Company registration in the British Virgin Islands

Legislation

The International Business Companies Act was adopted in 1984; subsequent amendments have made the BVI a highly competitive offshore jurisdiction.

Under normal circumstances, a BVI company can be registered within 3 working days.

Flexible structure of an offshore company in the British Virgin Islands.

Only one director or shareholder is required to register a company.
The shareholder(s) and director(s) may be the same person.
The shareholder(s) and director(s) may be an individual or another company.
There is no requirement to appoint a local shareholder(s) or director(s) for British Virgin Islands companies.
There is no requirement to have a secretary.

The use of nominee directors makes it possible to ensure full confidentiality of the beneficial owners.

Shares may be issued with or without par value;
Shares may be issued in any currency or denominated in more than one currency;
Shares may be paid for in cash or by transferring other assets;
The standard authorised share capital is USD $ 50.000 or the equivalent in another currency.

Under the BVI IBC Act of 1984, offshore companies are exempt from all taxes for a period of 20 years.

BVI legislation does not require any reports on the company's activities to be filed. If the shareholders or directors decide to prepare and keep such records, this can be done anywhere in the world.
Likewise, there is no requirement to keep any records relating to transactions on the company's accounts. If the shareholders or directors consider it desirable and necessary, these records can be kept anywhere in the world.

There are no requirements to hold meetings of directors and/or shareholders.
If a decision is made to hold such a meeting of the shareholders (shareholder) and/or director(s), these meetings may, if desired, be held by telephone or any other electronic means of communication, provided that all participants can hear each other clearly.
If a meeting is considered necessary, it can be held anywhere in the world.

There are no restrictions on any type of company activity other than illegal activities and those subject to mandatory licensing.

A BVI offshore company may not do business with BVI resident companies, except in the following cases:

when the company maintains professional contacts with lawyers, accountants, trust companies, management companies, investment advisers and other similar individuals or legal entities operating in the British Virgin Islands.
if the company prepares and keeps its accounting records in the British Virgin Islands (if a decision has been made to keep such books and documents).
if the company holds meetings of its founders in the British Virgin Islands (if it so wishes).
if the company leases property for use as an office where the company's books and records are kept (if such a decision has been made).

The name of your offshore company must end with one of the following words, phrases or abbreviations: "Limited", "Corporation", "Incorporated", "Société Anonyme", "Sociedad Anonima", "Ltd.", "Corp.", "Inc.", "S.A.".