Authorised and issued Share Capital
The normal authorised share capital is US$ 50,000 with all of the shares having a par value, this being the maximum share capital for the minimum duty payable upon incorporation and annually thereafter. The share capital may be expressed in any currency. The minimum issued capital is one share of no par value or one share of par value.
Classes of Shares Permitted
Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights
A Business Company does not pay any tax on its world-wide profits to the British Virgin Islands authorities.
Double Taxation Agreements
The British Virgin Islands has treaties with Japan and Switzerland, although they have limited benefit and are not applicable to offshore business.
Tax Information Exchange Agreements
A Tax Information Exchange Agreement (TIEA) is a bilateral agreement that has been negotiated and signed between two countries to establish a formal regime for the exchange of information relating to civil and criminal tax matters.
Current TIE Agreements signed by BVI:
Aruba, Australia, Canada, China (People’s Rep.), Curacao, Czech Republic, Denmark, Faroe Islands, Finland, France, Germany, Greenland, Guernsey, Iceland, India, Ireland, Isle of Man, Japan, Netherlands, New Zealand, Norway, Poland, Portugal, Saint Maarten, South Korea, Sweden, United Kingdom and United States. Financial Statements Required
Whilst there is no requirement to file audited accounts with the authorities, a company is required to keep financial records, which reflect the financial position of a company.
The minimum number of directors is one. They may be natural persons or bodies corporate. They may be of any nationality and need not reside in the British Virgin Islands.
A company secretary may be appointed. The company secretary may be a natural person or a body corporate. They can be of any nationality and need not reside in the British Virgin Islands.
The minimum number of shareholders is one.
British Virgin Islands Today!
Matter you would like to discuss with us
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