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

Related Documents       Corporate Profile