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Features of a BVI International Business Company:

Summarized Features

  • Only one director and shareholder are required - the sole director can also act as the sole shareholder
  • Directors and shareholders can be either corporations or individuals
  • Directors, officers and shareholders details remain confidential
  • No limitations as to nationality or residence of company directors or shareholders
  • Full exemption (In BVI) from taxation on any business activity or transaction carried out outside BVI. (Please consult your own local tax agent if they are subject to local tax)
  • All dividends, interest, royalties, rents and compensations are exempt from the payments of income tax
  • Tax efficiency - exemption from capital gains tax, inheritance tax and death duties
  • No foreign exchange control
  • No requirements for preparing and submitting accounts, filing annual returns
  • Fast incorporation procedures and simple ongoing administration
  • Minimum ongoing compliance requirements
  • Engagement in any lawful business in any country

Public Records

The names of directors and shareholders do not appear on public record. The only documents that need to be filed at the Companies Registry are the incorporation documents, which include details of the registered office and registered agent. New companies in the BVI have to disclose the business activities of the company. An IBC company is not required to file accounts with the Registrar of Corporate Affairs. The documents which are filed and available for public inspection are the memorandum and articles of association and the certificate of incorporation.

Company Records and Annual Financial Statements

It is mandatory for a Register of Directors to be kept at the BVI registered office. There is no need to file the Register of Directors with the Registrar, and information about the directors will remain confidential to third parties.

Disclosure of Beneficial Ownership to Authorities

Disclosure of the beneficial owner(s) is not required. The share register may be inspected only by a shareholder.

Filing Requirements

Only the Memorandum and Articles are required for public records. The Registers of Directors, Shareholders, and Mortgages and Charges may optionally be filed.

Financial Statement

There is no requirement to file audited accounts with the authorities, a company is required to keep financial records which reflect the financial position of a company.

Restrictions on Trading

An IBC cannot trade within the British Virgin Islands or own property there.

Type of company for International trade and investment

An IBC is not liable to BVI taxes and pays only an annual license fee. International Business Companies are by far the most popular and widely used type of company.

BVI Company Taxation

Taxation in the British Virgin Islands is mostly notable for what is not subject to taxation.

The British Virgin Islands has:

  • No Corporation tax
  • No Capital gains tax
  • No sales tax or value added tax
  • No inheritance tax or estate duty
  • There is income tax in the British Virgin Islands, the rate of taxation has been set at zero

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