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British Virgin Islands Offshore Company

About British Virgin Islands (BVI)

The British Virgin Islands (BVI) have been a British colony in the Caribbean since 1672. The British Virgin Islands are a group of about 50 islands situated in the Eastern Caribbean, 60 miles east of Puerto Rico and 180 miles north of Antigua.
With a stable self-governed political structure, and its own internal legislation based on a common law legal system, this territory enjoys high economic and political stability. BVI companies are not required to file tax returns or any other type of report or declaration to the BVI government regarding foreign-source income. The national currency in BVI is the U.S. Dollar and the official language in English.

Benefits of Setting up an Offshore Business in BVI

  • Exemption from all local taxes for BVI Business Companies conducting business outside of the BVI
  • Well-developed financial services industry
  • Common law legal system based on English law
  • Well-developed professional infrastructure
  • Excellent telecommunications system
  • Easy air access to North America and Europe
  • No foreign exchange restrictions.

Key Corporate Features

General
Type of CompanyBC
Type of LawCommon
Shelf company availabilityYes
Time to establish a new company2 days
Corporate TaxationNil
Double Taxation Treaty AccessNo
Government fees for number of issued shares not exceeding 50,000US$ 350
Government fees for number of issued shares exceeding 50,001US$ 1,100
Share capital or equivalent
Standard currencyUS$
Permitted currenciesAny
Minimum paid upUS$1
Usual number of shares issued50, 000
Directors
Minimum numberOne
Local requiredNo
Corporate Directors PermittedYes
Publicly accessible recordsNo
Location of meetingsAnywhere
Shareholders
Minimum numberOne
Publicly accessible recordsNo
Location of meetingsAnywhere
Company Secretary
RequiredOptional
Local or qualifiedNo
Accounts
Requirements to prepareYes
Audit requirementsNo
Requirements to file accountsNo
Publicly accessible accountsNo
Other
Requirement to file annual returnNo
Change in domicile permittedYes

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