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

Type of Company BC
Type of Law Common
Shelf company availability Yes
Time to establish a new company 2 days
Corporate Taxation Nil
Double Taxation Treaty Access No
Government fees for number of issued shares not exceeding 50,000 US$ 350
Government fees for number of issued shares exceeding 50,001 US$ 1,100
Share capital or equivalent
Standard currency US$
Permitted currencies Any
Minimum paid up US$1
Usual number of shares issued 50, 000
Minimum number One
Local required No
Corporate Directors Permitted Yes
Publicly accessible records No
Location of meetings Anywhere
Minimum number One
Publicly accessible records No
Location of meetings Anywhere
Company Secretary
Required Optional
Local or qualified No
Requirements to prepare Yes
Audit requirements No
Requirements to file accounts No
Publicly accessible accounts No
Requirement to file annual return No
Change in domicile permitted Yes

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