British Virgin Islands (BVI) is one of the oldest offshore jurisdictions in the world and probably the most popular among all offshore financial centres. British Virgin Islands is located in the Caribbean to the east of Puerto Rico comprising more than 50 islands and cays. The main islands are Tortola Virgin Gorda, Anegada and Jost Van Dyke.
British Virgin Islands corporations or BVI IBCs, incorporated under the International Business Companies Act No.8 of 1984 shows steady growth, bringing the number of companies registered under the act to over 450,000. BVI IBC legislation was discontinued and replaced by BVI Business Companies Act, 2004. As a result BVI IBCs were converted into regular BVI Business Companies.BVI offshore companies are exempted from all taxes and stamp duties.
The business setup documents of a BVI company do not carry the name or identity of any shareholder of director. The names or identities of these persons do not appear in any public record.
The time taken to complete the incorporation of a BVI Company is 2 to 3 working days. The shareholder(s) and director(s) of the company can be a natural person or a corporate body.
A minimum of one shareholder & Director is required. Nominee shareholders and directors are permitted.
Standard authorized share capital is US$50,000. Bearer shares are permitted. Bearer shares will be subject to diligence obligations&anti- money laundering.
