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.