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Key Facts About BVI

  • The main act that is regulating the way the companies are organized, managed or liquidated is the BVI Business Companies Act.
  • The most common form of business in the British Virgin Islands is the company limited by shares.
  • The offshore companies enjoy a special regime where many taxes are abolished: capital profits taxes, inheritance fees, estate fees, gift taxes, succession taxes or even income taxes (on interests, dividends, royalties, compensations).
  • The only tax that remains valid is the stamp duty on land ownership transaction.
  • The lands are taxed by acre and the value of the fee is 50 USD. The annual rental income is taxed with 1.5% annual tax rates.
  • The real estate transactions are taxed with a stamp fee of 12%.
  • Trusts are exempt from paying taxes if certain conditions are met, such as not performing any commercial activities in BVI, not owning land in BVI and being created by or in behalf of a foreign entity.
  • BVI is included on the white list of the Organization for Economic Cooperation and Development, for signing many Tax Information Exchange Agreements.
  • BVI is being placed alongside major economies like United States, the United Kingdom, Canada, Germany or France, becoming a safe jurisdiction for performing economic activities by the foreign companies.
FACTOR DESCRIPTION
Income tax in BVI None
Conduct business internationally Yes
Conduct business within BVI Yes
Formally considered as resident in BVI Yes
Official language / language of documents English
Operational objects No requirement to specify
Authorized capital Not required as a concept
Minimum paid-up capital No specific requirements
Considerations to the capital In any currency or in kind
Most effective number of shares
(maximum amount at minimum state fee)
50,000 shares (with or without par value)
Bearer shares Yes (but to be held by a custodian only)
Registered Agent in BVI Required
Registered Address in BVI Required
Minimum number of directors One
Non-resident directors Allowed
Corporate directors Allowed
Register of Directors To be kept by the Registered Agent
Register of Directors filed for public record No, but may choose to do so
Minimum number of Members (share holders) One
Register of Members To be kept by the Registered Agent
Register of Members field for public record No
Holding of Annual General Meeting Not required
Convention of Meetings of Directors / Members Anywhere in the world, also by proxy
Corporate Seal Mandatory
Imprint of Corporate Seal To be kept by the Registered Agent
Corporate Minutes and Resolutions To be kept by the Registered Agent
Disclosure of beneficial owners to Registrar No
Disclosure of beneficial owners to Agent Yes (confidential due diligence)
Keeping of accounts Internally, only to enable a reasonably accurate determination of financial position
Auditing of accounts Not required
Filing of accounts Not required
Double-tax avoidance treaties Switzerland, Japan
Currency controls / restrictions None
Available special types of company Restricted purpose company
Segregated portfolio company
Redomicile a foreign company into BVI Yes
Redomicile a BVI company abroad Yes
Net time to incorporate 3-5 days
Ready-made (shelf) companies Available