British Virgin Islands
NEWS
FACT FILE
Location Eastern Caribbean.
Time Zone Greenwich Mean Time -4.
Population App. 28,280.
Capital Road Town.
Airport Beef Island.
Language English.
Currency US$.
Dialing Code +1 284.
Centre's Expertise Renowned as a corporate domicile for business companies, trust settlements, captive insurance, mutual funds and shipping registration.
Political System Democratic 13-member Ministerial Government.
Legal System System based on English common law. UK Privy Council is final court of appeal.
Personal Income Tax 0%.
Corporate Income Tax No income (profit) tax. Payroll tax-resident companies: 10% or 14% (employees: 8% fixed, employers: 2% or 6% depending on business size). Non-resident companies: same as resident, on BVI -based employees only.
Exchange Restrictions None.
Tax Treaties For full details, please go to www.ifcreview.com/TIEA
Permitted Currencies All currencies permitted. Official currency: US$.
Minimum Authorised Capital One share.
Minimum Share Issues One share.
Shelf Companies BVI business companies, limited partnerships, segregated portfolio companies, restricted purpose companies, companies limited by shares and/or guarantee.
Incorporation Time Scale 24 hours (BVI Business Companies, LPs).
Incorporation Fees None.
Annual Fees Business companies, US$350-US$1.100 depending on share capital structure (number and type of shares authorised for issue); limited partnership US$500.
Minimum Number One.
Residency Requirements None.
Corporate Directors Permitted.
Meetings/Frequency As directors determine.
Disclosure No.
Bearer Shares Permitted (must be held by an authorised recognised custodian).
Minimum Number One.
Public Share Registry No.
Meetings Frequency As directors or shareholders determine.
Annual Return No.
Audit Requirements No.
Registered Office Yes, must be in BVI and must be the registered agent.
Domicile Issues Re-domiciliation to and from BVI allowed under BVI law.
Company Naming Restrictions Restricted words such as ‘banking’, ‘insurance’, ‘fund’, ‘trustee’ will not be allowed without relevant licence.
ARTICLES
In the Chair …Anthony Travers, Travers Thorp Alberga
  The IFC Economic Report invites Anthony Travers to discuss Westminster’s public register demands and asks if existing tensions could result in a push by some of the Overseas Territories to break away from Britain. (01/09/2018)
As the Blockchain Revolution Moves Offshore, What are the Challenges?
  As the Cayman Islands, Bermuda, the BVI and other offshore jurisdictions position themselves as FinTech hubs, there are certain regulatory risks and challenges that each jurisdiction must overcome in this new blockchain era. (01/09/2018)
Offshore: The Leaders, the Trends and the Opportunities
  Dan Wise looks at why certain IFCs prosper. He discusses regulation and investment opportunities, and opines on the implementation of public registers of beneficial ownership in the British Overseas Territories. (01/09/2018)
Q&A with David Lidington, Minister of the Cabinet Office
  The UK’s secure relationship with the British Overseas Territories has been thrown into question following the UK parliament's decision to implement public registers of beneficial ownership. (01/09/2018)
The New BVI Limited Partnership Act
  Despite having been hit by two major hurricanes in September 2017, the BVI continues to demonstrate its commitment to being a leading IFC with the enactment of the new Limited Partnership Act. (01/07/2018)
Going for Global Growth: Why China Chooses the BVI
  According to one of the lead economists, China’s Belt and Road Initiative is and will continue to be the most important and impactful macro-economic undertaking in the world, for at least the next 10 years. Also, based on Baker McKenzie’s latest repo (29/06/2018)
The Appeal and Efficacy of Private Trust Companies
  "Legal advisers in international finance centres have devised an efficient vehicle that permits the modern settlor ‘control’, ‘confidentiality’ and ‘capacity’, explains the BVI's Hélène Anne Lewis (01/05/2018)
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FURTHER BACKGROUND INFORMATION
  British Virgin Islands Tax Treaties
  The BVI currently has 25 tax agreements in place consisting of 1 DTA and 24 TIEAs. - read more...
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