British Virgin Islands Company Formation

The name of an International Business Company in BVI should end with the suffixes such as Limited, Corporation, Incorporated, Société Anonyme, Sociedad Anónima or their relevant abbreviations.

Any name that is identical or similar to an existing company, or any name that suggests the patronage of the Royal Family or the Government of the British Virgin Islands, is restricted.

There must be at least one director to incorporate in BVI. The director can be sole shareholder and ultimate beneficial owner (UBO).

The sole member of a BVI company can be a natural person or a corporate body. Especially, a corporate can be the UBO only if it is listed public.

Bank, building society, savings, loans, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, Chamber of Commerce, university, municipal or their foreign language equivalents.

Our incorporation fee in BVI includes essential items for registration:

• Company name search & Documents preparation;
• Drafting of the Company Memorandum and Article of Association (M&A);
• Incorporation Process;
• 1 year Government fee;
• 1 year Registered Agent Service with local management and reports;
• 1 year Local Office Registered Address service.

There are several benefits to incorporating a BVI company. First, the jurisdiction is well-regulated and has a strong legal framework in place. This provides certainty and stability for businesses operating in the BVI. Second, the BVI offers a wide range of tax incentives, which can help businesses reduce their overall tax burden. Finally, the BVI has a highly skilled and educated workforce, which can provide businesses with the talent they need to succeed.

BVI company setup costs typically include government registration fees and registered agent fees.

The government registration fees for a BVI (British Virgin Islands) company varies depending on the authorized share capital of the company, which is as follows:

For BVI company authorized to issue no more than 50,000 shares, the incorporation fee is US$550.

For BVI company BCs authorized to issue more than 50,000 shares, the incorporation fee is US$1,350.

The fee for a registered agent's service will depend on the specific service provider and package, so don't hesitate to get in touch for more detailed information.

In the British Virgin Islands, several types of limited companies can be formed under the BVI Business Companies Act, each tailored to specific business needs.

The primary types of limited companies include:

• Company Limited by Shares: The most common type of BVI limited company. Members’ liability is limited to the unpaid value of their shares. This structure is suitable for most commercial and investment purposes.
• Company Limited by Guarantee: Commonly used for non-profit organizations. Members agree to contribute a specified amount in the event the company is wound up.

Other specialized company types permitted under the BVI framework include:

• Unlimited Company
• Restricted Purposes Company
• Segregated Portfolio Company (SPC)

To register a BVI offshore company, a standard set of due diligence documents must be submitted for all individuals and corporate entities involved. Preparing these in advance ensures a faster and smoother incorporation process.

1. For each individual director and shareholder:

• Certified copy of a valid passport or national ID
• Proof of residential address (e.g., utility bill or bank statement issued within the last 3 months)

2. For corporate shareholders or directors (if applicable):

• Certificate of Incorporation and other relevant corporate documents
• Due diligence documents (passport and address proof) for any ultimate beneficial owner holding 10% or more of shares

3. Additional supporting documents:

• Bank reference letter
• Professional reference letter (e.g., from a lawyer or accountant)
• Curriculum Vitae (CV) or business profile for principal individuals

The BVI Financial Services Commission (FSC) is the official government authority responsible for company registration in the British Virgin Islands.

The FSC maintains the official BVI company register and regulates all financial services in the territory.

However, the FSC does not accept direct applications from individuals or businesses. All company formation applications must be submitted through a licensed Registered Agent authorized by the FSC.