British Virgin Islands company

Located approximately sixty miles off the eastern coast of Puerto Rico in the Atlantic Ocean, the British Virgin Islands is one of the main offshore financial centers in the world. The British Virgin Islands (BVI) has a great economy, stable political situation, lenient taxation, and are primarily English-speaking. All of these factors make it a popular choice for offshore companiess. The British Virgin Islands also provides unique tax benefits for IBCs, which allow for local trade and residential businesses. To date, over 50,000 BVI companies have been created.

Creating an Offshore Company in the British Virgin Islands

Creating an offshore company and ensuring compliance can be confusing and hectic. At Mass Accounting, we work with a team of local agents in the British Virgin Islands as well as a number of banks, such as HSBC and the FBME bank in Cyprus. This allows us to keep up to date with legal requirements and documentation for creating and maintaining legal and compliant offshore trusts and companies so you don't have to.

Want to take advantage of the British Virgin Islands' great tax rates? Contact us today to get started on forming your own offshore company! Or, check out some of the other locations where we offer offshore company services.

Whether you're looking to register a business, establish a trust or bank account, or need long-term compliance assistance, we're here to help Our goal is to create comprehensive, all-in-one services for offshore company formation and management that makes the process as simple and easy as possible. To do so, we offer:

Tax benefits of the British Virgin Islands

Under the International Business Companies Act of 1984, international business companies (IBC) can be formed in the British Virgin Islands (BVI) to seek exemption from income tax. British Virgin Island (BVI) business companies are also exempt from taxes on dividends, interest, royalties, compensations, or other amounts paid. Nor do BVI IBCs pay capital gains, estate, inheritance, succession, or gift taxes. Stamp duties related to assets or activities are also waived, except for those related to land-ownership transactions.

Since 2005, the British Virgin Islands Business Companies Act has considered both domestic and international companies the same (as a BVI business company), making the British Virgin Islands one of the few offshore locations that provides the same benefits for trade done within the Island as that done overseas.

The added benefit of BVIs is that they accommodate both businesses with a physical presence in the islands and those that only conduct business from abroad. BVI companies only require one shareholder and do not need resident secretaries or local directors, allowing businesses to conduct operations from anywhere in the world. Bank accounts may also be held from anywhere across the globe.

Anonymity and Confidentiality

BVI offshore companies are not required to disclose the names of directors or beneficial owners, allowing for better privacy and anonymity. However, some ‘custodians' such as financial institutions require beneficial owner information in the case of bearer shares, although this information has a confidentiality guarantee. There is also no requirement to prepare and file annual accounts, however, companies must keep financial records that reflect the financial position of the company.

Shares

There is no minimum capital requirement. However, the standard authorized share capital is US$ 50,000 which requires a US$350 annual license fee or more depending on the total amount. The minimum issued capital may be one share with or without par value. Registered shares, bearer shares (which allow for physical transfer that negates the need for providing shareholder or owner information), shares of no par value, preference shares, redeemable shares, and shares with or without voting rights are permitted.