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Frequently Asked Questions

Corporate taxation in BVI

What types of corporate taxation are levied on a BVI business company?

A business company is exempted from all types of local tax for income-generating outside of the BVI.

Allowed activities of a BVI BC

What are restricted activities of a BVI BC?

Unlike other offshore jurisdictions, a business company incorporated in BVI are allowed to undertake businesses within the BVI and hold interests or own properties in the territory. Some businesses are required to be licensed by the Financial Services Commission like banking, insurance, trust, fund management, investment business…

What types of entity can a business company can be incorporated under the current law in BVI?

A company can be formed under the following types:

  • A company limited by shares
  • A company limited by guarantee with or without shares
  • An unlimited company with or without shares

Company directors/shareholders/beneficial owners

What is the minimum number of directors/shareholders for a business company?

A BVI business company is required to have one director/shareholder at minimum. Individual and body corporate are accepted. No specific requirements on locality or qualification of directors/shareholders exist.

Publicity of information

The registers of company directors/shareholders or beneficial owners should be kept at the address of the registered agent. The company has an option to file the information with the Registrar for registration. In addition, such registers are not disclosed to the public.

Share capital

Are bearer shares allowed?

BVI is one of a few countries which allow issuance of bearer shares. However, the bearer shares have to be kept with the authorized custodian, and information related to the owners of bearer shares has to be maintained.

Minimum registered capital?

There is no minimum registered capital. The usual authorized is US$50,000.

Annual maintenance conditions

What have to be done annually to comply with local laws regarding maintaining a BVI business company?

The business owner only needs to maintain:

  • One director/shareholder;
  • A BVI registered agent and registered address.

There is no need for annual return or tax filing, annual general meeting or audited reports.