Since 1984 more than 600,000 companies have been incorporated in the BVI, more than 5,000 new companies are incorporated each month, choosing the BVI as one of the most popular offshore havens.
International Business Company, IBC, Formation basics for BVIEach company must have memorandum and articles. There is no legal demand to specify the operational object of the IBC.
Each company must have a registered address in the BVI.
There is no obligation for minimum paid -up capital. IBC's are generally incorporated with authorised share capital of $ 50,000, divided into 50,000 shares of $ 1 each.
Each company must have at least one shareholder and one director who may be the same person.
The shareholders/directors may be individuals or companies.
Non-residents may act as directors.
The IBC name must not include , without prior written permission, certain words appearing in an official published list. e.g "bank", "chartered", "trust", "royal" or "cooperative".
There is no need to hold annual general meetings.
Accounts are kept for internal use only. There is no obligation to audit the accounts or file annual tax returns.
There is an annual government license fee of $350.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
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