British Virgin Islands (BVI) | Interstatus - Group of Companies British Virgin Islands (BVI) – Interstatus – Group of Companies

General Information:

The British Virgin Islands (BVI) is a UK overseas territory located in the West Indies, near the Caribbean, and consists of 42 islands and rocks. Virgin Islands is a Caribbean tourist destination boasting a clean environment and a variety of well-protected harbours. The country enjoys one of the most sustainable economies of the region with an equally high standard of living and attracts close to a million visitors a year from all over the world. These tourists enjoy beach holidays, diving, sailing and wind surfing.

The local population is 27,500. The national capital is Road Town.

English is the official language.

The US Dollar is the official currency.

BVI is a major offshore zone and a widely acclaimed leader among the conventional offshore jurisdictions with zero taxation. Offshore and banking sectors, along with licence fees, tourism and services, are the main factors of the sustainable national budget. The firm reputation of the BVI financial services sector is evidenced by a strong and stable inflow of international investment.

The incorporation and operations of international business companies is regulated by the Business Companies Law of 2004, as amended. The Law has removed the distinction between local and international companies. In addition, the Law has introduced the new legal environment, setting the corporate tax rate at 0%.

The benefits for companies in BVI:

  • Attractive and loyal legislation for offshore operations.
  • High level of confidentiality: no disclosure of beneficiary, shareholder or director information.
  • Any private individual can be a beneficiary.
  • Re-domiciliation from any country allowed.
  • No minimum or maximum capital and capital payment requirements; declaration of any currency.
  • No personal visit to the bank is required to open a bank account.
  • Company administration is very simple with no requirement for a large number of staff.
  • No exchange controls.
  • No requirement for annual meetings of shareholders; if needed, the meetings can be held anywhere in the world.
  • No financial statements or audit requirements.
  • No corporate, dividend, interest and royalty taxation or inheritance duties.

Registration of BVI companies:

Company structure:

Director(s):

Minimum one natural person or corporate entity.

No residency restrictions.We will provide your company with the local (nominee) directors, in full compliance with the laws of the jurisdiction, to administer the operation of the company according to your instructions.

Shareholder(s):

Each company shall have at least one shareholder (who may also be a director). No residency rules apply. If the potential beneficiary of the company wishes to preserve total anonymity, our firm can provide nominee shareholders.

Secretary:

No secretary is required.

If you require the services of a secretary we can provide any relevant services. Please contact us for detailed information on virtual office services.

Registered office:

By law all BVI companies must have a registered office.

Share capital:

In most cases the share capital is made up of 50,000 shares with the nominal value of $1.00. Shares without fixed par value are allowed. Registered shares or bearer shares (which are subject to a higher levy and custody deposit) may be issued. No requirements for the mandatory payment and maximum capital apply. The number of shares can be varied subject to payment of the government licence fee.

Registration period:

7-10 days. Shelf companies are available.

Accounting and auditing:

No audited financial statements are required.

It should be noted that offshore legislation imposes some regulations governing the maintenance and filing of financial documents:

1) BVI companies are obliged to maintain accounts to reflect financial operations, and such accounts shall:

  • provide a fair and accurate view of the financial condition of the company at any time;
  • include evidence and explanation of each transaction;
  • be kept in the office of the registered agent for a period of 5 years; if the documentation is kept elsewhere, the company must inform the agent of the physical address at which the documentation is kept within 14 days.

2) companies are required to keep incorporation documents and certificates, shareholder and director registers and copies of all records submitted over the last 10 years in the office of the registered agent;

3) companies are required to keep minutes of meetings and resolutions of the shareholders and directors of the company in the office of the registered agent or at any other place at their discretion.

Breach of any regulation above will entail a penalty of $10,000.

BVI shall keep the Register of Charges at their registered office. Breach of this requirement will entail a penalty of $5,000.

Official Company Register:

Incorporation details (company name and registration details) in BVI are filed with the Company Registrar,. Details of the beneficiary, shareholders and directors are not provided.

Records kept by the Company Registrar are not accessible to the public.

BVI taxation regulations:

Any income generated by companies outside BVI is free of any tax.

  • profit, dividend, interest, royalty tax – 0%;
  • capital gains tax – 0%;
  • tax at the source of payment of the above income – 0%;
  • value added tax – 0%;
  • personal wealth and estate tax – 0%.

All companies are liable to pay the annual licence fee:

– $350 if the number of issued shares is up to 50,000;

– $1,000 if the number of issued shares exceeds 50,000.

Double taxation treaties:

Double taxation treaties with the United Kingdom, Japan and Switzerland are applied to non-resident companies only and do not apply to offshore companies.

For more information on the registration and administration of BVI companies or in any other jurisdiction, please contact our experts.

1st year

BASIC
$1500
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
STANDARD
$2660
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder
PREMIUM
$3160
  • Company Incorporation
  • Government Fees
  • Corporate Document Set with Apostille
  • Registered Office
  • Agent Fees
  • Company Stamp
  • Courier
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder
  • Cyprus Bank Account Opening

2nd year

BASIC
$920
  • Registered Office Fees
  • Registered Agents Fees
  • Annual Government Tax
  • Administrative and Compliance Fees
STANDARD/PREMIUM
$2080
  • Registered Office Fees
  • Registered Agents Fees
  • Annual Government Tax
  • Administrative and Compliance Fees
  • Nominee Director
  • Power Of Attorney with Apostille
  • Nominee Shareholder

* Renewal of the Company due as follows:

  • For the companies incorporated between January 1st to June 30th funds must be credited to our account for payment to the Registry before May 31st deadline to avoid penalties.
  • For companies incorporated between July1st to December 31st funds must be credited to our account for payment to the Registry before November 30th deadline to avoid penalties.

Please contact us for a detailed price list and additional information.