Company Administration Guidelines
- 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.
- 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.
- 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.
- 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.
The incorporation of a BVI company is very quick and will take approximately two days.
Have High Recent GDP Rates Lulled Cyprus Into a False Sense of Security?
The Cyprus government, for the last few years have been harping tales of steady growth and booming tourism levels; referring to the relatively high rate of growth of real GDP can be attributed to a number of factors: Declining official unemployment rates; excesses in the government accounts and the raising of large fund backing in international financial markets.