The British Virgin Islands is a chain of 50 islands comprising 59 square miles. Approximately 15 of these islands are inhabited, of which the largest is Tortola with 21 square miles and a population of 19,000. The British Virgin Islands is a self-governing, politically stable British Crown Colony with a self-legislative assembly and has become an important centre for offshore business activities.
The islands boast two thriving economies, tourism and offshore investment. Major world banks and state of the art communications make the B. V. I. an ideal offshore financial centre. The U. S. Dollar is the legal tender in the B. V. I. and its official language is English.
Offshore companies / International Business Companies (IBC’s) There are in excess of 250,000 Offshore Companies currently registered in the islands. Making it one of the fastest growing offshore investments centres in the world.
Advantages of British Virgin Islands IBCs
International Business Companies are designed to facilitate business using various tax and administrative benefits with reasonable costs and maintenance fees. Total secrecy and anonymity is maintained, and there is no requirement to disclose the beneficial owners of the Company. There is no requirement to file annual returns or financial statements, or to hold annual general meetings of the shareholders or directors. These offshore companies or IBC's are exempt from all local tax and stamp duty. Maximum security of assets includes the ability to transfer domicile.
There is no requirement for an IBC to file accounting or director information with the Registrar of Companies.
IBC's can re-acquire and re-issue shares for a consideration other than cash denominated in any currency.
BVI Offshore Company Applications
Applications include investment, property holding, financial management, general trading and copyrighting or licensing.
Requirements For BVI Offshore Companies
Formation: Only one subscriber (the Registered Agent) may incorporate an IBC.
Proposed Name: Names ending with the words Limited, Corporation, Incorporated, Société Anonyme, Sociedad Anónima, or the abbreviations, Ltd. , Corp. , or S. A. must be used. The words “Trust Company", “Bank", or any words conveying similar meanings cannot be used, unless the company concerned obtains the appropriate license in the B. V. I.
There are a number of existing offshore companies (both aged and contemporary) for sale. These companies have never traded or engaged in any transaction whatsoever. One or more Directors who may be corporate entities or natural persons, of any nationality and residents of any country. Our firm can provide nominee Director(s) if desired. Directors may hold meetings in any country and they may attend such meetings by proxy. Neither the Directors nor the officers need to be shareholders. Shareholders may hold their meetings in any country and they may attend such meetings by proxy.
The Registered Office for the BVI Offshore Company should be in the British Virgin Islands. The offshore company is exempt from taxation on any business activity or transaction carried out outside the British Virgin Islands.