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The British Virgin Islands or BVI are a British Overseas Territory in the Caribbean, to the east of Puerto Rico and north-west of Anguilla.

BVI consist of 4 main islands along with many more other smaller islands and cays. However, only about 16 of the islands are inhabited.

The capital, Road Town, is on Tortola, the largest island in BVI.

Since 1984, BVI is famed as the world’s leading offshore company incorporation center with more than 1 million companies operating in this jurisdiction.

Over the years, millions of business owners attracted to set up companies in BVI for its economic prosperity, progressive regulatory regime, business friendly environment, tax friendly policies and political stability

A BVI company is a flexible form of legal entity that has the liberty of carrying out a wide range of business activities.

There is no residence requirement for the directors and shareholders.

Only one director and one shareholder are required and they can be the same person or corporate body.

For business owners who need privacy, one big advantage of BVI company is that the information about directors, shareholders and beneficial owners are not available for the public.

Business founder will also like to know that there is no authorized capital requirement for BVI company and the paid-up capital can be as low as 1 USD.

There is no requirement to file annual financial statements and the accounting books could be kept in any part of the world.

The resolutions of the company may be passed by electronic means or by circulating written resolutions for signing, making BVI companies very much easier to maintain compare to companies in many other jurisdictions.

BVI offers freedom of capital movement and there is also no exchange control in BVI

Business owner will be happy to know that a BVI International Business Company is exempted from all local taxes and stamp duty.

There are no capital gains tax, no inheritance tax, no sales tax and no VAT.

One last point business operator will be interested to know is that, unlike some jurisdictions, BVI Corporate documents are widely recognized by international banks and financial institutions.

BVI is also whitelisted by The Financial Action Task Force (FATF) and The Organization for Economic Co-operation and Development (OECD), making BVI company very much easier when come to opening of corporate bank account.

I hope you like my sharing today. If you are planning to set up a BVI company, please feel free to contact me for more details.

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***This video cannot and does not contain legal advice. The information is provided for general informational and educational purposes only and is not a substitute for professional advice. Accordingly, before taking any actions based upon such information, we encourage you to consult with the appropriate professionals. We do not provide any kind of legal advice. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED ON THIS SITE IS SOLELY AT YOUR OWN RISK.

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