British Virgin Islands
British Virgin Islands (BVI)
BVI Business Companies are highly popular and often used offshore companies because of their administrative simplicity, flexibility, tax exemption status, and above all, acknowledgment and recognition by the global financial community.
British Virgin Islands Companies
BVI company requires a minimum of one owner, one shareholder, and one director. They can be either private or corporate entities of any nationality. One entity can act as owner, shareholder, and director. The management structure of BVI company can be tailored in an accordance with a wide range of client’s requirements. A company with a sole director/member/shareholder may appoint an additional director to take his/her place in the case of bereavement.
BVI company may be incorporated as: a company limited by shares, a company limited by guarantee (with or without authorization to issue shares), an unlimited company (with or without authorization to issue shares), a segregated portfolio company, and a restricted purpose company.
BVI company may:
What are the steps to forming a BVI company?
In addition, the following documents must be translated to English (if originals not in English): Drivers license, utility bill, bank account statement
*Documents should be certified by Independent Lawyers, Bank Managers, Accountant, Notaries, and Embassy Officials in English
Bank account opening
|2100 USD||Document certification|
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Frequently asked questions
A BVI Business Company is exempt from the BVI income tax, the same exemption applies to all dividends, interest, rents, royalties, compensations and other amounts paid by a company, and all capital gains realized with respect to any shares, debt obligations or other securities of the company. No estate, inheritance, succession or gift tax is payable with respect to any shares, debt obligations or other securities of a BVI BC. All transactions and instruments relating to transfers of any type of property of assets, shares, debt obligations or securities to or by a BVI BC are exempt from the stamp duty, with a sole exception for land-ownership transactions in the British Virgin Islands, in which case stamp duty remains payable.
BVI Business Companies does not have an obligation to prepare or file financial accounts. However, records must be kept that are sufficient to show and explain the Company’s transactions; and will, at any time, enable the financial position of the Company to be determined with reasonable accuracy. Such records do not have to be kept in the British Virgin Islands and the location for keeping such records can be freely determined by the owners of the Company, and there is no requirement whatsoever to file or otherwise make public any commercial or financial records of the Company.
- Certificate of Incorporation
- Appointment of First Director
- Register of directors
- Register of Members
- Share Certificate
A BVI Business Company may not be registered under a name that is identical to the name of an existing BVI company, or is so similar to the name of an existing BVI Company, that, in the opinion of the Registrar, the such name would be likely to confuse or mislead. As the BVI Registrar of Companies has a name-reservation system, a reserved name would also be considered as an already existing name.
Without obtaining prior written content of the Financial Services Commission, a BVI Business Company may not be registered under a name that contains a “restricted” word or phrase (according to a published list of such restrictions) – such as the words “Assurance”, “Bank”, “Building Society”, “Chamber of Commerce”, “Chartered”, “Cooperative”, “Imperial”, “Municipal”, “Royal”, “Trust” or any word conveying a similar meaning, as well as any name suggesting the patronage of the British Royalty, British, BVI or any other government or its department.