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Services

BVI COMPANY

OVERVIEW

Business Company’s (‘BC’s’) are companies incorporated in the British Virgin Islands (‘BVI’) under the International Business Companies Act, 2004 (All companies previously incorporated under the International Business Companies Act, 1984, automatically became subject to the BVIBC Act from 1st January 2007).

BVI BC’s are a well-known and widely used offshore company because of their administrative ease, flexibility, taxation exempt status and the fact that they are widely accepted and understood by the international financial community. BVI BC’s may not own real property in the BVI, other than the lease of an office, and may not carry on banking or trust business (unless licensed under the Banks and Trust Companies Act, 1990) or insurance or re-insurance business (unless licensed in the BVI to carry on that business). Otherwise, BVI BC’s may engage in any activity that is not illegal under the laws of the BVI subject to any restrictions in their Memorandum of Association.

MAIN CHARACTERISTICS OF THE BVI BUSINESS COMPANY

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
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 Yes
Minimum number of Members (shareholders) One
Register of Members To be kept by the Registered Agent
Register of Members filed 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
Re-domicile a foreign company into BVI Yes
Re-domicile a BVI company abroad Yes

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