BVI Company Registration

The British Virgin Islands – BVI company registration is the most popular offshore jurisdiction in the world.

BVI company incorporation packages

Services GOLD
1430 USD
PLATINUM
1980 USD
Company registration including government fees ✔︎ ✔︎
Registered address for 1 year ✔︎ ✔︎
Apostille ✔︎ ✔︎
Company seal ✔︎ ✔︎
Share certificate ✔︎ ✔︎
Courier services ✔︎ ✔︎
Provision of professional shareholder for 1 year   ✔︎
Provision of professional director for 1 year   ✔︎
Total cost 1430 USD 1980 USD
Annual renewal fee 1210 USD 1800 USD

Advantages of incorporating A BVI COMPANY with us:

  • you work directly with a licensed BVI registered agent (read more above our license), and thus:
  • all services are provided much faster, without unnecessary delays
  • you get the best competitive fees for incorporation
  • you get more confidentiality and personal data protection, as we are not an intermediary, and all and any information and documents you provide us with when incorporating are kept on our files only
  • immediate status updates for your order as we do not have to contact any other person to find out the information
  • more than 20 years of experience in the offshore industry (including the British Virgin Islands where we are licensed as a registered agent)
  • 187 employees in our 6 offices worldwide (including the British Virgin Islands) which means that you get not only offshore incorporation and registration, but other legal support services, tax planning advice, bookkeeping, preparation and filing of financial statements, translation and other related corporate and business services

Free Consultation:

Main advantages of doing business using A BVI company:

  • No requirement to have any paid-up share capital – what is more, the BVI law does not require a company to have a share capital, that is, a company may only be authorized to issue shares which gives you much flexibility when it comes to distributions, changing the par value, or effecting redemptions of shares
  • BVI companies may have unlimited number of bank accounts worldwide
  • Off-the-shelf or ready-made companies registered in the British Virgin Islands can be made available to you within a few hours to start your business or open an account without delay
  • NO corporate income tax (a fixed state duty is paid instead)
  • NO requirement to file financial statements in the British Virgin Islands or elsewhere
  • Directors may declare dividends on shares at any time, provided that the company meets the solvency test
  • No prescribed voting majorities: you are allowed to draft the M&AA in such a way as to allow creation of desired share majorities for taking business decisions and approving corporate matters
  • Mergers and acquisitions: BVI companies are allowed to merge with BVI or foreign companies, and the surviving company may be located either in the BVI, or in a foreign country
  • Re-domiciliation: BVI companies can continue in another jurisdiction which allows re-domiciliation
  • Etc, etc, etc…

Incorporation in the BVI

Offshore registrations were introduced in the islands in 1984 when the International Business Companies Act, 1984, was enacted and operated for twenty years having given birth to more than 600 000 IBCs. However, in 1999 international organizations and supranational bodies, including the OECD, launched series of initiatives against so called “tax havens” (however, the British Virgin Islands have never been blacklisted), with a view to eliminate harmful tax competition, which ended with changes in legal regimes of many countries.

Unlike others, the British Virgin Islands tried to stick to a reasonable compromise between the requirements of international authorities and demands of the financial services end users and registered agents. As a result, a new law was enacted: the BVI Business Companies ACT 2004 (No 16 of 2004) regulating both offshore, and local companies. The new Act lifted some restrictions existing earlier for IBCs, and now BVI business companies are allowed to do business with BVI residents and acquire real estate in the BVI.

The new company law provides for incorporation of various corporate forms of business companies, including a company limited by shares or/and guarantee, company with unlimited liability, special purpose vehicles, segregated portfolio company.

Since 2004, a number of significant amendments have been introduced in relation to the company incorporation and maintenance, among which the most interesting and “spectacular” ones are the company register of directors and implementation of the BOSS system.

What is BOSS System?

BOSS System is the Beneficial Ownership Secure Search System which means that a register of beneficial owners of business companies was introduced in compliance with the Exchange of Notes Agreement entered into by the BVI and the UK. Since June 30, 2017, all registered agents in the BVI have to upload details of beneficial owners of each incorporated company into the System, which enables the relevant authorities to have a searchable database containing details of beneficial owners (i.e. persons who either hold 25%+ of shares or effectively control the company).

However, worth mentioning that the register of beneficial owners is NOT PUBLIC, access is allowed only to authorized persons and only for the purposes of implementing their duties under the Exchange of Notes Agreement with the UK (which strives to identify and combat corruption, money laundering, terrorism financing, and other illegal business operations).

Register of Directors

Since April 1, 2016, each BVI registered company has to file its register of directors with the Registrar of Companies (through its registered agent in the British Virgin Islands). This register is also not public (except for the companies which opt for such information to be public), and accessible only upon a request from competent authorities or a court ruling.

Financial Records and Underlying Documents of the Business Company Incorporated in the BRITISH VIRGIN ISLANDS

BVI companies do not have to prepare and file audited financial statements with any authorities in the British Virgin Islands, but the business company need to provide to its registered agent the name of the person responsible for maintaining and controlling the company’s records and also the address where such company records are kept (including registers of the company’s directors, shares, minutes, etc.).

All the above innovations related to incorporation of a business company in the British Virgin Islands had different impacts of the end users: for some of them they are beneficial, as the image of the jurisdiction became more attractive – through reaching more transparency, for some of them they became a reason for migration from the BVI – again, because of reaching more transparency.

Free Consultation:

Corporate info

Shelf companies permitted Yes
Legal system based on English Common Law with local modifications and local statutes
Incorporation timescale for a turnkey company 2 weeks
Cyrillic alphabet permitted in company name Yes
Local registered office Yes
Types of entity Companies Limited by Shares; Companies Limited by Guarantee; Hybrid Companies: Companies Limited by Guarantee, authorised to issue shares; Unlimited Companies, authorised to issue shares; Unlimited Companies, not authorised to issue shares; Restricted Purpose Companies; Segregated Portfolio Companies
Incorporation timescale for a new company 1-5 days
Company suffix “Limited”, “Corporation” or “Incorporated”; “Societe Anonyme” or “Sociedad Anonima”, “Gesellschaft mit beschrankter Haftung”; or – the abbreviation “Ltd”, “Corp”, “Inc” , “S.A.” or “GmbH”; “Unlimited” or the abbreviation “Unltd”.
Sensitive words Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Trust, Royal, or any words of similar meaning, as well as any words that suggest patronage or the British Royalty, the Government of the BVI or the UK, or any government or its department

Shares and share capital

Minimum authorized share capital No requirements
Minimum issued share capital 1 share
Minimum paid share capital 1 share
Authorized capital payment deadlines No requirements
Bearer shares permitted No
Issued capital payment deadlines The deadline is set in the Memorandum or Articles of Association of the Company
Standard currency US Dollar
Standard authorized share capital 50000
Standard par value of shares 1
Shares with no par value permitted Yes

Taxes

Min. rate for corporate tax No
Capital gains tax No
VAT No
Withholding tax No
Exchange control No – for offshore companies
Personal tax No
Corporate tax (in detail) Nil – for offshore companies
Other taxes payroll tax for companies hiring local employees
Government fee 350 USD
Stamp duty No

Accounts

Requirement to file accounts No
Publicly accessible accounts No
Audit required No
Requirement to file Annual Return No
Publicly accessible Annual Return No
Requirement to prepare accounts Yes
Double tax treaties network 1
Tax Exchange Information Agreement network 28
OECD member No

International law relations

Party to the Hague Convention (Apostille) Yes
Legal system based on English Common Law with local modifications and local statutes
Double tax treaties network 1
OECD member No

Tax treaties

Tax treaties entered Switzerland
Tax Exchange Information Agreement (TEIA) Aruba, Australia, Canada, China, Curaçao, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Guernsey, Iceland, India, Ireland, Isle of Man, Japan, Korea (Republic of), Netherlands, New Zealand, Norway, Poland, Portugal, Sint Maarten, Sweden, Switzerland United Kingdom, United States