General information

Company structure

• ▪ Only one shareholder (can also be a legal person, no nationality restriction)
• ▪ Only one director (can also be a legal person, no nationality or residency restrictions)

Confidentiality

• ▪ Beneficial owners’ details – Not part of public record
• ▪ Shareholders’ details – Not part of public record
• ▪ Directors’ details –Not part of public record

Taxation

• ▪ BVI Business Companies are exempt from the BVI income tax, tax on dividends, interest, royalties, compensations and other amounts paid by a company; also, they are exempt from capital gains, estate, inheritance, succession or gift tax with respect to any shares, debt obligations or other securities of the company. BVI BC’s are also exempt from any kind of stamp duties related in any way to its assets or activities, with an exception for land-ownership transactions in the BVI, in which case a stamp duty remains payable.

Other benefits

• ▪ The meetings of directors or shareholders need not be held in the British Virgin Islands; also there is no requirement for an Annual General Meeting. All meetings may be held outside the BVI, by telephone or other electronic means. Alternatively, directors and shareholders may vote by proxy.

Accounting requirements

Whilst there is no requirement to file audited accounts or annual returns with the authorities, a company is required to keep financial records, which should reflect its financial position.

Secretary

Optional, although it is customary to have one (can also be a legal person, no nationality or residency restrictions)

Registered Agent

Required

Registered office

Required

Company name

• ▪ Language: Any
• ▪ Letters: From Roman alphabet
• ▪ Company name must end with such sufixes or their abbreviations: Limited, Corporation, Incorporated, Society Anonyme, Sociedad Anonima
• ▪ Names Requiring Consent or a Licence: Bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, university, municipal

N.B.

• ▪ Restricted connections for company name: name of state, national or local government.
• ▪ Any name that implies illegal activity or implies royal or government patronage is restricted.
• ▪ Registrar may reject any name which it considers undesirable or contrary to the public interest.
  
• ▪ Company name is restricted to be identical or similar that of an existing company.
• ▪ In case when foreign language is used for company name the translation must be provided to Registrar which will ensure conformity to above listed restrictions.

Incorporation

• ▪ Name check and approval
• ▪ Filling incorporation documents with the Registrar of Companies
• ▪ Registration Forms
• ▪ A standard set of original corporate documents
• ▪ Payment of the Government
• ▪ Provision of registered office one year
• ▪ Provision of company secretary and registered agent for one year
• ▪ Metal embossing seal

Please provide us with the following documents and data:

 Incorporation

• ▪ A notarized copy of valid passport (of each Shareholder, Director, Beneficial Owner, Authorized Signatory)
• ▪ A copy of proof of residential address (ex. utility bill of each Shareholder, Director, Beneficial Owner, Authorized Signatory that is not older than 3 months) in English
• ▪ Optional: A notarized copy of Bank reference (of each Shareholder, Director, Beneficial Owner, Authorized Signatory)
• ▪ Optional: CV (of each Director and Shareholder)

N.B.

• ▪ If Shareholders and/or directors are legal persons, then it is required to submit full set of apostilled company documents and if company is operating more than 1 year it is required to submit certificate of Good Standing.
• ▪ If documents are not in English language or language of particular country, then they must be accompanied by a notarized translation.

 Capital

• ▪ Amount of paid up capital

 Company name

• ▪ Three company names in order of preference