BVI Corporation

British Virgin Islands Company

	All inclusive — BVI Business Company — Package #1 (without Nominee Director) — 1090 USD
	All inclusive — BVI Business Company — Package #2 (with Nominee Director) — 1690 USD

Facts at a glance

The offshore world is highly competitive with many jurisdictions seeking the attention of the international business and investment community. The BVI Company legislation, in an attempt to meet this challenge has had to be creative and flexible with features which make the process uncomplicated and efficient.

As a leading offshore jurisdiction, the BVI offers many advantages in addition to high quality service. The BVI IBC was formally renamed the BVI Business Company but retained the very same features of the international business company. The BVI continues to be a competitive offshore jurisdiction in company incorporation and offshore financial services.

British Virgin Islands Companies Advantages:

Progressive legislation

The BVI company legislation was introduced in 1984 but was developed and subsequently amended taking into consideration the changes required by the industry.

Efficient BVI Business Companies Formation

Under normal circumstances, BVI companies can be incorporated within 3 working days.

Flexibility in BVI company structure

• Only one director and shareholder required for the BVI company formation.
• Shareholder(s) and director(s) may be the same person.
• The shareholder(s) and director(s) can be a natural person or a corporate body.
• There is no requirement to appoint local shareholder(s) and director(s).
• There is no requirement for a resident secretary.

Privacy for identity of principals

The BVI company registration documents do not carry the name or identity of any shareholder of director. The names or identities of these persons do not appear in any public record.

Confidentiality

Shareholder(s) and director(s) nominee services are allowed to ensure confidentiality of beneficiaries.

Shares and capital requirements of a British Virgin Island Company

• Shares can be issued with or without par value;
• Shares may be issued in any recognizable currency or in more than one recognizable currency;
• Shares may be paid up in cash or through the transfer of other assets or for other consideration;
• The standard share capital is USD $50,000 or an equivalent in another recognizable currency.

Minimum capitalization

The minimum paid in and issued capital may be one share which is fully paid.

Taxation in BVI on IBC Profits

According to the IBC Act of 1984, offshore companies are exempted from all taxes for a period of 20 years.

British Virgin Island Company Books and Records

BVI company records and accounts do not have to be held or filed with the authorities. If the shareholders, directors or officers decide to maintain such records or accounts for their BVI companies, these may be held anywhere in the world.

Annual financial statements and other records for BVI Companies

• There is no requirement for any financial statements, accounts or records to be kept for BVI corporations;
• If it is found to be desirable or necessary by the director(s) or shareholder(s) these records may be held anywhere in the world.

Meetings of shareholder(s) and director(s)

• There is no requirement for meetings of shareholder(s) and/or director(s)
• If meetings of shareholder(s) and/or director(s) are desirable these meetings can be held by telephone or any other electronic means of communication providing that all participants can clearly hear each other.
• Meetings if thought necessary can be held anywhere in the world.

Doing business with BVI companies and residents

BVI offshore corporations are restricted from doing business with BVI residents or companies except where:

• It makes or maintains professional contact with solicitors, barristers, accountants, bookkeepers, trust companies, management or secretarial companies, investment advisors, or other similar persons or entities carrying on business within the BVI.
• It prepares or maintains books and records within the BVI (if it decides to keep such books and records).
• It holds within the BVI, meetings of its directors or members (if it so desires).
• It holds a lease on property for use as an office from which to communicate with members or where books and records of the company are prepared or maintained (if so decided).
• It holds debt obligations, shares or other securities in a B.V.I. IBC or any other locally incorporated company.
• Shares, debts obligations or other securities in the company are owned by any person resident in the BVI or by any corporation (BVI) or any other locally incorporated company.

Restrictions on any business activities outside the BVI for a BVI Corporations

There are no restrictions on doing business outside of the BVI except illegal activities or such activities that require additional licensing such as: provision of banking or insurance and trust services.

One of the following words must be used at the end of the company name “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”, “Sociedad Anonima”, or abbreviations thereof “Ltd.”, “Corp.”, “Inc.” or “S.A.”

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