British Virgin Islands (BVI) IBC Offshore Company Information
| Key Company Features | |
| Type of entity | IBC |
| Type of law | Common |
| Shelf company availability | Yes |
| Our time to establish a new company | 2 days |
| Minimum government fees excluding taxation | US$350 |
| Corporate taxation | Nil |
| Double taxation treaty access | No |
| Share capital or equivalent | |
| Standard currency | US$ |
| Permitted currencies | Any |
| Minimum paid up | US$1 |
| Usual authorised | US$50,000 |
| Directors or Managers | |
| Minimum number | One |
| Local required | No |
| Publicly accessible records | No |
| Location of meetings | Anywhere |
| Members | |
| Minimum number | One |
| Publicly accessible records | Optional |
| Location of meetings | Anywhere |
| 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 |
Setup And Maintenance Costs
Incorporation (Setup) Costs - US$1,550
The fee is all inclusive, no hidden costs.Annual Maintenance Costs - US$950
The fee is payable after the first year and covers annual taxes, registered agent and nominees. No hidden costs.Our company kits are always delivered with the same documents and may vary slightly from jurisdiction to jurisdiction. All our companies come in a deluxe corporate "attache kit", which is all inclusive and ready for use document kit.
Our corporate kits are delivered with the following documents:
- Certificate of Incorporation (Notarized and legalized by Apostille)
- Memorandum & Articles of Association (Notarized and legalized by Apostille)
- Appointment of First Directors / Nominee Directors (Notarized and legalized by Apostille)
- Nominee shareholders (if applicable)
- Shareholder certificates
- Minute Books
- Share registry books
- 1 Power of Attorney (Notarized and legalized by Apostille)
- Trust agreement (when applicable)
- Minutes and / or board resolutions when requested
- Corporate seal
Company Information
International Business Company's ('IBC's') are companies incorporated in the British Virgin Islands ('BVI') under the International Business Companies Act, 1984, but whose business is to be conducted outside the BVI, and which may not do business with any person resident in the BVI. BVI IBC's are a very popular and widely used offshore companies because of their administrative ease, flexibility, taxation exempt status and the fact that they are widely accepted and understood by the international financial community. BVI IBC's may not own real property in the BVI, other than the lease of an office, and may not carry on banking or trust business (unless licensed under the Banks and Trust Companies Act, 1990) or insurance or re-insurance business (unless licensed in the BVI to carry on that business). Otherwise, BVI IBC's may engage in any activity that is not illegal under the laws of the BVI subject to any restrictions in their Memorandum of Association. The British Virgin Islands are a small group of islands in the Caribbean Sea located 60 miles east of Puerto Rico. The BVI has excellent airline connections with Puerto Rico's capital of San Juan, which is a major hub for American Airlines. The BVI financial services industry enjoys the advantages of having responsibility for its internal self-government, while maintaining the political and economic stability associated with being a British Overseas Territory. The BVI has an independent legal and judicial system based on English Common Law, with a right of final appeal to the Privy Council in London. Policies and legislation are developed in close consultation with the private sector. Offshore business can be carried out in a tax-free environment.
Type of Company for International Trade and Investment
The BVI International Business Company.Procedure to Incorporate
Submission of the Memorandum and Articles of Association and a Certificate from the Registered Agent confirming compliance with the requirements of the ordinance.Restrictions on Trading
BVI IBC's cannot trade within the British Virgin Islands or own real estate there. Cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship, the rendering of investment advice or any other activity that would suggest an association with the banking or insurance industries. Cannot offer its shares for sale to the public.Powers of Company
A company incorporated in the British Virgin Islands has the same powers as a natural person.Language of Legislation and Corporate Documents
English.Shelf Companies Available
Yes.Time to Incorporate
2 days.Name Restrictions
Any name that is identical or similar to an existing company, or any name that suggests the patronage of the Royal Family or the Government of the British Virgin Islands.Language of Name
Latin Alphabet. Any name in a language other than English must be accompanies by a translation to ensure that the name is not restricted.Registered Office Required
Yes, must be maintained in the British Virgin Islands, and must be maintained at the office of a licensed management company.Names Requiring Consent or Licence
Bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents.Suffixes to Denote Limited Liability
Limited, Corporation, Incorporated, Société Anonyme, Sociedad Anónima or their relevant abbreviations.Disclosure of Beneficial Ownership to Government Authorities
No.Compliance
Authorised and Issued Share Capital
The normal authorised share capital is US$50,000with all of the shares having a par value, this being the maximum share capital for the minimum duty payable upon incorporation and annually thereafter. The share capital may be expressed in any currency. The minimum issued capital is one share of no par value or one share of par value.Classes of Shares Permitted
Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.Taxation
An International Business Company does not pay any tax on its world-wide profits to the British Virgin Islands authorities.Double Taxation Agreements
The British Virgin Islands has treaties with Japan and Switzerland, although they have limited benefit and are not applicable to offshore business.Licence Fees
Companies with an authorised capital up to US$50,000 pay US$350 per year.Companies with a share capital more than US$50,001 pay the sum of US$1,100 per year.
Companies with a share capital that does not exceed US$50,000 and having some or all of its shares with no par value pay the sum of US$420 per year.
Financial Statements Required
Whilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records, which reflect the financial position of a company.Directors
The minimum number of directors is One. They may be natural persons or bodies corporate. They may be of any nationality and need not reside in the British Virgin Islands.Company Secretary
A company secretary may be appointed. The company secretary may be a natural person or a body corporate. They can be of any nationality and need not reside in the British Virgin Islands.Shareholders
The minimum number of shareholders is One.General Information
The British Virgin Islands consist of 60 islands and cays having a total land area of 150 sq km. The BVI lie to the north west of the United States Virgin Islands and are separated from them by a channel only five kilometres wide. The neighbour with the largest land area is Puerto Rico, 96 km to the west. Except for Anegada, which is a flat, coral island with little soil, the islands are hilly. The BVI's greatest tourist attraction is their superb beaches.
