BVI Key Points
- Timescale: Your company will be incorporated in as little as 2-3 days
- Director: One director: individuals must be 18 years or over
- Shareholders: One required
- Share Capital: No minimum share capital
- Accounts: Accounts or financial statements are not filed
- Confidentiality: Names of the directors and shareholders do not appear on public record
- Support: Using our 20 years experience, we guide you through every step of the company formation process
In the BVI the standard authorised share capital is US$50,000 . 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.
On January 1st, 2019, The Economic Substance (Companies and Limited Partnership) Act 2018 (“ES Act”) came into force in the British Virgin Islands (“BVI”) .
The ES Act simply requires that companies and limited partnerships conducting specifically targeted relevant activities will have to show substance/presence in the British Virgin Islands, unless they are tax resident in another jurisdiction.