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British Virgin Islands
  • The British Virgin Islands (BVI) are a dependent territory of the United Kingdom, situated in the Caribbean region on an archipelago consisting of 50 islands. The main island is Tortola, with a population of around 16,000. The official Head of State is the Queen of the United Kingdom, but local power is exercised by a governor appointed by the Queen. The main sources of revenue are tourism and the finance sector.
  • The International Business Companies Act 1984 was replaced by the BVI Business Company Act 2004. This states total exemption from corporate tax for all types of BVI companies. Accordingly, the BVI is rightfully considered to be one of the most popular classic offshore jurisdictions in the world.

GENERAL INFORMATIONTotal area - 153 sq km
Population - 28,000
Location - click here to see the map of offshore jurisdictions
Political status - British overseas territory
Capital - Road Town
Official language - English
Official currency - USA Dollar (USD)
Time zone - GMT - 4
Company typeBusiness Company (BC)
Directors/OfficersBVI Business Companies require a minimum of 1 Director, who may be a natural person or a corporate body from any legal jurisdiction.
Each BVI Business Company must file a Register of its Directors with its registered agent or the Register of Enterprises of the BVI.
ShareholdersBVI Business Companies require a minimum of 1 shareholder, who may be a natural person or a corporate body from any legal jurisdiction.
Each BVI Business Company must file a Register of its shareholder/s with its registered agent or the Register of Enterprises of the BVI.
SecretaryThere is no statutory requirement for a Company Secretary to be appointed.
Authorised share capital Standard authorised capital = 50,000 USD.
There is no statutory requirement for capital to be fully or partly paid on incorporation.
Company Names The name of a BVI Business Company must end with the words "Incorporated", "Corporation", "Limited", or suffixes such as "Inc.", "Corp.", "Ltd.", "S.A.", etc.
Company names containing restricted words such as "Bank", "Insurance", "Trust", "Assurance", "Imperial", "Royal" etc. will not be permitted unless an appropriate national operating licence has been obtained by the company.
Beneficial Ownership information Information with regard to ultimate beneficial ownership must be disclosed to the Registered Agent of the company and is held by the agent on a confidential basis.
Filing of Annual ReturnThere is no requirement to file an Annual Return.
Filing of Financial StatementsThere is no requirement to file Financial Statements in the BVI for Business Companies.
Corporate TaxationBVI Business Companies are not subject to corporation tax in the BVI
Tax TreatiesBVI Business Companies are not subject to Double Tax treaties concluded by the British Virgin Islands with other countries.
Timeframe for incorporation 4/5 working days. A complete set of company documents can be delivered in 4/5 weeks.
Takeover of management & secretarial services for an existing BVI BC companyPossible, following verification of Beneficial Ownership and agreement with and discharge of liabilities to previous corporate service provider in the BVI.
Description of incorporation documentsClick here for itemised description of company documents.
"Ready-made"("Shelf") companiesToday we have 15 "Ready-made" companies available in this jurisdiction
Price of BVI BC companyEUR 1,490, including incorporation costs, full domiciliary (Registered Agent/Office) costs, set of documents legalised by Apostille, including General Power of Attorney.
Cost of annual support servicesEUR 930 per year, including annual Government Duty, full domiciliary (Registered Agent/Office) costs, General Power of Attorney for current year.
  • INTERNATIONAL OVERSEAS SERVICES has the following comments: -
  • The British Virgin Islands (BVI) are currently one of the most popular offshore jurisdictions in the world.
  • The BVI possess a well-developed infrastructure, and the current BVI corporate and financial legislation is developed in full compliance with current international standards. These achievements are appreciated also by organisations such as OECD and FATF.
  • Consequently, in the event that using a classical offshore company becomes a necessity, the BVI are undoubtedly one of the most frequent choices.