The British Virgin Islands (BVI) is a small state whose national anthem is God Save the Queen. Population of the BVI is about 25 thousand people, and about 90% of them live on Tortola. The largest islands here are Tortola, Anegada, Virgin Gorda and Jost Van Dyke. A mild seaside climate, incredibly beautiful nature, luxury hotels and excellent service attract tourists from all over the world. Favorable ecological conditions, excellent conditions for recreation and tourism, political stability, well-developed banking are considered the main advantages of the islands.
British Virgin Islands (BVI) is one of the oldest and most respected offshore financial centers in the world. As offshore jurisdictions, the British Virgin Islands represent a solid tax haven providing a range of financial and organizational benefits to foreign companies. Once labeled as a “tax haven”, the territory has fought hard against the label in recent years, signing the Multilateral Convention on Mutual Assistance in Tax Matters in June 2013.
The offshore company on the Virgin Islands has a number of advantages to successful realization of various business ideas. An International Business Company (IBC) — is the most commonly used official name for what is more popularly known as an “offshore company”.
BVI companies are exempt from the income tax and all amounts paid by a company: dividends, interest, royalties.
The names of directors and shareholders of companies, registered on the BVI do not appear on any public documents.
The BVI is one of the oldest and most popular offshore hubs with system of right based on the English common law.
Numerous Double Tax Agreements (DTAs) are maintained with the European Union and United States of America.
Low cost license fee in comparison to Belize and many other jurisdictions. Licensing costs are generally less than $30,000.
The BVI does not have VAT, what is a great advantage of this jurisdiction over Belize, where this tax exists and is 12.5%.
The BVI can re-register the company of any country, and does not prohibit its companies from re-registering in other jurisdictions.
On average, the time of company's opening on the British Virgin Islands is 5 days less than in other jurisdictions.
- Certificate оf Incorporation
- Resolution in Writing To Appoint First Director(s)
- Memorandum and Articles of Association
- Apostilled set of documents
- Letter of Acceptance
- Consent Actions of the Sole Director
- Register of Members
- Register of Directors and Officers
- Resolution of Director(s) to Issue Share(s)
- Share Certificate
- Declaration by Director(s)/Shareholder(s)
- Company Seal
Additional documents for Nominee Service:
- Declaration of Trust for Shareholders
- Declaration of Trust for Directors
- Resolution of Director(s) to Issue Power of Attorney
- Power of Attorney under apostille
- Nominee Services Agreement
- Reporting requirement: No
- Open access to reporting: No
- Obligatory audit: No
- Request for the Annual Return: No
- Open access to the Annual Return: No
- Reporting requirement: Yes
- How many countries have signed the Agreement on Avoidance: 120
- Membership in OECD: Yes
- Is it considered offshore under the law of the Russian Federation: No
- Possibility of purchasing ready-made companies: Yes
- Law system: General right
- Turnkey registration of the company: 1 day
- Using Cyrillic in the title: No
- Local registered office: Yes
- Organizational and legal forms: private limited company (ltd), public limited company (plc), Limited liability partnership (LLP)
- Terms of registration of the company in the register: several minutes
- Local Registered Agent: No
- The minimum amount of declared capital: 1 GBP
- Minimum amount of issued capital: No
- Bearer shares are allowed: No
- Possibility to issue shares without par value: No
- VAT: Yes
- Min. Income tax rate for legal entities. Persons: 23.00%
- Capital Gains Tax: No
- Exchange control: No
- Corporate income tax (details):
Director and Secretary
- Minimum number of directors: 1
- Requirement for residency of directors: No
- Directors are allowed to be legal entities: Yes
- The data is disclosed to the local agent: No
- Data is entered in the public register: No
- Requirement for the presence of a secretary: No
- Requirement for residence of secretary: No
- Secretary's qualification requirements: No
- The secretary is allowed to be a legal entity: No
Shareholder and Beneficiary
- Minimum number of shareholders: 2
- Data is entered in the public register: Yes
- Requirement for residence of shareholders: No
- Information about the beneficiary is disclosed: Yes
- The data is disclosed to the local agent: Yes
- Shareholders-legal entities are allowed: Yes