The British Virgin Islands consist of 60 Islands and Cays, situated North West of the United States Virgin Islands. The Islands are a popular destination for both tourism and offshore investment.
The British Virgin Islands is a self-governing British Crown colony with a ministerial system of Government operating under a Constitution adopted in 1967.
Currency:
The United States Dollar - USD
Language:
The official language is English.
Characteristics of BVI IBC
Type of Company:
- Companies Limited by Shares
- Companies Limited by Guarantee
- Restricted Purpose Companies
- Segregated Portfolio Companies
- Unlimited Companies
- Hybrid Companies
Name: Names of a limited company must end in one of the following words or abbreviations thereof : Limited, Corporation, Incorporated, Socieded Anonima, “Ltd”, “Corp”, “Inc”, “SA” Foreign characters and companies number can be used
Registered Agent / Office:
A registered agent must be appointed and a registered office must be maintained within the British Virgin Islands.
Taxation:
Any Company incorporated under the new act 2004 and old Acts is not subject to taxation on its worldwide profits.
Double Tax Treaty Network:
There are Double Taxation Agreements with Japan and Switzerland, but they have no impact on IBC companies
Trading Restriction:
The business activity cannot pertain to the banking or insurance industries.
Shareholders:
Minimum one (1).
Disclosure of Shareholders:
The registers of shareholders must be kept. Public filing remains optional.
Disclosure of Beneficial Owner:
No
Directors:
Minimum of one (1) director. Corporation or physical person of any nationality may act as directors.
Local Directors Required:
No
Corporate Directors Permitted :
Yes
Disclosure of Directors:
The registers of directors must be kept. Public filing remains optional.
Company Secretary Required:
Yes
Standard Authorized Share Capital:
US$ 50,000
Bearer shares allowed:
Yes, but must be located with an authorized custodian.
Confidentiality:
The details of the shareholders and directors are not required to be kept on public record, but a register of shareholders and directors must be kept at the registered office.
Annual Reporting:
Files of accounts and annual returns must be kept at the registered office.
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