Important note: if requested, Shanda Consult and its local cooperation partners are able to fulfil all prerequisites for BVI companies that are listed in the following text and can offer the necessary services required, including bookkeeping and similar services.
Independent legal system based on British Common Law.
Tourism comprises the main part of the economy. Apart from this the incorporation and administration of international business companies constitute an important income factor.
USD (US Dollar)
English is the official language
Information on Companies
Types of company
Companies are being differentiated between resident tax payers and non-resident tax payers. The legal form of a Limited is commonly used. Different endings can be used (Ltd., Limited, Corporation, etc.)
Company Law of the BVI
Minimum capital requirement
Paid in minimum capital: USD 1.00.
No minimum authorised capital, usual nominal capital is USD 50.000.
No obligation to pay in.
International business companies are not permitted to pursue banking business nor insurance business or financial services, as long as no specific permission has been given. IBCs are not allowed to pursue business in the British Virgin Islands.
None (for Offshore Companies)
Double Taxation Treaty
There are several double taxation treaties, such as one with Switzerland or with Japan. These however, do not apply for IBCs.
Annual tax filing
Annual financial statement
Annual license fee
Annually USD 350,00 for companies with authorised capital of up to 50.000,00. Companies with higher capital pay USD 1.000 annually.
Registered business address
Registered business address must be in the British Virgin Islands. An agent for the incorporation must be appointed.
Minimum one. No prescriptions regarding nationality and residence, natural or legal person.
Disclosure of the ultimate beneficial owner
Yes, must be documented.
Directors publicly known
Shareholders publicly known
Control of foreign currency
Language of corporate documents
Duration of incorporation
2-3 working days