International Business Company
Why Business Companies—British Virgin Islands (BVI-BC)?
Business Companies (“BC”) are incorporated in the British Virgin Islands (“BVI”) under the International Business Companies Act, 2004. BC’s are the most widely used companies because of their flexibility, confidentiality, straightforward administration and exemption from all local tax. They have been embraced by the international financial community and are suitable for almost any type of international business activity.
Some of the key features are listed below:
Jurisdiction | British Virgin Islands |
Type of Entity | BC |
Type of Law | Common Law |
Shelf Company availability | Yes |
Our Time to establish a new company | 2 Days |
Taxation on foreign income | Nil |
Double Taxation treaty access | No |
Standard currency of share capital | US$ |
Other permitted currencies of capital | Any |
Minimum paid up share capital | US$1 |
Usual authorized share capital | US$50,000 |
Minimum number of Directors/Managers | 1 |
Local Directors/Managers required | No |
Publicly accessible record of directors/Managers | No |
Locations of directors/managers meeting | Anywhere |
Minimum number of members | 1 |
Publicly accessible record of members | Optional |
Location of members meeting | Anywhere |
Company Secretary required | Optional |
Local or Qualified company secretary required | No |
Requirement for Audited accounts | No |
Requirement to file accounts | No |
Publicly accessible accounts | No |
Requirement to file annual return | No |
Change in Domicile permitted | Yes |
Requirement to prepare accounts | Yes |