British Virgin Islands (BVI) Company Incorporation
Set-up a Company in the BVI for USD 1625 all-inclusive

The British Virgin Islands is considered one of the world’s leading offshore jurisdictions. It is one of the oldest and most respected offshore financial centres in the world. BVI is a British overseas territory located to the east of Puerto Rico, in the Caribbean.

The BVI corporate registry includes approximately 850.000 registered International Business Companies. BVI company law is, like most of the British Overseas Territories, based on the English common law, whilst considering equitable principles, local legislation and statutory law.

The most common BVI Company Registration type in is an International Business Company (IBC). IBC’s are companies incorporated in the British Virgin Islands under the International Business Companies Act, 2004 and provide a low cost corporate entity which can handle corporate structures and transactions while offering safety and security to investors.

Main features of BVI company registration:

• Low setup cost and annual renewal fee
• BVI Company Registration can be done without visiting the island.
• Exemption from all local taxes and stamp duty.
• BVI company can be setup in 48 hours.
• Only 1 director and 1 shareholder are required and the director and shareholder can be the same person.
• You do not need to be resident in BVI to be a director or shareholder
• No annual accounting requirements
• There are no requirements for appointing auditors, filing financial statements and public or government reports.
• Distribution of benefits to members can be in the form of dividends, debts or assets.

Some examples of how to use a BVI company:

• Asset security – a BVI company has the ability to transfer domicile; protect assets from expropriation or confiscation orders from foreign Governments; transfer assets to another company, trust, foundation, association or partnership; merge or consolidate with any other BVI or foreign company in accommodating jurisdictions.
• Confidentiality and anonymity. There are requirements to file Ultimate Beneficial Ownership and Directorship information however access to the information filed is not open to the public and there are strict protocols governing its release.
• Primary Vehicle for Operational Companies. BVI companies are often used as the primary vehicle under which a business is operated. This can be a factory, an import export business, an IT Consulting Firm, a product sales website. Such businesses although incorporated in the BVI typically operate in the country or countries adjacent to where the owner is based.
• Holding Company for Investments. A BVI company is typically used to hold an investment(s) for the benefit of an individual or family office. The form of investment can be a portfolio of stocks and bonds, a residential complex in Dubai, a commercial property in New York or an art collection of value.
• Ship Registration. – Persons choosing to register ships in the British Virgin Islands typically use a British Virgin Islands company to own the ship. Please see our BVI boat registration section for details.
• Funds – BVI law allows for private, professional and public funds. Wealthy individuals are mostly attracted to the private funds which limit the number of investors to 50. A company can be used as the vehicle to set up the fund and a director of the fund can thereafter manage assets subject only to restrictions contained in the fund offering documents. Shares can be easily issued to family members and they can easily be redeemed or separated into different classes with different rights.
• Initial Coin Offerings – Initial currency offerings (ICO) for new crypto-currencies have become increasingly popular over the past two years. Although there are no specific crypto, blockchain or ICO provisions or guidelines built into any BVI Legislation at present, BVI companies provide certain inherent advantages which have made the BVI an attractive jurisdiction with several successful launches in recent times.

BVI Incorporation - Directors, Shareholders and Secretary

The standard BVI company formation requires a minimum of one director and one shareholder. They do not need to reside in the BVI and they can be corporate entities. What makes this destination so popular is an individual director is not required.

You can also have a one-man company, meaning that the Director and Shareholder can be the same person.

Nominee Director and Shareholders are also permitted in a BVI company registration.

BVI Company Registration & Taxes Explained

The BVI International Business Company is exempt from all local taxes. This includes stamp duty, capital gains, sales tax, inheritance tax, and VAT.

There are no requirements for appointing auditors, filing annual accounts, filing financial statements and public or government reports.

Annual Renewal of BVI Company Registration - Yearly Renewal Fee $1050

Each BVI Company must be renewed yearly to be kept in good standing. If the BVI company has nominee directors, they will also need to be renewed every year. Our yearly renewal package includes; 1 year tell and email support, registered agent service, registered office service and all government fees.

The annual requirements for a BVI company are minimal. There is no requirement to file annual accounts or a company annual return. There are no requirements for appointing auditors, filing annual accounts, filing financial statements and public or government reports.

BVI Company Formation – Paperwork required

• Proof of Physical Address
• A Professional Reference letter or a Bank Reference letter
• Certified copy of an approved Government photo ID (passport preferred)
• Full name, address and contact details of legal or tax advisors (if any).