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British Virgin Islands

Legal System Common law. The established system of national substantive and procedural law, formed under the influence of English common law, with additions from the local legislation.
The System of the Common State Registrar The company records (name, registration data) are kept by the public registry. Registration of data of shareholders and directors in the system is not required. The registering authority is BVI Registrar of Corporate Affairs.
Registration Procedure Documents are submitted to the Registrar on paper. The beneficial owner is not required to be present at the registration and filing procedures.
E-Registration Not available.
Pre-incorporation Procedures (statement of compliance, affidavit, etc) Not Applicable.
Company Name Prior approval of the name is required. The name may be in English or in a language that uses the Latin alphabet. Company name must end in Limited, Corporation, Incorporated, Sociedad Anónima, Société Anonyme, Ltd., Corp., Inc., S.A. The words "Bank", "Insurance Company", "Trust Company", "Royal" etc. may not be used.
Incorporation Documents Memorandum & Articles of Association. Original documents shall be prepared and kept in English.
Share Capital The minimum share capital is not specified. Share capital may be expressed in any currency. Often common: 50.000 USD, divided into 50.000 shares with par value of 1 USD each. Shares with no par value are allowed. Registered shares are issued. Bearer shares are allowed.
Beneficial Owner The beneficial owner can be any physical person. Information about the beneficiary is not reflected in the Registrar.
Shareholder At least one shareholder (physical person or legal entity). Transfer of shares into trust and use of nominee shareholder is allowed.
Director A minimum of one director. Any natural person or legal entity may be the director.
Secretary A secretary is not required.
Registered office A registered office in BVI is required.
Residency Is determined by the place of management of the company.
Income Tax 0%
Taxes on Dividends 0%
Taxes on Capital Gains 0%
Taxes on Interest/Royalties 0%
Tax Withheld at Source None.
VAT 0%
Specific National Taxes and Levies Levy of the Registrar – USD 350 per year.
Reporting No requirements for the preparation and filing of financial statements.
Audit Not required.
Cost Accounting Rules None.
Tax Administration No requirements.
Use of Tax Treaties Not Applicable.
Terms of Use of Tax Preferences Activities outside of the BVI.
Controlled Foreign Corporation in Jurisdictions with Low Tax (CFC) Income of controlled companies registered in low-tax jurisdictions are not included in returns, and the use of such companies is not a reason for refusal of the application of tax exemption.
Disclosure of Information Information about beneficiaries is revealed by the decision of a Court.
Language English.
Registration of Company From EUR 1 700.
Administration of Company From EUR 1 600 per year.
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