Setting up an offshore company in the British Virgin Islands (BVI)
The British Virgin Islands are an overseas territory of the United Kingdom. It consists of more than 50 islands in the Caribbean. Its major islands include Tortola, Virgin Gorda, Anegada, Jost Van Dyke, Great Camanoe, Guana Island, Peter Island, Salt Island, Beef Island, Cooper Island, Ginger Island, Norman Island and several smaller islets in the Sir Francis Drake Passage. A few of the islands are privately owned, for example Necker Island is owned by Sir Richard Branson and Peter Island is owned by JVA Enterprises, a company owned by the founders of Amway.
Its capital is Road Town, on the island of Tortola. It is the financial and commercial centre of the country.
It is listed as a non-independent territory by the United Nations Committee against Colonialism.
The islands have one of the most prosperous economies in the region, with a GDP per capita of $15 000. Its main source of income is tourism, popular mainly with US tourists, who visit around 500 000 a year. The white sandy beaches are the most popular tourist destination, with many people indulging in open water diving and it is also one of the world's most popular sailing destinations.
Significant revenue is generated from the licensing of offshore companies. More than 800 000 offshore companies have been registered since 1984. Major economic partners are the US Virgin Islands, Puerto Rico, USA, UK.
About British Virgin Islands companies:
- It is possible to form a tax-exempt company in the British Virgin Islands under the International Business Company Act 1984.
- No minimum share capital. The share capital can be set in any currency and does not need to be paid up.
- The annual fees payable by the company do not change during its lifetime.
- Internationally recognised terminations or accepted abbreviations may be used, indicating limited liability. For example, Limited (Ltd.), Corporation (Corp.), Incorporated (Inc.), Societe Anonyme (S.a.), etc.
- A company registered here is not taxed, but cannot carry out activities or own property in the British Virgin Islands
- the company must have at least 1 shareholder and 1 director. The positions can be held by the same person and can be a company. The local business register does not contain this information. To register a company, only the Memorandum and Articles of Association and the registered office and the details of the registered agent are required.
- A registered office and registered agent must be in British Virgin Islands, we provide this
- Use of nominee directors and shareholders allowed
- No annual return required
- No need to submit invoices
- No foreign exchange controls
- British Virgin Islands laws guarantee full confidentiality
- A bearer share may be issued.
- You can have your own boat or aircraft on the island.
The British Virgin Islands is also on the OECD white list, most recently having concluded a double tax treaty with France.
An offshore company incorporated in the British Virgin Islands pays no tax, does not have to file an annual return and can carry out any activity with a few exceptions. To maintain it, it only pays annual fees, which generally consist of an annual licensing fee to the government, an annual registered agent fee, an annual registered office fee and other legal and administrative fees and certification fees. For an annual fee, there is the option to use a nominee director and nominee owner, which further increases discretion. The register of companies does not otherwise contain details of the owners and directors, only the address of the registered office and the details of the registered agent. Details of directors and shareholders are available at the registered office.
The price includes: the preparation and filing of company incorporation documents, government fees, notarisation and apostille, the annual fee for the registered office, the annual fee for the registered agent and all other costs necessary for the full operation of the company.
|1.year with start-up costs
|Maintenance costs per year for additional years
|Maintenance costs per year for additional years with anonymous services