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Juristiction In The BVI
| Location | 6th Floor, Waters Edge, Building 1, Wickham’s Cay 2, Road Town, Tortola, BVI. |
| Legal system | English common law |
| Language(s) | English |
| Exchange controls | None |
Company acquisition time
| Shelf companies | Available on request |
| New formations | 1–2 days |
Typical incorporation costs for International Business Companies
| Registration/statutory fees | US$350.00 – US$1,100.00
(dependent on the number of shares the company is authorized to issue) |
| Typical professional costs for formation | Ranges between US$850 to US$1,000 (for a standard company) |
Annual charges for International Business Companies
| Statutory fees | US$350.00 – US$1,100.00 (on the number of shares the company is authorized to issue) |
| Registered agent fees | US$850.00 – US$1,400 (but depends on time spent on administration) |
Shareholders
| Minimum number | 1 |
| Residency requirements | No requirement for shareholder to be resident in the BVI |
Share capital
| Minimum authorised | No minimum requirement |
| Minimum issued | 1 share |
Beneficial ownership
| Disclosure | Not required to be disclosed to the Government, but must be disclosed to the registered office and other service providers as part of anti-money laundering and “know your client” requirements |
Directors
| Minimum number | 1 (one or more Directors are appointed for practical purposes only as there is no legal requirement for Directors to be appointed) |
| Residency requirements | No requirement for directors to be resident in the BVI |
| Corporate directors | Yes, corporate directors are permitted |
Local presence requirements
| Directors | No resident director requirements. Local directors may be provided by agreement with service providers |
| Annual general meeting | Not required for IBC companies. |
| Audit requirements | No requirement for an audit. |
| Annual accounts | A company shall keep records that (a) are sufficient to show and explain the company’s transactions; and (b) will, at any time, enable the financial position of company to be determined with reasonable accuracy. |
| Migration possible? | Yes — companies can migrate to and from the BVI |
Tax rates
| Offshore companies | None |