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BRITISH VIRGIN ISLANDS (B.V.I.)
- An IBC is exempt from BVI tax or stamp duty on documents in
respect of transactions carried out by it or relating to its shares or debt obligations.
- No public record is maintained as to the identity of
Shareholders or Directors. The original or a copy of the Shareholders’ register must
be kept in the registered office. Nominee Shareholders may be used.
- Public records of IBCs consist only of the Certificate of
Incorporation , the Memorandum and Articles of Association, the name and address of the
registered agent and the record of payments of the annual fees.
- An IBC may have a single Shareholder and it may also have a
single Director, both of which may be corporate and non-resident.
- An IBC may issue registered or bearer shares. Shares may be
issued with or without par value and in any currency.
- No annual Shareholders meetings or annual returns or audits
are required.
- The members may by a simple majority amend the Memorandum
and Articles of Association, increase the authorised capital, change the name, go into
voluntary liquidation, etc. The power to amend the Memorandum and Articles of Association
may be given to the Directors.
- Good Standing Certificates are available from the Registrar
of Companies for a prescribed fee.
- Previously incorporated "Shelf Companies with full
documentation and seals are available. New incorporations take 24 hours with documentation
available from the Registrar after 72 hours.
- The Company may not:
- carry on business in the BVI
- own an interest in real estate in the BVI
- carry on banking or trust business
- carry on business as an insurance or a reinsurance Company,
insurance agent or insurance broker
- carry on the business of Company management
- carry on the business of providing the registered office or
the registered agent of BVI incorporated companies.
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