BVI Fact Sheet
General
| Type of company | IBC |
| Political Stability | Good |
| Common or Civil Law | Common (UK Privy Council is the final Court of Appeal) |
| Disclosure of Beneficial Ownership to Government Authorities | No. Disclosed to Registered Agent under Beneficial Owner Secure Search System (BOSSS). |
| Migration of Domicile Permitted | Yes |
| Tax on Offshore Profits | Nil |
| Language of Name | English, Spanish or any other language and submitted together with an English translation |
Corporate Requirements
| Min. No. of Shareholders | 1 |
| Min No of Directors | 1 |
| Min. Share Capital | No Minimum |
| Corporate Directors | Yes |
| Company Secretary Required | Optional |
| Usual Share Capital | N/A |
| Bearer Shares | Not Allowed |
| Production of Accounts | Discretion of Directors |
| Audit of Accounts | Discretion of Directors |
Local Requirements
| Registered Office | Yes |
| Registered Agent | Yes |
| Company Secretary | No |
| Local Directors | No |
| Local Shareholders | No |
Annual Requirements
| Minimum Annual Tax/Licence Fee | US$ 450.00 – US$ 1,200.00 depending on share Capital structure (number and type of shares authorised for issue) and sites of share certificates issued. |
Restrictions on Trading
- IBCs cannot hold property in the British Virgin Islands or carry on business with residents of the British Virgin Islands.
Attractive Features
- The name must indicate the company’s limited liability status using the abbreviations Ltd, Corp, Inc or SA or these terms’ full versions.
- Full exemption from taxation on any business activity or transaction carried on outside the British Virgin Islands.
- Full exemption from Exchange Restrictions.
- Speedy incorporation procedures and simple ongoing administration.
- Complete business privacy and confidentiality.
- The shareholders, directors, officers may be of any nationality and may be residents of any country.
- Neither the directors nor the officers need be shareholder.
- Directors and/or officers can be either corporate entities or natural persons.
- There is no requirement to register initial or ongoing changes in directors and/or officers.
- No minimum requirement. It may be denominated in any currency and at least one share must be issued upon incorporation. Bearer shares are no longer allowed.
- Shareholders and /or directors may hold their meetings in any country and they may attend such meetings by proxy. No need for an annual general meeting of shareholders.
- Familiarity of incorporation documents (Memorandum & Articles of Association, Certificate of Incorporation).
- Use of Apostille should documentation need to be legalised.
- Incorporation documents may be drafted in any language together with a translation into English.
- Registration of mortgages on vessels and aircraft available.