British Virgin Islands

Offshore IBC Company

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Company Formation in British Virgin Islands

Officially the Virgin Islands, known also as BVI, British Virgin Islands are a British overseas territory located in the Caribbean to the east of Puerto Rico. The islands make up part of the Virgin Islands archipelago. The remaining islands constitute the US Virgin Islands and the Spanish Virgin Islands.

As one of the popular and widely used offshore companies, BVI’s main advantages are the administrative ease, flexibility, taxation exempt status and speed with which it is possible to register a company (1-2 days).

BVI has an independent judicial system based on English Common Law. Laws and regulations are routinely developed in consultation with the private sector. Client’s confidentiality is robustly enshrined in the BVI corporate and business legislation.

Since the adoption of the British Virgin Islands International Business Companies Ordinance in 1984, the BVI IBC has attained a model status in the offshore services industry. In January 1, 2005 a brand-new version of the BVI Business Companies Act came into force and brought all the substantial benefits afforded by the previous legislation ready to face the offshore financial industry in the 21st century.

Advantages of company incorporation in British Virgin Islands:

English is the official and spoken language and all the workplace, including company documents, contracts written, assessed are in English;

No taxes of any sort – Corporation tax/Income tax 0%, Tax on Dividends – 0%, Withholding tax – 0%;

In place of tax, there is a fixed annual government fee, as well as an annual registered agent fee;

There are no restrictions on foreign Directors or Shareholders, individual or corporate;

The minimum issued capital is one share. The usual authorized share capital is US$50,000 divided in to 50,000 shares of US$1. The share capital can be expressed in any currency.

There is no withholding tax on interest, dividends and royalty, no capital gains tax in BVI;

Interim dividends distribution is allowed. Distribution to foreign entities or individuals are not taxed in BVI;

Nominee services are available;

No requirement to file audited accounts with the authorities. However The BVI Mutual Assistance Amendment Act, 2012 states that it is mandatory for a company to keep reliable accounting records for a minimum of five years from the date of transaction;

Board Meetings can be held anywhere in the world.

Summary of British Virgin Islands Company and main characteristics:

General Information
Type of companyInternational Business Company (IBC)
Corporate LegislationThe BVI Financial Service Commission is the governing authority and companies are regulated under the Business Companies Act 2004.
TaxationNo taxes of any sort.
Corporation Tax – 0%
Tax on Dividends – 0%

Withholding tax – 0%
CurrencyStandard Currency US$
Share Capital can be in US$ or any other currency;
Paid up capital requirementNo paid up capital required
Time zoneGMT-4
Minimum no. required1
Local Director requiredNo
Location of MeetingsAnywhere
Minimum no. required1
Location of MeetingsAnywhere
Company Secretary
Local Secretary requiredNo
Registered office requiredYes
Share Capital
Standard CurrencyUSD
Standard Authorized Capital50.000 US$
Minimum paid up capital1 US$
Accounting Requirements
Preparation of accountsNot required, only keep financial records
Requirement for auditNo
Accounts public accessibleNo
Requirement to file Annual ReturnNo
Further Information
Bearer sharesYes, on certain conditions
Nominee servicesAvailable
Need to travelNo
ApostilleYes, Hague Convention 1961
OwnersIndividuals or Corporate

Register your British Virgin Islands Company

Company Formation – with all services included for the first year: € 2800;

Certificate of Incorporation;

Memorandum and Articles of Association;

Appointment of Director(s), Distribution of Shares, Minutes, Resolutions in accordance with banks requirements;

Share Certificate(s);

Authorized Share Capital of 50,000USD$;

Local Registered Office Address;

Registered Agent;

Personal manager assistance for the entire period.

Renewal Fee after one year – with all services included for the next year: 3100

Local Registered Office Address;

Registered Agent;

Government annual fees;

Personal manager assistance for the entire period.

Nominee Director – Individual or Corporate as per client’s request: € 800

Nominee Shareholder – Individual or Corporate as per client’s request: € 800

Power of Attorney – General / Special PoA Notary Legalized with Apostille, in accordance official institutions and with banks requirements: € 500

Certificate of Good Standing with Apostille, in accordance with official institutions and banks requirements: € 450

Certificate of Incumbency with Apostille, in accordance with official institutions and banks requirements: € 450

Legalization of Documents:

  • Document Notarization per document: € 500
  • Bundle of documents Notarization;
  • Document Apostillation per document;
  • Bundle of documents Apostillation.

Company Seal: € 100

Company Rubber Stamp: € 150

Bank Account opening service – Quotation based on each particular case;

Compliance Service – After Company Incorporation Services – new persons, legal entities, annual compliance review: € 75/hour

Accounting & Bookkeeping – Quotation based on each particular case.

Starting fee: