BVI Companies
Background
• The leading offshore jurisdiction – more
than 50,000 incorporated per year
• High degree of market awareness and acceptability
• Excellent infrastructure and professional support
Introduction
The British Virgin Islands (BVI) is a group of islands
in the Caribbean Sea located approximately 80 kilometers
east of Puerto Rico. The BVI is a British Dependent Territory
which became self-governing in 1967 and is a member of the
British Commonwealth. Since introducing its International
Business Company (IBC) legislation in 1984, the BVI offshore
financial services sector has developed, and is now the
world's premier offshore centre with over 660,000 companies
incorporated.
Law And Taxation
Tax exempt company for international business. The legal
system is based on the English common law (although some
provisions from Delaware legislation have been included
in the IBC legislation) supplemented by local ordinances.
The user-friendly nature of this IBC legislation has assisted
the BVI to gain significant market acceptance. There are
no taxes levied on IBCs with the exception of the annual
government licence fee which is USD350 for companies with
an authorised capital of USD50,000 or less. Companies that
fail to pay their licence fee by the due date are subject
to penalties and will be struck off for non-payment five
months after the due date. There are no exchange controls
or restrictions on the flow of currency in or out of the
territory. Companies with higher authorised share capital
have a higher rate of government annual license fees.
Corporate Requirements
| Minimum Number of Directors |
1 |
| Minimum Number of Shareholders |
1 |
| Corporate Directors |
Allowed |
| Corporate Shareholders |
Allowed |
| Residency of Shareholders |
Non-Seychellois |
| Residency of Directors |
Any Nationality |
| Company Secretary |
Optional |
| Registered Office |
Yes |
| Registered Agent |
Yes |
| Language of Documents |
English or French |
| Name of Company |
English and French (Chinese company name can be included) |
| Authorised Share Capital |
Usually USD 100,000 |
| Annual License Fees |
(capital USD 50K) USD 350 |
| Disclosure of Beneficial Owners |
No |
| Telephonic Meeting |
Yes |
| Annual Return |
N/A |
| Annual Filing |
N/A |
| Directors Appointment |
In within 30 days of incorporation |
| Directors Filling |
At registered office address of company |
| Bearer Shares |
Yes, but lodged with approved custodian |
| Shelf Companies |
Yes |
Our Services
We can incorporate a company with your choice of name and
confirm the availability of names in advance. All companies
are provided with:
– a complete company kit
– including first subscribers minutes
– 3 copies of the M&A
– statutory registers format
In addition, we can assist clients in obtaining
– certificates of good standing
– registered agent certificates
– other certificates of corporate existence
We do not provide corporate management services but would
be pleased to introduce you to other professional firms
which do. We have a network of preferred and recommended
Professional Firms who have years of experience in the administration
and management of a company.
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