Juristiction In The BVI

Juristiction In The BVI

Location 6th Floor, Waters Edge, Building 1,Wickham’s Cay 2, Road Town,Tortola, BVI.
Legal system English common law
Language(s) English
Exchange controls None

Company acquisition time

Shelf companies Available on request
New formations 1–2 days

Typical incorporation costs for International Business Companies

Registration/statutory fees US$350.00 – US$1,100.00

(dependent on the number of shares the company is authorized to issue)

Typical professional costs for formation Ranges between US$850 to US$1,000 (for a standard company)

Annual charges for International Business Companies

Statutory fees US$350.00 – US$1,100.00 (on the number of shares the company is authorized to issue)
Registered agent fees US$850.00 – US$1,400 (but depends on time spent on administration)

Shareholders

Minimum number 1
Residency requirements No requirement for shareholder to be resident in the BVI

Share capital

Minimum authorised No minimum requirement
Minimum issued 1 share

Beneficial ownership

Disclosure Not required to be disclosed to the Government, but must be disclosed to the registered office and other service providers as part of anti-money laundering and “know your client” requirements

Directors

Minimum number 1 (one or more Directors are appointed for practical purposes only as there is no legal requirement for Directors to be appointed)
Residency requirements No requirement for directors to be resident in the BVI
Corporate directors Yes, corporate directors are permitted

Local presence requirements

Directors No resident director requirements. Local directors may be provided by agreement with service providers
Annual general meeting Not required for IBC companies.
Audit requirements No requirement for an audit.
Annual accounts A company shall keep records that (a) are sufficient to show and explain the company’s transactions; and (b) will, at any time, enable the financial position of company to be determined with reasonable accuracy.
Migration possible? Yes — companies can migrate to and from the BVI

Tax rates

Offshore companies None