BVI Company Formation

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Jurisdictions >> BVI Offshore Companies >> BVI Company Registration

BVI Company. BVI Company Formation

Worldwide Incorporation Services specializes in BVI company formation and opening bank accounts.

British Virgin Islands – General Information

BVI Company

Location: Caribbean, between the Caribbean Sea and the North Atlantic Ocean, east of Puerto Rico.
Area: total: 151 sq km, land: 151 sq km, water: 0 sq km, comprised of 16 inhabited and more than 20 uninhabited islands; includes the islands of Tortola, Anegada, Virgin Gorda, Jost van Dyke.
Natural resources: NEGL; pleasant climate, beaches foster tourism.
Population: 35,015 (July 2017 est.).
Capital: Road Town 15,000 (2018).
Time Zone: UTC−4.
Language: English (official).
Government type: Parliamentary democracy (House of Assembly); self-governing overseas territory of the UK.
Legal system: English common law.
International organization participation: Caricom (associate), CDB, Interpol (subbureau), IOC, OECS, UNESCO (associate), UPU.
Economy: The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism, which generates an estimated 45% of the national income. Because of traditionally close links with the US Virgin Islands, the British Virgin Islands has used the US dollar as its currency since 1959. Livestock raising is the most important agricultural activity; poor soils limit the islands’ ability to meet domestic food requirements.

In the mid-1980s, the government began offering offshore registration to companies wishing to incorporate in the islands, and incorporation fees now generate substantial revenues. The adoption of a comprehensive insurance law in late 1994, which provides a blanket of confidentiality with regulated statutory gateways for investigation of criminal offenses, made the BVI even more attractive to international business.
Currency: US dollar.

Overview

The British Virgin Islands, or BVI for short, is a group of fifty islands in the Caribbean forming a British Overseas Territory. The main islands within this group are called Tortola, Virgin Gorda, Anegada and Jost Van Dyke. They have been autonomous from Britain since 1967. While the official name is the Virgin Islands, they are usually called the British Virgin Islands to separate them from the nearby American Virgin Islands.

Advantages of BVI Company Formation

Forming a company in the British Virgin Islands means setting up a so-called BVI Business Company or BVI BC. These are the most popular form of offshore companies in the world. They are available to residents of any country in the world and can be formed as a continuation of another company in another part of the world. There are many benefits to a BVI BC:

  • 0% corporate tax
  • 0% capital gains tax
  • 0% profit tax
  • 0% gift tax
  • 0% sales tax / Value Added Tax
  • 0% inheritance tax
  • No stamp duty except for land transactions in the British Virgin Islands itself
  • No restrictions on doing business anywhere in the world
  • Ability to transfer and repatriate money without fees
  • No currency exchange fees or limitations
  • A minimum of one shareholder is required for a BVI company formation
  • A minimum of one director is required for a BVI company formation
  • Corporate directors and shareholders are permitted
  • No need to publicise company directors, officers, owners or shareholders

BVI Company Formation – Legislation

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).

Key Facts

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

A BVI Offshore Company cannot trade within the British Virgin Islands or own real estate there. Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Agent Required

Each BVI Company must have a Licenced Registered Agent.

Registered Office Required

Each BVI Company must have a Registered Office, provided by a Licenced Registered Agent.

Directors

A BVI Company requires a minimum of one director. Director can be of any nationality and need not be resident in the British Virgin Islands. Corporate directors are permitted.

Shareholders

A BVI Company requires a minimum of one shareholder.

Publicly Accessible Records

No.

Nominee Shareholders and Nominee Directors

Allowed.

Location of Meetings of Directors and Shareholders

Anywhere.

Personal Presence Required

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.

Time required for BVI Company Formation

Two days.

BVI Company Formation – Name of a Company

Language of Name

English.

Restricted Words

Words such as “Assurance”, “Bank”, “Building Society”, “Royal”, “Trust”, “Trustee” etc. will require justification.

Name of a BVI Company

The words “Limited”, “Corporation”, “Incorporated”, “Societe Anonyme”, “Sociedad Anonima” or Ltd, Corp., Inc., S.A. must be part of the name.


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BVI Company Registration – International Packages


Packages

COMPARE PACKAGE FEATURES

Corporate Consultancy

Name Check

Initial Approval

Preparation of Application Documents

Drafting and Filing of M&A with the Registry

Company Registration

Incorporation Service Fee

Registered Office Address for 1 Year

Registered Agent’s Service Fee for 1 Year

Secretarial Services for 1 Year

File the Director's data to the British Virgin Islands Registry of Companies

Certificate of Incorporation

Appointment of First Director (AFD)

Consent to Act as Director

Memorandum of Association

Articles of Association

Apostilled Set for International Use (duplicate COI, original AFD, copy M&A)

Register of Directors & Officers

Registers of Shareholders

Share Certificate

Resolution Issuing Share Certificate

Rubber Stamp

Daily Update Regarding The Full Process

Provision of a Corporate or Individual Director for 1 Year

Power of Attorney with Apostille

Resolution issuing Power of Attorney

Confidential Shareholder Service for 1 Year

Declaration of Trust


SILVER

USD 990

-

-

-

-

-

GOLD

USD 1590

PLATINUM

USD 1990


 
* Government Licence Fee USD 450 is not included (payable to the Registrar of Companies every year)

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Why Choose Worldwide Incorporation Services?
  • We’ve been helping business owners since 1998
  • Incorporating your business is our focus
  • We make a complex process fast and easy
  • We work closely with BVI Companies Registry to guarantee our service

Ready-Made BVI Companies

This is a list of ready-made and approved company names available as of today.

VEDONICA INC. Approved View Packages
LERONICA INC. Approved View Packages
NERONA LTD. Approved View Packages
DERONA LTD. Approved View Packages
PERONICA LTD. Approved View Packages
ZERONICA INC. Approved View Packages
CITY DIVINE LIMITED 08.06.2018 View Packages
TRIUMPH AVENUE LIMITED 31.05.2018 View Packages
CEDAR VILLE GLOBAL LIMITED 18.05.2018 View Packages
SUN BEAUTY INVESTMENTS LIMITED 18.05.2018 View Packages
MCCONVILLE LIMITED 14.05.2018 View Packages
ELLANBY HORIZON LIMITED 02.05.2018 View Packages
DIMIRA GROUP LTD 01.07.2015 View Packages
ADONIS ALLIANCE LTD 24.03.2015 View Packages
BERLONA TRADING LTD 11.11.2013 View Packages
BERFORD INVESTING LTD 11.11.2013 View Packages
WENTURA COMMERCE LTD 16.09.2013 View Packages
WENTURA ALLIANCE LTD 16.09.2013 View Packages
NEXXUS CONSULTING LTD 16.09.2013 View Packages
ARONEX CAPITAL LTD 23.04.2013 View Packages
ENORA PARTNERS LTD 20.03.2013 View Packages
RENSBERG TRADING LTD 20.03.2013 View Packages
ARTUS COMMERCE LTD 17.10.2012 View Packages
ALFARE CONSULTING LTD 03.10.2011 View Packages
COVENT COMMERCE LTD 03.10.2011 View Packages
CORLEON COMMERCE LTD 23.06.2011 View Packages
LANTANA CONSULTING LTD 06.05.2011 View Packages
NOTTING PARTNERS LTD 04.05.2011 View Packages
SOLMARA ALLIANCE LTD 19.11.2008 View Packages
ALMIDA GROUP LTD 11.09.2008 View Packages

How To Buy a Ready-Made Company
To buy a Ready-Made Company please contact one of our offices or submit an online enquiry.

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BVI Company Formation – Office Addresses

 

Services related BVI Company Formation | BVI Company Registration

Worldwide Incorporation Services provides the following services related BVI Company Formation:

  • BVI Company Formation
  • Registered Office and Agent Services
  • Secretarial Services
  • Nominee Shareholder/Nominee Director
  • Opening of Bank Accounts
  • Full Administration Services
  • Mailing Address
  • Trademark Registration
  • Yacht Registration

Interested in BVI Company Formation?


Worldwide Incorporation Services | BVI Company Formation / Registration

 

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How to proceed
To start your business in the British Virgin Islands please contact one of our offices or submit an online enquiry.

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