The Location:
BVI is a British overseas territory island located in the Caribbean - to the east of Puerto Rico. The capital is Road Town; the official language is English, and the currency is the US Dollar (USD).
Key Benefits & Features of Company Formation:
- Only one Director or Shareholder is required – corporate body or natural person – from any country, whilst Directors or Shareholders for company incorporation can be the same person.
- A Secretary is not required.
- The names and identity of any Directors or Shareholders are not disclosed on any company incorporation documents, nor do they appear in any public record.
- Strict confidentiality laws.
- Taxes: none levied on banking and offshore transactions; no income, capital gains or other kind of tax.
- Tax treaties with both the USA and the EU.
Additional Information:
- As a British Overseas Territory, the legal system is based on that of the UK.
- The most commonly incorporated company is the International Business Company (IBC).
- An IBC is restricted in conducting business outside of the BVI.
- An IBC is restricted in conducting business with companies and residents of BVI, unless it meets certain criteria:
- It holds a property lease where company books and records are prepared or maintained.
- It prepares or maintains books and records within the BVI.
- Its meetings are held within the BVI.
- It works with businesses and business service personnel within the BVI in a professional capacity.
- It maintains shares, other securities or debt obligations in companies within the BVI – either IBCs or locally incorporated.