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British Virgin Islands Business Company (BVI BC) is the world's most popular offshore legal entity. About 41% of the world's offshore companies have been formed in the BVI.
Major advantages of BVI BC:
On January 1, 2007 the British Virgin Islands Business Companies Act 2004 became the sole Business Companies Act in the BVI.
The BVI BC Act removed the differences between BVI 'offshore' and 'onshore' legal entities. The term 'International Business Company (IBC)' was replaced by the term 'Business Company (BC)'.
The Act cancelled restrictions on doing business in the BVI, which existed for BVI IBC. BVI BC is allowed to conduct business with BVI residents and buy real estate property in the BVI.
Despite of the new BVI legislation a lot of offshore service providers continue to use the traditional term "IBC" in regards to BVI Business Company.
The word "Limited", "Corporation", "Incorporated", "Societe Anonyme" or "Sociedad Anonima" or the abbreviation "Ltd", "Corp", "Inc" or "S.A." must be part of the name. Restricted names are ones that the Registrar may consider to be misleading, and include, for example, bank, financial, trust, insurance, trust, stock exchange, etc.
Office Address and Local Agent
Registered office address must be located in the BVI. Principal office address (business address) may be in any country.
Each company has to have a local registered agent authorized by the BVI government.
Our fee includes BVI registered office address and registered agent for the first year.
A minimum of one shareholder is required. Residents of any country, individuals and legal entities may become shareholders of BVI BC.
Nominee shareholder services are available.
Directors and Officers
A minimum of one director is required.
Positions of President, Secretary and Treasurer are mandatory for each BVI company.
Any persons including individuals and legal entities, such as corporations, limited liability companies, etc. residents of any country may be appointed as directors and officers of the BVI BC.
One person may hold all positions - director, president, secretary and treasurer.
British Virgin Islands Business Companies Act 2004 has abolished the idea of authorized capital of the company and replaced it with a maximum number of shares, which the company is authorized to issue.
Number of shares the BVI company is authorized to issue affects the government incorporation fee and annual fee.
If a company is authorized to issue up to 50,000 shares, the government fee is $350.
If a company is authorized to issue any number of shares exceeding 50,000, the BVI government fee is $1,100.
If a company limited by guarantee that is not authorized to issue shares or an unlimited company that is authorized to issue shares, the BVI government fee is $350.
BVI BC may be authorized to issue shares with or without a par value.
Standard BVI company is considered a company, which is authorized to issue a maximum of 50,000 ordinary shares of a single class with a par value of US$1.00 each. Such company satisfies 99% of our clients.
Our fees always include the government fees.
BVI BC has no power to issue bearer shares unless authorized by its memorandum or articles of association.
Issued bearer shares must be immobilized. All bearer share certificates must be placed in the safekeeping of a custodian, who has been approved by the BVI Financial Services Commission.
BVI companies authorized to issue bearer shares usually have problems with opening corporate bank accounts. International banks are reluctant to accept applications from such companies.
Therefore, our company does not offer BVI offshore companies authorized to issue bearer shares. For those clients, who need an extra layer of privacy protection, we offer nominee shareholder services.
There are no income or other taxes for BVI BC or its directors, officers and shareholders.
Names of the directors, officers and shareholders are not filed with the BVI Register of Companies, not included in the Memorandum and Articles of Incorporation and not available for the public.
Our company offers Nominee services, as an extra layer of privacy protection.
Accounting and Audit Requirements
There are no accounting and audit requirements for BVI companies.
Annual General Meeting
Time Required for Incorporation
We incorporate BVI companies the same or next business day. Time required for receiving of the registration documents from the BVI Register of Companies and legalization of the documents with Apostille is 5 to 8 business days.
Shelf companies are available immediately, and may be dispatched the next business day if ordered before 1.00 p.m. Eastern Time. If the Apostille legalization is required, it usually takes 2 to 4 business days.
We incorporate BVI companies and keep them in our office as shelf companies for convenience of our clients. All shelf companies do not have any previous business transactions. When a client buys a shelf company of any age, he may be absolutely confident that he is the first owner of it.
Please check our Shelf Company List.
Virtual Office Services
Our company offers BVI mail forwarding services and other tailored office services.