BVI OFFSHORE COMPANY FORMATION
British Dependent Territory in the Caribbean comprising 36 islands. First inhabited by Arawak and later by Carib Indians, the Virgin Islands were settled by the Dutch in 1648 and then annexed by the English in 1672. The islands were part of the British colony of the Leeward Islands from 1872-1960; they were granted autonomy in 1967. The economy is closely tied to the larger and more populous US Virgin Islands to the west; the US dollar is the legal currency.
Country: British Virgin Islands
Population: 22,000
Capital: Road Town
Currency: US dollar
Language: English speaking
| Services Included | Year 1 | Year 2 onwards |
|---|---|---|
| Incorporation | N/A | |
| Corporate Structuring | N/A | |
| Government Fee | US $450 | |
| Corporate Domicile | £585 | |
| Accounting Data Address | Yes | Optional Extra |
| Director and Nominee Service | Optional Extra | Optional Extra |
Estimated renewal costs in year two: £1,550.00
Please note that the amounts showing in US$ are local costs and are passed on at cost – no profit element is added by HRM to cost prices in these areas.
Details of BVI Business Company – BC:
- Set up under The BVI Business Companies Act (No. 16 of 2004).
- Can have one or more subscribers and thereafter one or more shareholders.
- Can have one or more directors.
- Directors can be corporate or individual, and need not be local residents, subject to business activities.
- Meetings of directors or shareholders may be held in any country, subject to business activities.
- No obligation to file names of directors in any public register therefore, no public disclosure of directors or shareholders.
- No requirement for audit, subject to business activities.
- No requirement to file annual returns, subject to business activities.
- Accounts are not required to be filed with government authorities but must be prepared and maintained privately, subject to business activities.
- Annual Government licence fee of $350 if the total number of issued shares is 50,000 or less.
- Total exemption from all forms of local taxation including stamp duty, subject to business activities.
Banks
A member of the banking team will be able to advise on the most suitable offshore bank account.
Please note that information given on this page is subject to change at any time without notice as a consequence of changes made in local legislation.
All prices shown above are exclusive of VAT
HRM and its affiliates do not provide tax, legal or accounting advice. Material on this page has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.