British Virgin Islands Company Formation
British Virgin Islands Offshore Company Incorporation
The British Virgin Islands consist of 60 separate islands, situated to the North West of the American Virgin Islands, 60 miles from Puerto Rico. The population is approximately 17 000 and the official language is English. It is a colony of Great Britain, with autonomous local government and its own constitution. Legislation is based on the English Law.
BVI Business Company Legislation
The BVI Business Companies (Amendment) Act, 2015 (the “Amending Act”), which amends the BVI Business Companies Act, 2004 (the “2004 Act“), is expected to come into force in the coming months.
The Amending Act is part of the BVI Government’s continuing process of modernisation of the companies regime in the jurisdiction. The Amending Act is complemented by amendments to the BVI Business Companies Regulations, 2012.
Corporate Structure of a British Virgin Islands IBC
Confidentiality and Privacy
The names of the Shareholder(s) or beneficial owner(s) of the Company are not filed with the Registrar of Corporate Affairs in the British Virgin Islands, the names of the Director(s) are filed but this is not publicly accessible.
Nominee services are permitted if required.
Share Capital of a BVI Business Company
As per the BVI Business Companies Act of 2004, Business Companies not carrying on business in the BVI are exempt from all taxes.
Financial Statements and Company Records
Meetings of BVI IBC Shareholder(s) and Director(s)
Doing business using a BVI BC
A BVI BC can carry out any legal business and/or investment activity worldwide, they may not offer bank, insurance or trust services without prior authorization from the BVI Financial Services Commission.
Generally BVI BC´s cannot do business with BVI residents or corporations without losing their tax exempt status.
The BVI IBC incorporation package includes:
It is not possible to use a word (or words) in the name that are calculated to suggest:
The patronage of Her Majesty or that of a member of the Royal Family;
A connection with Her Majesty’s Government; or
A connection with a municipality or other local authority or with a society or body incorporated by Royal Charter.
Names must end with one of the following suffixes or an abbreviation thereof:
The following words and their associated activities can not be used:
Chamber of Commerce