BVI Offshore Companies (BVI BC) - General Information

Principal Corporate Legislation
The BVI Business Companies Act, 2004 ("the Act") as amended.

Type of Law
Common.

Language of Legislation and Corporate Documents
English.

Type of Company for International Trade, Investment & Tax Planning
BVI BC (Business Company).

BVI Business Company

Share Capital
There is no concept of authorised share capital in the Act.
Standard authorised share capital is US$50,000. Minimum paid up share capital is US$1.

Classes of Share Available
Registered shares, shares of no par value, bearer shares, preference shares, redeemable shares and shares with or without voting rights. Bearer shares will be subject to anti-money laundering and due diligence obligations and a company which is authorised to issue bearer shares pays higher incorporation and annual fees.

Bearer Shares
Permitted.

Restrictions on Trading
Cannot trade within the BVI. Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Office Required
Yes, must be maintained in the BVI.

Directors
The minimum number of directors is one. Director can be of any nationality and need not be resident in the BVI. Corporate directors are permitted.

Shareholders
The minimum number of shareholders is one.

Publicly Accessible Records
No.

Nominee Shareholders and Nominee Directors
Allowed.

Location of Meetings of Directors and Shareholders
Anywhere.

Disclosure of Beneficial Ownership to Authorities
No.

Taxation
Nil.

Double Taxation Treaty Access
None.

Requirements to File Accounts
None.

Requirement to File Annual Return
None.

Audit Requirements
None.

Currency
US Dollar.

Exchange Control
None.

Language of Name
English.

Required Words
Words such as "Assurance", "Bank", "Building Society", "Royal", "Trust Company", "Trustee Company" etc. will require justification.

Name of a Company
The words "Limited", "Corporation", "Incorporated", "Societe Anonyme", "Sociedad Anonima" or Ltd, Corp., Inc., S.A. must be part of the name of every company.

Time to Incorporate
Two days.

Cost of Formation