur. This register of members is not available to the public.
• There is no requirement to hold an Annual General Meeting.
• An IBC is not required by the IBC Ordinance to maintain a register of transfers of shares.
• Shares can be issued as registered shares or bearer shares.
• Shares can be issued in any currency.
• There is no minimum capital requirement.

• The annual licence fee for an IBC with an authorised capital of US$ 50,000.00 is US$ 300.00.
• If the authorised capital exceeds US$ 50,000.00 an annual fee of US$ 1,000.00 is required.
• All IBCs with anniversaries from January to June must pay their annual licence fee by May 31. Thereafter penalties are imposed:
  If paid between June 1 to July 31 - 10% of licence fee
  If paid between August 1 to October 31 - 50% of licence fee
  If not paid by November 1 - struck off
• All IBCs with anniversaries from July to December must pay their annual licence fee by November 30. Thereafter penalties are imposed:
  If paid between December 1 to January 31 - 10% of licence fee
  If paid between February 1 to April 30 - 50% of licence fee
  If not paid by May 1 - struck off