British Virgin Islands - IBC Company Registration
BVI Key Points
- Time - 2 - 3 days to incorporate your company
- Directors - only one director of any nationality, is required for your company
- Shareholders - only one shareholder of any nationality, is required
- Share Capital - there are no minimum share capital requirements
- Accounts - no requirement to file accounts or financial statements with the registry
- Tax - an IBC is exempt from tax on income generated outside the BVI
- Company Name - can end in Ltd, Inc, Corp, SA,
- Confidential - the names of the directors and shareholders do not appear on public records
- Support - using our 20 years experience we guide you throughout every step of the company formation process
In the BVI the standard authorised share capital is US$50,000 with all of the shares having a par value. This is the maximum share capital allowed for the minimum duty payable upon company incorporation and annually thereafter. The company share capital may be expressed in any currency.
Shares may be issued nil or partly paid, however, directors must certify any non-cash consideration by written resolution; the consideration must be certified to represent a reasonable cash value.
Classes of Shares
Classes of shares permitted in the BVI:
- Registered shares
- Shares of no par value
- Preference shares
- Shares with or without voting rights
Shares can be issued with or without a par value and do not need to be fully paid on issue. The minimum issued capital is one share of no par value or one share of par value.
The Share Register of the Company is maintained by the Registered Agent of the company, and the information must be held in strict confidence. The Agent may disclose this information only in the case of a court order or an inspection of the company documentation by the FSC or other BVI authorities. As a result, ownership of Registered Shares will not result in any information about the shareholder being available to the public.
IBC's do not pay income taxes or stamp duties and non-residents of BVI are exempt from income tax payable on interest, dividends, rents and royalties, compensations and other amounts which are paid to the person by the IBC.
Taxation of the BVI IBC on profits
An International Business Company is exempt from any BVI tax on its worldwide profits. Restrictions for BVI IBCs on having business affairs with BVI residents or resident companies do not apply in following conditions:
- If a company has dealings with lawyers, solicitors, accountants, trust companies, management secretarial companies or investment advisors within the BVI regarding professional issues.
- If it holds shares, debt obligations and other securities in other BVI IBC's or local corporations.
- If shares, debt or other securities of the company are held or owned by any person resident of the BVI, BVI IBC or any other local corporation.
- If a company prepares or maintains books and records within the BVI.
- If meetings of company shareholders and directors are held within the BVI
There are no restrictions on carrying on business outside of the BVI by IBCs except such activities that require additional licensing such as banking services, insurance and trusts.