The BVI is generally regarded as the premier offshore corporate domicile.Tourist advertisements proclaiming the attributes of the British Virgin Islands generally refer to them as “nature’s little secrets”. However, largely as a result of its hallmark International Business Companies (IBC) Act, 1984, the British Virgin Islands (BVI) is no longer a secret within the global financial community.

The BVI’s role as the world leading corporate domicile has attracted delegations from the Bahamas, Malaysia, Hong Kong, Shangai and a number of other offshore jurisdictions - to study our pace-setting legislation; described as simple and flexible to operate

Advantages of an International Business Companies (IBC) in the BVI:
The Ordinance itself offers a host of benefits not readily available in most other offshore centres. These are:

1. International Business Companies are exempt from all local taxes and stamp duty.
2. Maximum security of assets includes the ability to transfer domicile. The directors may protect the assets of the IBC for the benefit of the IBC, its creditors and its members by transferring its assets to another company, trust, foundation, association or partnership; and merge or consolidate with any other BVI company or foreign corporation in another accommodating jurisdiction.
3. Maximum, confidentiality and anonymity are provided by bearer shares being available by the absence of any requirements to file any organisational or accountancy information with the Registrar of Companies, (other than the memorandum of Articles of Association), and by share registers being available for inspection only by registered shareholders or by order of the BVI court.
4. Ease of operation, maintenance and control are facilitated by flexible corporate features. IBC’s can re-quire and re-issue their own shares. Shares can be issued for a consideration other than cash, with or without par value, and be denominated in any currency. Only one subscriber and thereafter one shareholder is required. Single directorates are permitted. Shareholders’ and directors’ meetings are not confined to the British Virgin Islands. Books of account, records and minutes can be maintained elsewhere. There is no statutory requirements to hold annual general meetings. No distinction is made between public and private IBC’s. Incorporations can take place within one or two days. Computerized access for Registered Agents to remotely reserve preferred names is now being finalized.
5. A wide range of application is possible, including: investment, property holding, financial management, trading and copyrighting and/or licensing. Unlike many other jurisdictions, there are no disclosure requirements, nor any minimum capitalization regulations, nor any prohibitive license fees pertaining to trust and trustee companies for application in private-label trust company, unit and mutual fund situations.
6. IBC’s are cost effective when compared with the more traditional centres such as the Bahamas, Bermuda, Cayman, and Liechtenstein. Fees are marginally higher that Liberia and Panama, both of which offer fewer assets protection and political stability benefits. The Government incorporation fee for an IBC having an authorized share capital of $50,000 or less is $300, with an annual license fee of $300. For a company which has share capital over $50,000 the incorporation fee is $1,000, and the annual license fee is $1,000. The annual license fee becomes due in the second year, not the year of incorporation.
7. Four areas in which IBC’s are not permitted to be used are: transacting business with the public in the BVI, owning an interest in real property situated in the territory, insurance and banking, (unless licensed under the Bank and Trust Companies Act, 1990) or, in the case of insurance, approved under the Insurance Business (Special Provisions) Act, 1991.

Price :

Company formation + Bank account opening in BVI from € 1599.00

Annual fees :

• Agency fees : € 490.00
• BVI Tax : $ 350.00

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