British Virgin Islands IBC + Headquarters in Road Town + Authorized Agent + Multi Currency & Multi IBAN Account + DHL ShippingAnnuityNumber
Administrators
Taxes on
companies
Capital
Released
States
Financial
1.760 €990 €10%$ 1No

Additional costs

Regent Street UK Business Address with Scanned Mail500 €
The head officeincluded
Online banks with IBAN in England, Belgium, Luxembourg or Lithuania250 €
Offshore bank account1.000 €

Establishment of Companies in the British Virgin Islands

 

British Virgin Islands International Trading Company (IBC)

The British Virgin Islands (BVI) offer favourable trade regulations, a prosperous economy and a stable political situation. The territory is a particularly popular place to incorporate a CBI as there are many advantages for offshore companies and guaranteed confidentiality. The establishment of a CBI in the British Virgin Islands will ensure confidentiality, as company registers are not publicly accessible. Company Formation in the British Virgin Islands is more than thriving there

 

IAB Incorporation Services

Business Finance International has more than 20 years of experience in the creation of companies in BVI and around the world. Our staff will offer advice and support throughout the incorporation process. Please contact us for help with Company Formation in the British Virgin Islands, we are here to help.

 

International Business Enterprise in the British Virgin Islands

To start incorporating your IBC BVI, we need the following items:

  • The name of your company
  • The full name, date of birth, address and nationality of all directors
  • The full name and address of all shareholders

Documents you must provide:

  • Certified proof of identity (passport, national identity card, photographic driving licence)
  • Certified proof of residential address (gas/electricity bill or bank statement dated within the last three months)

The head office

  • All CBIs must have a head office and a resident agent. The head office must be a physical address at the CBIs where documents can be legally served on the company. An appropriate office and agent are included in our standard corporate training package.

Shares and capital required

  • There is no minimum share capital requirement for the establishment of companies in the British Virgin Islands.
  • Shares may be issued with or without par value and in any currency.

Ready-to-use companies

  • We currently have shelf companies in the British Virgin Islands, with a memorandum and standard articles designed to allow for most general activities; this allows a business to be started in a very short period of time. Our ready-made companies are in good standing, are not subject to any insolvency proceedings and have not entered into any contracts or engaged in any commercial activity.

 

What you get after you start your new business:

  1. Minutes of the first inaugural meetings
  2. Copies of the Memorandum and Articles of Association
  3. Certificate of origin of incorporation
  4. Share certificates for each specified shareholder, plus two blank certificates

Benefits British Virgin Islands (BVI)

  1. The BVI is the most popular offshore jurisdiction . The International Business Companies (IBCs) of the BVI benefit from favourable trade regulations, a prosperous economy and a stable political situation.
  2. Incorporation into the BVI offers the advantages of offshore legislation. A BVI CBI is a limited liability company that carries on business and commercial activities outside the BVI and is intended for offshore activities; modern offshore legislation offers maximum flexibility in global asset protection and tax and investment planning.
  3. A CBI at IBCs requires minimal infrastructure. A minimum of one director and one shareholder is required to incorporate a company at BVI. Those listed may be of any nationality and must not be resident at BVI. Corporate shareholders are also permitted.
  4. An IBC BVI ensures extended confidentiality for directors and shareholders . All CBIs confer a high degree of confidentiality on directors and shareholders. Names and addresses are not stored in the public file of the CBIs and are not accessible to the public.
  5. Incorporating a limited company into the BVI is a quick process. It takes only two days to set up a company in the British Virgin Islands.

British Virgin Islands - CBI Licensed Activities

IAB Key Points

  • Timeline: your business will be incorporated in as little as 2-3 days.
  • Director: a director of any nationality is required
  • Shareholders: a requirement of any nationality
  • Share capital: No minimum share capital required
  • Accounts: no obligation to file accounts or financial statements
  • Tax Code: A CBI is exempt from tax on income generated outside the BVI.
  • Confidentiality: the names of directors and shareholders do not appear in the public file.
  • Support: With our 20 years of experience, we accompany you every step of the way through the process of creating a company.

A CBI of the British Virgin Islands may

An IBC at BVI may carry out all of the following activities, which are not considered to be "carrying out activities within BVI":

  • Establishing or maintaining business contacts with professional firms such as lawyers, accountants and registered agents
  • Maintaining bank accounts
  • Making or maintaining deposits with a person engaged in banking activities at IABs
  • Preparing and maintaining books and records within IABs
  • Hold meetings of its directors or shareholders
  • Renting property to use as an office from which to communicate with shareholders, or to prepare and maintain corporate books and records
  • Holding shares or securities in another company BVI

A CBI of the British Virgin Islands cannot

  • Doing business with residents of the British Virgin Islands
  • Own property in the British Virgin Islands
  • Carrying on the business of a bank, trust company, insurance company or registered agent, unless expressly authorized to do so.

Public documents

The documents that must be filed with the commercial register are the incorporation documents, which include details of the registered office and registered agent, and a register of directors. The names of directors-beneficial owners do not appear on the public record.

An IBC company is not required to file accounts with the Registrar of Corporate Affairs. The only documents available for public consultation are the memorandum, articles of association and certificate of incorporation.

Taxation

On 1 January 2019, the Economic Substance (Partnerships and Limited Partnerships) Act 2018 ("ES Act") came into force in the British Virgin Islands ("BVI").

The ES Act simply requires that corporations and limited partnerships conducting relevant operations specifically targeted must demonstrate their substance/presence in the British Virgin Islands, unless they are tax residents in another jurisdiction.

 

Filing requirements for IAB companies

Key points

  • Timeline: your business will be incorporated in as little as 2-3 days.
  • Director: a director of any nationality is required
  • Shareholders: a requirement of any nationality
  • Share capital: No minimum share capital required
  • Accounts: no obligation to file accounts or financial statements
  • Tax Code: A CBI is exempt from tax on income generated outside the BVI.
  • Confidentiality: the names of directors and shareholders do not appear in the public file.
  • Support: With our 20 years of experience, we accompany you every step of the way through the process of creating a company.

Memorandum and articles

Each company must have a memorandum and articles of association in accordance with the law. The memorandum and articles are the equivalent of a company's incorporation. The subjects covered by the memorandum and articles include the company's internal governance procedures and the relationship between its members.

Share certificates can be signed by a single director if you wish.

Apply to the Registrar

We will file a completed application form with the Registry with:

  • The Memorandum and
  • Consent to act as a registered agent

When the registry is satisfied, it:

  • Save the documents
  • Assigning a Business Number
  • Issuing a certificate of incorporation
  • Returning stamped copies of the memorandum and articles

Meetings of Directors and Shareholders

There is no legal obligation for IBC companies at BVI to hold annual general meetings. Company board meetings can take place anywhere in the world and can be conducted electronically.

Reporting requirements

There are no strict reporting requirements to IBCs and a CBI does not need to prepare financial statements or business accounts. The company should keep only those accounts or records that business owners deem necessary for their own use, and these can be kept anywhere in the world. Annual returns are not required for an IBC.

It is necessary to maintain the register of directors and the register of shareholders at the registered office of the company.

Corporate records and annual financial statements

It is mandatory to keep a register of directors at the BVI's head office. Information concerning the directors will remain confidential to third parties.

Incorporation requirements

  • There should be at least one person who will be the director of the corporation and the shareholder.
  • There must be a local agent registered with IAB.
  • There should also be a head office address at the IAB.

The registered address and registered local agent can be provided by Business Finance International.

 

British Virgin Islands - IBC company registration

IAB Key Points

  • Timeline: your business will be incorporated in as little as 2-3 days.
  • Director: One Director: Individuals must be 18 years of age or older.
  • Shareholders: one required
  • Share Capital: No minimum share capital for the establishment of companies in the British Virgin Islands.
  • Accounts: accounts or financial statements are not filed.
  • Confidentiality: the names of directors and shareholders do not appear in the public file.
  • Support: With our 20 years of experience, we accompany you every step of the way through the process of creating a company.

Social Capital

At BVI, the standard authorized share capital is 50,000 $ US. This is the maximum authorized share capital for the minimum fee payable upon incorporation of the company and annually thereafter. The company's share capital can be expressed in any currency.

Shares may be issued for nil or partial payment; however, the directors must certify any consideration other than cash by written resolution; the consideration must be certified to represent a reasonable redemption value.

Classes of shares

Classes of shares authorized at BVI:

  • Registered shares
  • Shares without par value
  • Preference sharing
  • Voting and non-voting shares

Shares may be issued with or without par value and do not need to be fully paid upon issuance. The minimum issued capital is one share without par value or one share without par value.

Registered shares

The company's share register is kept by the company's registered agent and the information must be kept confidential. The Agent may disclose this information only in the case of a court order or inspection of the company's documents by FSC or other BVI authorities.

 

Taxation

On 1 January 2019, the Economic Substance (Partnerships and Limited Partnerships) Act 2018 ("ES Act") came into force in the British Virgin Islands ("BVI").

The ES Act simply requires that corporations and limited partnerships conducting relevant operations specifically targeted must demonstrate their substance/presence in the British Virgin Islands, unless they are tax residents in another jurisdiction.

 

BVI Company Register

The BVI Companies Act 2004 requires the Registrar of Corporate Affairs to maintain the following:

  • Registry of Companies Incorporated under the Act
  • Registry of foreign companies registered under Part XI
  • Register of fees registered under Part VIII

We file all applications for new companies, which allows companies to be incorporated and registered with the BVI Business Registry within 2-3 days.

Registrar of Corporate Affairs

The Registry of Corporate Affairs administers the Business Corporations Act of the British Virgin Islands and is responsible for ensuring the compliance of companies operating in the Territory. They also ensure that the Registry of Companies is properly maintained.

BVI has maintained its leadership position because of the flexibility of its legislation, the quality of its financial services, the efficiency of its corporate affairs registry, its commitment to confidentiality, and its integrity and stability as a jurisdiction.

Register Location

Registry of Corporate Affairs
PO Box 418
Road Town
Tortola
British Virgin Islands

The IAB government is committed to implementing leading-edge legislation, making the IAB one of the best international financial centres in the world.

IAB Financial Services Commission

The BVI Financial Services Commission is the regulator of financial services in the territory. They are responsible for authorizing and licensing financial services companies.

Through the Registry of Corporate Affairs, the BVI Financial Services Commission is also responsible for the registration of all companies incorporated in the territory and for the establishment of limited partnerships and the registration of trademarks and patents.

Information available from the Registrar of Corporate Affairs

BVI uses VIRRGIN, a state-of-the-art electronic filing system. Incorporation of companies and post-incorporation filings are done electronically, allowing for quick and efficient document rotation through the Corporate Affairs Registry.

We can obtain information and documents on companies incorporated in the British Virgin Islands through the Registry of Corporate Affairs.

 

Corporate Taxation BVI

Taxation

On 1 January 2019, the Economic Substance (Partnerships and Limited Partnerships) Act 2018 ("ES Act") came into force in the British Virgin Islands ("BVI").

The ES Act simply requires that corporations and limited partnerships conducting relevant operations specifically targeted must demonstrate their substance/presence in the British Virgin Islands, unless they are tax residents in another jurisdiction.

The ES Act simply requires that corporations and limited partnerships conducting relevant operations specifically targeted must demonstrate their substance/presence in the British Virgin Islands, unless they are tax residents in another jurisdiction. All commercial companies and limited partnerships incorporated in the BVI must inform the International Fiscal Authority of their economic substance status. An initial legal assessment will be mandatory for each BVI company and, in the future, an economic substance file will have to be submitted annually to the International Tax Authority. * Please note that this applies to ALL companies, whether or not they fall within the scope of the ES ACT. *

 

BVI Double Taxation Treaties

Legislation has been drafted to ensure that the BVI are fully compliant with the European Union (EU) Savings Tax Directive and the EU Code of Conduct for Business Taxation, as required by the United Kingdom of all its Overseas Territories.

If you are interested in setting up companies in the British Virgin Islands, contact our experts.

 

Characteristics of the BVI Societies

 

OVERVIEW

Location

Eastern Caribbean.

Time zone

GMT - four hours.

Population

Approximately. 26 000.

Capital city

Road Town.

Airport (s)

Beef Island.

Language

English.

Motto

American dollars.

Political system

Democratic 13-member ministerial government.

International code

+ 1 284.

Legal system

Based on English Common Law. The Privy Council of the United Kingdom is the final court of appeal.

The expertise of the Center

Recognized as a head office for commercial companies, trust agreements, captive insurance, mutual funds and shipment registration.

TAX

Income tax

No taxes.

Corporation tax

No income tax (profit). Payroll tax - resident companies: 10% or 14% (employees: 8% fixed, employers: 2% or 6% depending on the size of the company). Non-resident enterprises: idem resident, on employees based at BVI only.

Exchange restrictions

No.

Tax treaties

Japan, United Kingdom, Switzerland

SHARE CAPITAL

Authorized currencies

All currencies are allowed. Official currency: US dollars.

Minimum authorized capital

No minimum.

Minimum share issue

One slice.

TYPE OF ENTITY

Shelving companies

ΒVI Business Companies Limited Partnerships, separate holding companies, limited purpose companies, corporations limited by shares and/or guarantee.

Calendar for new entities

24 hours (BVI Business Companies, LPs).

Incorporation expenses

Companies, 350 $ US - 1,100 $ US depending on the structure of the share capital (number and type of shares authorized for issue); Limited partnerships 500 $ US.

Annual fees

Commercial companies 350 $ US - 1,350 $ US depending on the share capital structure and share certificates issued; Limited partnerships 500 $ US.

Administrators

Minimum number

One.

Residence conditions

No.

Corporate Directors

Yes.

Meetings / frequency

As determined by the administrators.

SHAREHOLDERS

Disclosure

No.

Bearer shares

Yes.

Minimum number

One.

Public share registry

No.

Meetings / frequency

As determined by the directors or shareholders.

ACCOUNTS

Annual return

No.

Audit requirements

No.

OTHER

Registration Desk

Yes, must be at the BVI, just like the registered agent.

Home issues

The new domiciliation to and from the BVI is authorized by the BVI law.

Company naming restrictions

Restricted words such as "bank", "insurance", "fund", "trustee" will not be permitted without the appropriate licence.