Why the British Virgin Islands?
The British Virgin Islands is an archipelago of over 40 islands, 16 of which are inhabited. Discovered by Columbus, who is said to have been so impressed by the large number that he named them “Las Virgenes” in honour of St. Ursula and her 11,000 attendant virgins, they lie to the northwest of the United States Virgin Islands.
The neighbour with the largest land area is Puerto Rico, 96 km to the west. Except for Anegada, which is a flat reef surrounded by an island of coral limestone, the Islands are hilly and enjoy a subtropical climate. Their greatest tourist attraction is their superb beaches.
BVI BC are very popular and widely used offshore companies because of their administrative ease, flexibility, taxation-exempt status and the fact that they are widely accepted and understood by the international financial community.
Key benefits.
BVI BCs may not own real property in the BVI, other than the lease of an office, and may not carry on banking or trust business (unless licensed under the Banks and Trust Companies Act) or insurance or re-insurance business (unless licensed in the BVI to carry on that business). Otherwise, BVI BCs may engage in any activity that is not illegal under the laws of the BVI subject to any restrictions in their Memorandum of Association.
Well regulated and sophisticated jurisdiction
- Excellent infrastructure, communications and banking facilities
- Modern corporate legislation
- The BVI Registry offers total confidentiality and does not permit access to company information held on file via company searches
- The country has attracted more than 440,000 offshore entities, many aimed at international commerce.
- English is the official language
It takes two days to establish a new company
- No capital gains tax, inheritance taxes or death duties
- No dividends, interest or royalties are required to be paid
- One director and shareholder is required
- The directors and shareholders can be any nationality and can be non-resident
- No annual meeting requirements
- Board meetings can be held anywhere in the world
- Directors can be individual or corporate entities
- No foreign exchange controls
Services offered in the British Virgin Islands.
- Entity incorporation and management
- Day-to-day company administration including opening and operating bank accounts, issuing invoices, accounting and bookkeeping services
- Company secretarial services
- Provision of professional directors and nominee shareholders
- Registered office and virtual office services
- Accounting services
- Registered agent services
- Payroll services
- Process agent services
