British Virgin Islands Company Registration (B.V.I.)

British Virgin Islands Company Registration

The British Virgin Islands (BVI), a British overseas territory in the Caribbean, operates under English common law. Since the enactment of the International Business Companies Act in 1984, it has become a leading offshore financial center. With over 368,000 international business companies registered, BVI is one of the world’s most popular and recognized offshore jurisdictions.

Ⅰ. Basic introduction of the British Virgin Islands

• Location
  Located in the Indian Ocean, 4 to 5 degrees south of the equator, this island nation is made up of 117 islands.

• Language
  English, Spanish.

• Population
  About 30,240 people.

• Currency
  USD.

• Legal System
  British common law.

• Time Zone
  UTC-4.

• Economics
  As one of the Caribbean’s most economically developed nations, it thrives on tourism and the yacht industry, with offshore financial services serving as its primary source of revenue.

• Foreign Exchange Control
  None.
  

• Main Company Legislation
  Companies Act 2004

Ⅱ. What are the advantages of setting up a BVI company?

• Low maintenance cost.

• No need to provide capital in place.

• Can be listed on global stock exchanges.

• Corporations are allowed to issue multiple classes of stock, such as registered shares, no-par value stock, preferred shares, redeemable stock, and shares with or without voting rights.

• Commonly used for investing in and holding ownership of foreign companies.

• In the British Virgin Islands, offshore company shareholders, directors, and managers can be individuals or entities of any nationality. There is no requirement to hold board or shareholder meetings within the BVI, nor is an annual general meeting mandatory.

• When setting up an offshore company in the British Virgin Islands, each beneficial owner, shareholder, and director must submit verified identification and proof of address to the registered agent and keep the information up to date. This information remains confidential and is securely held at the registered agent’s office.

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