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British Virgin Islands

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There are currently over 1 million IBCs registered in the British Virgin Islands. The legal system is based on English law. The British Virgin Islands ranks among the most popular tax havens thanks to its flexible legislation, low tax burden and the possibility to register trusts, banks, insurance companies and funds in addition to the most used IBC company. Companies such as DHL, FedEx are represented here.

Why is the British Virgin Islands a popular offshore destination for company incorporation?

The English legal system, which means long-term political and economic stability and a high degree of credibility. 0% tax! (fee to government is $350). What does that mean for you? It is simple. 0% taxation (but it is important to know that your business must be carried out outside the British Virgin Islands (BPO).

The long history and economic stability make BPO the most popular offshore jurisdiction for foreign companies, which will maintain a good reputation among partners and other companies. Thanks to the International Business Companies Act, which covers international commercial entities, BPOs became the model for future offshore jurisdiction legislation in 1984.

Companies are not subject to audit, do not have to file tax returns and do not even have to keep accounts and submit financial statements. This means minimal paperwork, less work and more savings for you!

The register of companies is partly public, you can read from it whether the company exists, its registered office and registered agent. The names of shareholders and directors are not publicly available.

There are currently over a million foreign entities registered in the British Virgin Islands. You too can be one of them. Register your British Virgin Islands company now.

Offshore BVI – Utilization

  • Offshore money and investment management
  • Establishment of investment funds
  • Production and transportation
  • Trading, marketing and distribution
  • Trading in Forex and Stocks
  • E-commerce, Internet trading
  • Provision of professional services
  • Employment for overseas employees
  • Online casino and other gaming systems (license required)
  • Suitable for boat ownership
  • As well as for the ownership of real estate, movable property and intellectual property

Basic information

  • The share capital does not have to be repaid and the company register is not accessible to the public
  • The company has the form of a joint-stock company with registered shares in the name or in the owner
  • The company must maintain its headquarters on the islands and have its registration agent there
  • BVI IBCs are not allowed to do business with BVI residents
  • The IBC may not own real estate on the islands except for its own headquarters
  • An IBC may not conduct business on the islands in an area for which the government grants special licenses (banks, insurance companies, trusts)
  • An IBC may not provide corporate management, registered office or registered agent services to other BVI-based IBCs in the islands
  • Upon fulfillment of the above conditions, a BVI company is exempt from tax on income, activities carried out outside the islands, interest, annuities, royalties and capital gains from securities.
  • They are not subject to any local tax obligations, including inheritance tax, gift tax, real estate tax, stamp duty, customs, you do not submit annual reports, financial statements, there is no mandatory company audit
  • IBC only pays an annual flat fee
  • No reports or tax returns are required by the authorities
  • Shareholders and executives can meet in any country, or be represented by a proxy
  • Min. flat rate to local government $350
  • Establishment time: approx. 5 working days
  • Minimum number of shareholders: 1, FO or company
  • Bearer shares: permitted but not recommended, they are held in a depository
  • Local headquarters is required
  • Minimum number of directors: 1, can be FO or company, FO need not be resident in the country
  • Accounting is not required
  • Audit is not required
  • Anonymity: Information about directors and shareholders is not published, i.e. not available to the public

NOTICE

The BVI is an overseas territory of Great Britain, and the European Commission is very keen to ensure that the entities in the BVI are subject to the directive of the European Commission – the so-called EU Tax Saving Directive. The offshore sector in the BVI would thus be practically uninteresting for European clients in view of the emergence of a notification obligation in the BVI regarding the assets of natural persons located here in the future. For example, the Slovak Republic with reference to the cited one
directive of the European Commission has already concluded an interstate agreement on the exchange of information with the BVI. Given the legal uncertainty, we recommend consistently using nominee services or establishing a company in another jurisdiction.

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