Investors who open an offshore company (IBC) in the British Virgin Islands
have a number of advantages, starting with a lack of corporate taxes and including easy and simple company management requirements.
The BVI offshore company may be used for a number of purposes and it is particularly opportune for foreign businesses. Investors may use a business structure incorporated in this location for asset protection and management as well as expanding their business.
Our BVI company formation agents
describe the characteristics of the International Business Company
in the Virgin Islands and point out the main steps for incorporation.
Reasons to open an IBC in the British Virgin Islands
Investors interested in British Virgin Islands company formation have a number of benefits when choosing this jurisdiction for offshore company formation. Among them we can include: no taxes on company profits, capital gains or inheritance, no value added tax and a convenient level of privacy for company directors.
Examples of common uses for a BVI offshore company include:
- asset and intellectual property rights holding;
- e-commerce activities;
- IT actives;
- consulting services and many others.
The particularities of the IBC in the Virgin Islands
The type of company used in the British Virgin Islands by foreign investors is the International Business Company. This legal entity is sometimes referred to simply as the Business Company or BC. It requires at least one director and one shareholder and they can be natural or legal individuals. There are no restrictions on the nationality of investors.
The following table includes the main traits of the BVI IBC which are also important advantages for all foreign investors interested in opening an offshore company in this jurisdiction.
This is permitted, there are no restrictions on the nationality of the company directors.
The BVI is exempt from the income tax in the Islands and from any taxes on dividends, interest or royalties.
The BVI has legal capacity and powers and what’s more, it also has a flexible structure.
No accounting obligations
There are no mandatory requirements for preparing or filing the annual financial accounts.
This type of company has no requirements for a paid-up capital and it can be paid partly or fully upon incorporation. Standard values for the authorized capital are used in practice. As far as the lack of accounting obligations are concerned, while there are no annual filings and reports, the company must keep a record of its transactions. One of our agents who specialize in BVI company set up can give you more details.
The public disclosure of the beneficiary owners/s of the company as well as that of the shareholders and directors is not mandatory – an important advantage for foreign investors who wish to maintain their anonymity while conducting business in the British Virgin Islands. Their identities will be known to the Registered Agent who will also update the information about the beneficial owners, as needed. However, investors can keep in mind that this information is not disclosed publicly at any time.
The British Virgin Islands offer a number of advantages to investors, from a beneficial BVI regime to political stability and an independent judicial system. For more information about BVI company incorporation
, we invite you to contact us
. One of our agents will be able to assist you with detailed answers to your questions.