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Suffixes to Denote Limited Liability
Local Corporate Requirements
Local Facilities And Support Services
Incorporation Charges
Normal Ongoing Maintenance Costs After First
Year
Our Services
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BRITISH VIRGIN ISLANDS (BVI)
The BVI is in our top 4 list along with the Seychelles, Belize and Delaware. The BVI comprises of a group of islands in the Caribbean Sea about 50 miles (80 km) east of Puerto Rico.The islands are a self-governing British Colony that currently qualifies as the most popular offshore jurisdiction, with approximately 275,000 companies currently incorporated.
The Islands operate under a British based legal system. The BVI Business Companies Act (No 16 of 2004) is the statute of the British Virgin Islands relating to the formation of all companies this guarantees no Government Fees or Taxes on BVI IBC companies other than the annual licence fee. It is very important that this fee be paid punctually each year because whereas some jurisdictions simply levy increasing penalties for several years in the BVI failure to pay the licence fees by the due date results not just in penalties but worse if the fees remain outstanding for five months the company will be struck off. The annual Government fees are US$300 for authorised capital of less than US$50,000.
One of the major advantages of incorporating in the BVI is that the Islands have no double taxation treaties with any country; the only two treaties relating to taxation matters are with Japan and Switzerland, although these have limited benefit and are not applicable to offshore business in any case.
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Suffixes to Denote Limited Liability
Corporation, Limited, Incorporated, Société Anonyme, Sociedad
Anónima or their relevant abbreviations, Corp, Ltd, Inc, SA
etc.
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Local Corporate Requirements
Each BVI Company must:
- have registered office and agent in the BVI;
- have minimum of 1 director, corporate directors are permitted;
- have minimum of 1 shareholder;
- bearer shares are permitted;
- register of shareholders/members must be kept at the registered
office and can only be inspected with the director's consent.
There are no requirements for:
- registers of directors and details of beneficial owners
do not need to be submitted to the Registrar, however, the
company may elect to do so;
- registers of shareholders to be submitted to the Registrar,
however a
- company may elect to do so;
- annual meetings to be held;
- annual returns to be lodged.
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Local Facilities And Support Services
While the BVI has an increasingly sophisticated professional
and financial community the number of legal, accounting and
financial institutions is still way behind the Bahamas and Cayman
Islands, although in many areas confidentiality is more rigidly
enforced and this compensates for the lack of sophistication
in other oreas. It must of course be considered that whilst
a BVI company is an excellent trading vehicle it is possible
to arrange banking and other facilities in numerous other locations
throughout the world.
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Incorporation Charges
| Incorporation
Fee |
£695 |
$1390 |
€995 |
| Annual
Fees |
£500 |
$995 |
€715 |
Due
1st January for companies incorporated between 1st January
and 30th June.
Due 1st July for companies incorporated between 1st July
and 31st December |
| If
you require an internet domain registration to accompany
the formation click here |
Orca Rating for The British Virgin Isles
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registration efficiency |
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| Cost |
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| Confidentiality |
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| Local
banking facilities |
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system |
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stability |
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Normal Ongoing Maintenance Costs After First Year
- Total* £599, $1190.00 or €855.00
* For a company with authorised capital of US$50,000 or less.
The annual licence fees increase incrementally if the authorised
capital exceeds US$50,000.
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Our Services
We usually have shelf companies available for immediate purchase,
all companies are provided with a complete kit including:
- statutory registers;
- share certificates;
- 10 copies of the M&A;
- common seal;
- company chop.
If
you prefer us to form a company in your choice of name, it
will take between 10 and 21 days for the company kit and
the statutory documents to arrive. We recommend you select
two or three alternative names in case the first choice is
unavailable.
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