THE MAIN CHARACTERISTICS OF THE BVI COMPANY

General

Type of entity IBC
Type of law Common
Shelf company availability Yes
Our time to establish a new company 2 days
Government fees for a share capital not exceeding USD 350
Government fees for a share capital exceeding USD 1,100
Corporate Taxation Nil
Double taxation treaty access Yes

Share Capital or Equivalent

Standard currency/Permitted currencies USD/Any
Usual authorized capital USD 50,000
Minimum paid up USD 1
Usual authorised USD 1 000

Directors

Minimum number One
Local required No
Location of meetings Anywhere
Corporate Directors Permitted Yes
Publicly accessible records No

Shareholders

Minimum number One
Publicly accessible records No

Company Secretary

Required Optional
Local or qualified No

Accounts

Requirement to prepare Yes
Audit requirements No
Requirement to file accounts No
Publicly accessible accounts No

Other

Requirement to file annual return No
Change in domicile permitted Yes

Presentation of jurisdiction

The British Virgin Islands (BVI) are one of the oldest and the highest regarded offshore financial centers in the world. The BVI are globally recognized as the benchmark that other offshore jurisdictions strive to imitate. Most of the companies in BVI have as their preferred company structure the International Business Company (IBC) form (International Business Companies Act, 2004), the great popularity if this structure in BVI comes from its across-the-board beneficial features:

  • Flexibility;
  • Tax exemption status;
  • Ease of operation;
  • Widely accepted by the international financial community.

Enable offshore business to be managed in a tax-free environment.

Who should choose BVI Company and what activities benefit the most?

Who?

  • Entrepreneurs;
  • Consultants;
  • Stockbrokers;
  • Holding companies.

Which activities?

  • International trade;
  • Inheritance tax purposes;
  • Holding of intellectual property rights (IP);
  • Ownership of movable and immovable property;
  • E-Commerce.

INTEREST OF THE JURISDICTION OF BVI

Advantages of a company in BVI:

  • No corporate taxation – 0%.
  • No requirement to file accounts.
  • No publicly accessible records for Directors and Shareholders.
  • The flexibility of the legalization allows a company incorporated in the British Virgin Islands to operate with the absolute minimum of fuss.

Disadvantages of a company in BVI:

  • The lack of public registers may hinder proving of ownership.

How to proceed

To incorporate or purchase a company the following documentation should be provided:

  • A completed application form signed by the company or by the representative;
  • Copy of valid passport;
  • A personal bill, which is less than 3 months old from the date of the application;
  • Payment of our fees.

Note: additional documents may be required depending on the certain offshore bank.

Set-up time: From the moment, we are in possession of all required documents:

  • Incorporation of a company or purchase of an existing company: 3 days;
  • Delivery of the original company documents: 15 days;
  • Offshore Bank: offshore bank account opening: 3 weeks.