British Virgin Islands Offshore Company Incorporation

A company for international trade or investment is incorporated under the Business Companies Act 2004 and this page describes some of the features of British Virgin Island International Business Companies.

Business Transactions

IBC's may engage in any lawful business in any country and may carry on transactions in whatever currencies they choose

Taxation

The British Virgin Islands operates a zero rate of tax for all companies

Authorized Capital / Shares

Nominative or bearer shares at owner's option
An Authorized Depository must hold bearer share certificates
There is a higher annual license fee if the company may issue bearer shares
No paid-in capital is required
No minimum or maximum capital requirements

Directors, Officers (Secretary) and Shareholders

Shareholders, 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
Companies may have a sole director
Neither the directors nor the officers need be shareholders
Shareholders, directors and officers may be of any nationality and may be resident of any country
Shareholders and directors may hold their meetings in any country and may attend such meetings by proxy or by any electronic means (phone, fax, etc)

Annual Filing

No requirement to file annual returns or financial statements; no requirement to hold annual general meetings of shareholders or directors

Incorporation and Administration

Excellent availability of company names for incorporation
Familiarity of incorporation documents (Memorandum & Articles of Association, Certificate of Incorporation) because the British Virgin Islands belongs to the British Commonwealth
The words "Limited" may be used in a company's name
Incorporation documents may be drafted in any language but there must also be an English translation
Speedy incorporation
The BVI Registry is equipped with modern sophisticated computer equipment, wihich heightens speed and effeciency in the processing of documents in a timely manner
Registration of mortgages on vessels and aircraft available

Record Keeping

The accounting books, records and minutes of the company may be kept in any place or country at the director's choice
The law does not require annual accounts

Registered Office and Corporate Seal

Registered Office in the British Virgin Islands is required
A corporate seal is required

Redomiciliation

Foreign companies can be speedily re-domiciled to the BVI

To talk to an adviser specialising in offshore company formation in the British Virgin Islands, call us on +353 1 431 9663 or complete our contact form.