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British Virgin Islands (BVI): to register a company remotely

British Virgin Islands (BVI) is an archipelago of islands, located on the border of the Caribbean and Atlantic Ocean. The basis of the economy is: an industry, an agriculture and a tourism, the financial sector is also important. Registering a company in the BVI offers many advantages and incentives for foreign entrepreneurs.

BVIs are popular among entrepreneurs from all over the world due to these advantages:
  • Complied with a high privacy policy, regulated by the law.
  • There is a principle of territorial taxation.
  • An economic and political stability.
  • Favorable conditions for doing business.
  • A country with a high standard of living.
  • A state has signed a document on the avoidance of double taxation with countries: Japan and Switzerland.
  • No capital requirements and exchange control.
If you decide to register a company in the British Virgin Islands, then this can be done in such legal form as: IBC.

Before setting up an IBC in the BVI, we recommend you to familiarize yourself with all features of this legal form:

  • At the end of the name one of these words must be presented: “Limited”, “Incorporated” or “Corporation”.
  • An authorized capital is fixed by a founder of an enterprise, averages around $50,000.
  • There are opportunities to use nominal services, to issue bearer shares.
  • It should be noted, that all companies, that issue bearer shares, must transfer them to the trust management of a specialized company, that has a license.
Opening a company in the BVI is accompanied by a fulfillment of requirements of the Regulator:
  • to register a unique name and an office space (IBC companies cannot own real estate in BVI);
  • an annual state renewal fee is $350 (if the authorized capital is up to $50,000), $1,100 (if the authorized capital is $50,000 or more);
  • to obtain a license in the BVI, if an enterprise is engaged in banking, insurance or trust activities;
  • to prepare a list of standard documents, notarized and translated into the appropriate language:
  • documents, confirming the identity of each shareholder/director of the enterprise (copies);
  • an application for registration, which contains the information about activities of the company and its name.
  • For entrepreneurs, who want to register an IBC in the BVI, an individual presence is not required.
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After registering an IBC in the British Virgin Islands, a package of documents will be provided to a legal entity:
  • a certificate of incorporation;
  • a decision on the appointment of leading persons;
  • registries for shareholders and beneficiaries;
  • a Company's Charter and constituent documentation (MOA);
  • an order for the issue of shares;
  • a stock license.
Establishing an IBC in the BVI provides for such restrictions:
  • It is forbidden to trade, to have real estate in the British Virgin Islands.
  • It is forbidden to conduct any financial activity, that involves a relationship with a banking or insurance industry.

If you violate the laws of the BVI, the company will be fined $10,000.

A taxation and reporting
  • Foreign investors, who do not operate in the country, are exempted from a corporate tax, a VAT, etc.
  • Companies are not required to conduct an audit, maintain/file financial statements.
  • Financial statements can be stored in any country.
Registration period

Registering a company in the BVI takes from 4 weeks.

A preparation and a delivery of documents takes about 10 days.

Specialists of IQD Consulting will provide you with professional advice on registering an enterprise in the BVI.

  • The information outlined in the article is actual at the time of its publication.
  • Please refer to our specialists for checking possible solutions for your business.
  • Still have any questions?

    Fill out the form or contact us as you find convenient. Our experts will help you resolve the issue.

Are you interested in qualified advice from our specialists on this matter?

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