Company Administration Guidelines

Share Capital:

  • There is no minimum capital requirement for a BVI IBC.
  • An unlimited number of shares is permitted. Bearer shares are permitted but are subject. to a custodian service and also a higher government license fee.
  • Can be formed with one shareholder who can also act as the director.
  • The use of nominee shareholders is permitted.

Directors:

  • A minimum of one director is required, can also act as a shareholder if required.
  • Directors can be either individuals or corporate entities.
  • Directors must now file all particulars online as per Section 118B of the BVI Business Companies Act.

Restrictions on Name & Activity:

  • The company name must not be identical or similar to any existing name.

Local Requirements:

  • A registered office in the BVI must be maintained. The following documents are required to be kept at the registered office; Memorandum and Articles of Association and any amendments, Copy of Register of Members or Share Register, Copy of Registered Directors, Impression of the Corporate Seal, Register of Changes. A company is considered resident if it has a registered office in the BVI.
  • There is no requirement to hold annual meetings. If required meetings can be held anywhere in the world.
  • A company secretary is not a mandatory requirement for incorporating a BVI IBC.

Confidentiality:

  • The Register of Members and resolutions by the company do not appear on public record.
  • Details of the company’s beneficial owners, directors and shareholders do not have to be made publicly available.
  • The only documents held on public record are the Memorandum and Articles of Association which do not contain any details of beneficial directors or shareholders.

Timescale:

The incorporation of a BVI company is very quick and will take approximately two days.

Take the next step, we are here to help.

Register a BVI (British Virgin Islands) company.
Open a BVI (British Virgin Islands) bank account.

  Resources:

Have the Many Benefits of Offshore Banking Left the Industry Open to Abuse?

Have the Many Benefits of Offshore Banking Left the Industry Open to Abuse?

The overseas banking industry is a billion-dollar business. Its no surprise that during the last decade, criminals have discovered ways to circumvent and exploit the system, ultimately giving the offshore world a bad reputation. This article looks at the many benefits associated with overseas banking; and how this has left the industry open to abuse.

An Overview of Offshore Banking & its Benefits

An Overview of Offshore Banking & its Benefits

Generally speaking, overseas or offshore banking has garnered a bad reputation in the financial world. Usually the term is synonymously used with embezzlement, money laundering and tax evasion; evoking reminiscent scandals such as the Panama Papers.

Crypto-currency Start-ups Buying False Reviews is Destablising Reputable Investment Sources

Crypto-currency Start-ups Buying False Reviews is Destablising Reputable Investment Sources

When cryptocurrency issuers want reviews for their coins, reports have surfaced that several prominent companies have been found offering money to advertisers in exchange for positive appraisals.

Is the Era of Shell Companies Coming to an End?

Is the Era of Shell Companies Coming to an End?

The Honourable Dr. Orlando Smith, Premier and Minister of Finance has announced that the BVI Government will take all reasonable steps to address European Union concerns about economic substance and a new Legislation is intended to be in force by the end of December 2018 in order to avoid the European Union Black List of Tax Heaven Jurisdictions.

Regulatory Update: BVI Economic Substance Act 2018

Regulatory Update: BVI Economic Substance Act 2018

In 2016, the Council of the EU pledged to start advocating tax transparency and fairer taxation within Europe and consequently worldwide. After the EUs Code of Conduct Group (COCG) on taxation investigated BVI practices, they found a number of concerns regarding legitimate substance requirements for companies and limited partnerships doing business in and through BVI.

Information on the Payment of Cyprus Taxes for Pensions & Rental Income

Information on the Payment of Cyprus Taxes for Pensions & Rental Income

Cyprus employees who are considered to have tax resident status, pay tax on their global income. Employees not considered to be tax resident are only charged for specific types of income that are originating from Cyprus-based sources.

Cyprus Regulatory Update: Shell Company Definition & Exceptions

Cyprus Regulatory Update: Shell Company Definition & Exceptions

The Central Bank of Cyprus has released new guidance for all credit institutions on the island, refining the definition for shell companies and subsidiary entities; coming into effect from November 2018, which are detailed as follows:

Singapore Variable Capital Company VCC: New Features & Benefits

Singapore Variable Capital Company VCC: New Features & Benefits

The introduction of the VCC is a significant positive for the Singapore funds industry. Its aim is to retain Singapore as an attractive business destination and to keep investors wishing to domicile locally.