The British Virgin Islands are a British Dependency situated in the Caribbean approximately 50 miles from Puerto Rico.
Being the most popular offshore jurisdiction means that Government encourages business on the Islands and promises to remain politically and economically stable.
Since 1984 the International Business Companies Act, now replaced by the BVI Business Companies Act 2004, has ensured that the BVI remains the most popular jurisdiction.
| General |
|---|
| Type of entity | IBC |
| Type of law | Common |
| Minimum government fee | US$350 |
| Corporate taxation | Nil |
| Double tax treaties | None |
| Name requirements | Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima (or abbreviations) |
| Name restrictions | Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal |
| Change in Domicile permitted | Yes |
| Share in capital or equivalent |
|---|
| Standard currency of share capital | US$ |
| Permitted currencies of capital | Any |
| Minimum paid up share capital | US$1 |
| Usual authorised share capital | US$50,000 |
| Directors or Managers |
|---|
| Minimum number of directors/managers | One |
| Local directors required | No |
| Government register/public record of directors/managers | No |
| Location of directors/managers meetings | Anywhere |
| Members |
|---|
| Minimum number of shareholders/members | One |
| Government register/public record of shareholders/members | Optional |
| Location of members meetings | Anywhere |
| Company Secretary |
|---|
| Company secretary required | Optional |
| Company secretary, local or qualified | No |