BRITISH VIRGIN ISLANDS (BVI)

The local government was among the first in the world, in 1984, to implement offshore company legislation - the (International Business Companies Act). The Act is considered by many professionals as the best of its kind, and in practice it works wonderfully, too! To date, the BVI evidently are the 'number one' jurisdiction for incorporation of International Business Companies: more than 400,000 IBCs have been registered by the local Registrar.

The best offshore tool in the BVI: International Business Company (IBC)

OUTSTANDING FEATURES:

Corporative legislation	The Act on International Business Companies 1984, amended on 1988, 1990, 1994.
Form of tax-exempted company	International Business Company (IBC), hereinafter company;
Authorized business activities	All and any activities not prohibited by the law; Providing of banking, insurance and re-insurance, trust services is subject to special license;
Prohibited activities	Transactions with the residents of BVI, ownership of real estate on the territory of BVI;
Taxation	Company is exempted from all and any taxes and duties;
Name of the company	The name must not be identical or confusingly similar to the existing ones. The name has to include the words Limited, Corporation, Incorporated, Societe Anonyme, Sociedad Anonima, Company, Limitada, Societe par actions, Aktiengesellschaft or abbreviations Ltd, Corp., Inc., A/S, AG, N.V., B.V., GmbH, S.A. Words Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Royal, Trust Company, Trustee Company or other words with similar meaning may not be used in the name of IBC company;
Who executes the foundation documents?	Signatories, whose functions are limited to signing of the foundation documents and nomination of the first director;
Equity capital of the company	Equity capital of the company is established by declaration, no mandatory contribution is required and no minimum/maximum limits are set;
Recommended equity capital	50000 USD, divided into 50000 shares par value 1 USD;
Shares	Authorized emission of both registered and bearer shares with or without par value;
Shareholders - Minimum number - Nominal shareholders	One natural or legal entity; Permitted;
Does the law provide for non-disclosure of the information -about actual owner of the company -about bank operations	Yes (the actual owner of company is not registered in BVI); Yes;
Directors - minimum number - nationality and citizenship - status	One natural or legal entity; No requirements; All the powers apart from those falling into exclusive competence of shareholders (as determined by memorandum, articles of association and/or the law);
On the territory of BVI there has to be: - registered office - registered agent	Required; Required;
Holding of the meeting of shareholders/directors	Meetings may be hold in any part of the world, also by means of telephone communication; Minutes may be kept at any place;
Mandatory - keeping of accounting records - annual account - presentation of auditors conclusion	No; No; No;
Information at disposal to the third party	Memorandum and articles of association, the name of the registration office and registration agent;
Documents kept at the registered office	The book of shareholders, impress of seal;
Agreements on exemption from double taxation	None;
Currency control	No;
Term of incorporation	3 weeks;
Costs of registration of company	Look below
Financial year ending on:	March for companies incorporated in the first 6 months of a year; September  for companies incorporated in the last 6 months of a year
Possibility to purchase a ready-made company:	YES

BVI INTERNATIONAL BUSINESS COMPANY FEES STRUCTURE

I. THE BASIC SET OF SERVICES AND DOCUMENTS:

US$ 1,050The set includes the applicable Minimal Government Registration Fee, a current year Registered Agent and Registered Office Fee, Certificate of Incorporation, Memorandum & Articles of Association, Minutes with Appointment of Initial director(s), Share Certificates.

II. OPTIONAL SERVICES

Legalization by Apostille (recommended): US$ 180

Note. BVI is a signatory to the Le Hague Convention of October 25, 1961, and therefore the documents of the company can be authenticated via Apostille and automatically legalized in all countries having signed the convention. So, there is no need to provide expensive and time consuming legalization in consular establishments when you are opening bank accounts, setting up a branch, purchasing a real estate property, etc.

US$ 150 per document for each extra copy of Certificate of Good Standing , Certificate of Incumbency , Certificate of Incorporation , Certificate of Formation ,  Memorandum & Articles of Association, Articles of Incorporation, or By-laws.

Certificate of Good Standing with Apostille: US$ 250

Nominee Director's Package: US$ 590

The Nominee Director's Package consists of nominee director's services and general power of attorney authenticated by apostille for one year.

Note. Using the General Power of Attorney you would be able to sign contracts, open, manage, and close bank accounts and generally do all things what the company director would do.

Full Nominees' Package: US$ 990

The package consists of the Nominee Director's Package (see above) and a Nominee Shareholder services.

Mail forwarding from the BVI: US$ 450 per year

Note. The max. number of the pieces is 24 per year.

IMPORTANT NOTES

• We reserve the right to change fees without notice.
• The payment options are: WIRE TRANSFER

Applicable legislation:

International Business Companies Act with amendments

The first offshore legislation  (The International Business Companies Act) was implemented in 1990. Its provisions acquired the best from the British Virgin Island's similar Act.

Useful links:

• BVI Guide