Setting up your Business in BVI
BVI Business Companies (BC)
Setting up your offshore company in BVI
British Virgin Islands (BVI) is a member of the British Commonwealth and self-governing in 1967. Its International Business Company (IBC) legislation introduced in 1984 enhanced the jurisdiction’s popularity. Flexibility has been a critical factor in explaining this phenomenal success.
The BVI has established a solid international presence and enjoys a reputation for its flexible and modern corporate regime, tax neutrality, respected legal system, political stability and effective regulatory framework.
Set up offshore in BVI – Company structure flexibility
- Only one director or shareholder is required for the company formation.
- Shareholder(s) and director(s) may be the same person.
- The shareholder(s) and director(s) can be a natural person or a corporate body.
- There is no requirement of appointing local shareholder(s) and director(s) for British Virgin Island companies.
- There is no requirement of resident secretary.
Strong asset protection
Most IBC’s are used as asset protection vehicles, very often in combination with a trust as a holding company. Set up an offshore company in BVI is ideal for international trade, holding intellectual property rights, e-commerce, inheritance, consultants, IT company, amongst others but, most importantly as an asset protection vehicle; the directors of a BVI business company may protect the assets by transferring its assets to another company, trust, foundation, association, partnership or any other strong asset protection vehicle.
Privacy for identity of principals
The BVI incorporation documents do not carry the name or identity of any shareholder of director. The names or identities of these persons do not appear in any public record.
Confidentiality
Shareholder(s) and director(s) nominee services are allowed to ensure confidentiality of beneficiaries in offshore company registration in BVI.
Provisions against confiscation
If a foreign Government or authority seizes company shares, or any other interest in the company in connection with nationalization, expropriation, confiscatory tax, other governmental charge or with a similar cause the company or a shareholder may apply to the BVI court for an order that the company disregard the seizure and continue to treat the person from whom the shares were seized as continuing to hold the shares.
But not all!
BVI Business Company (BC) set up
Low start-up cost and low annual maintenance.
Excellent reputation and credibility.
Tremendous flexibility as it relates to the constitutional documents.
Complete tax exemption in the country of registration.
No currency restriction or residency requirements.
Ease with which profits can be released to make a distribution to shareholders.
Minimal reporting requirements.
Political stability.
No capitalisation requirements for companies.
Under normal circumstances, BVI corporations can be incorporated within 2-3 working days.
The oldest and most respected offshore jurisdiction in the world.
The most elaborate offshore legislation in the world.
The highest level of security. Information about the owners, shareholders and directors of the company is safely hidden from inquisitive eyes.
BVI Act does not limit the size of the share capital of companies and does not specify the exact timing for its payment.
BVI law does not require the company to submit financial statements.
Free use of directors and shareholders as legal entities.
Register an offshore company in BVI is a very fast and quick process, taking no longer than 24/48 hours.
Setting up an Offshore Company in BVI is one of the best options for your international business.
Incorporation of BVI companies is managed by the local division of Atrium & Associates (BVI) Ltd. Our offices are located at Wickhams Cay, Road Town, the capital city of the British Virgin Islands. Our highly qualified staffs are at your disposal to deal with all the necessary licenses and permits.
If you require a confidential and fast company formation BVI, you’ll be comfortable dealing with us to incorporate in BVI!
BVI General Corporate Information
Here’s a comprehensive summary of General Corporate Information for BVI (British Virgin Islands) companies, covering the key aspects including general overview, corporate requirements, local requirements, and annual obligations:
General Overview
The British Virgin Islands (BVI) is a leading offshore financial jurisdiction, well known for its modern and flexible corporate laws, political stability, and strong privacy protections. Companies are typically incorporated under the BVI Business Companies Act, 2004, which supports a wide range of business activities and corporate structures.
Key Advantages
- Zero corporate tax, capital gains tax, and withholding tax
- Full foreign ownership allowed
- No exchange controls
- Fast incorporation (1–2 business days)
- Privacy: Shareholder and director details are not publicly disclosed
Corporate Requirements
| Company Name | Must be unique and not misleading or restricted |
| Company Type | Commonly a Company Limited by Shares |
| Minimum Shareholder(s) | 1 (individual or corporate, no nationality restriction) |
| Minimum Director(s) | 1 (individual or corporate, no residency required) |
| Company Secretary | Optional |
| Share Capital | No minimum requirement (commonly USD 50,000 authorized) |
| Bearer Shares | Not permitted (abolished for regulatory compliance) |
| Registered Agent | Mandatory – must be licensed and located in the BVI |
| Registered Office | Required – must be maintained in the BVI |
Local Requirements
| Registered Agent | Every BVI company must appoint a local licensed registered agent, to manages all legal compliance. |
| Registered Office | A local office must be maintained at the premises of the registered agent. |
| Public Records | While incorporation details are filed with the BVI Financial Services Commission (FSC), shareholder and director information is kept confidential (except Register of Directors, which is filed but not public). |
| Language | All documents must be in English or have a certified English translation. |
Annual Requirements
| Annual Renewal Fees | Payable to maintain company in good standing (due on incorporation anniversary) |
| Annual Return | Required from 2023; must be filed with the registered agent (not public) |
| Financial Statements | No filing requirement, but records must be maintained for 5 years |
| Economic Substance Reporting | Required if the company conducts certain relevant activities |
| Tax Filing | None for non-resident companies; no corporate taxes |
| Meetings | Not required to be held in BVI |
| Audit | Not mandatory unless specifically required under another regime |
Economic Substance Requirements
If the company engages in any of the following “relevant activities”, it must comply with economic substance laws:
- Banking
- Insurance
- Fund Management
- Finance and Leasing
- Headquarters Business
- Shipping
- Holding Business (pure equity holding companies)
- Intellectual Property Business
- Distribution and Service Centre Business
This may require demonstrating adequate physical presence, staffing, and expenditure in the BVI.
