Setup and Maintenance Costs

Incorporation (Setup) Costs - US$1950

The fee is all inclusive, no hidden costs.

Our company kits are always delivered with the same documents but may vary slightly from jurisdiction to jurisdiction.
Our corporate kits are delivered with the following documents:-
- Articles of Incorporation in English (Notarized and legalized by Apostille)
- Appointment of First Directors / Nominee Directors (if applicable)
- Nominee shareholders (if applicable)
- Shareholder certificates
- Minute Books
- Share registry books
- 1 Power of Attorney (Notarized and legalized by Apostille)
- Certificate of Incorporation
- Trust agreement (when applicable)
- Minutes and / or board resolutions when requested.

Annual Maintenance Costs

Annual Maintenance Costs - US$1550

The fee is payable after the first year and covers annual taxes, registered agent and nominees. No hidden costs.

Compliance

Authorised and Issued Share Capital.

The normal authorised share capital is US$50,000with all of the shares having a par value, this being the maximum share capital for the minimum duty payable upon incorporation and annually thereafter. The share capital may be expressed in any currency. The minimum issued capital is one share of no par value or one share of par value.

Classes of Shares Permitted.

Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.

Taxation

An International Business Company does not pay any tax on its world-wide profits to the British Virgin Islands authorities.

Double Taxation Agreements

Licence Fees

Financial Statement Requirements

Directors

Company Secretary

Shareholders.

General Information

The British Virgin Islands consist of 60 islands and cays having a total land area of 150 sq km. The BVI lie to the north west of the United States Virgin Islands and are separated from them by a channel only five kilometres wide. The neighbour with the largest land area is Puerto Rico, 96 km to the west. Except for Anegada, which is a flat, coral island with little soil, the islands are hilly. The BVI's greatest tourist attraction is their superb beaches.

Population

The largest and most heavily populated Island is Tortola, which has about 16,000 inhabitants. The capital, Road Town, is on the southern shore near Sir Francis Drake Channel. Tortola is connected by a bridge to Beef Island. There are a further 4,000 inhabitants who reside on the other islands, 3,500 of which are in Virgin Gorda which is noted primarily for its unusual and interesting scenery and rock formations.

Political Structure

The British Virgin Islands were discovered by Columbus who is said to have been so impressed by their large number that he named them 'Las Virgenes' in honour of St. Ursula and her 11,000 attendant virgins. During the 16th and part of the 17th centuries the Islands harboured Dutch and English Buccaneers. In 1672, Britain claimed Tortola. Simultaneously, Denmark asserted her sovereignty over St. Thomas and St. John; then in 1773 Denmark purchased St. Croix from France. The Danish Islands were sold to the United States in 1917 for US$ 25 million. Relations between the United States and British Virgin Islands are good. The British Virgin Islands is an internally self-governing colony with a ministerial system of Government operating under a Constitution adopted in 1967. The Governor, appointed by the Crown, remains responsible for defence and internal security, external affairs, the civil service, the administration of the courts and finance. He continues to reserve the legislative powers necessary for the exercise of his special responsibility. However, on other matters he is normally bound to act in accordance with the advice of the Executive Council. This consists of the Governor as Chairman; two ex-officio members (the Attorney General and Financial Secretary); the Chief Minister, appointed by the Governor as the elected member who appears best able to command a majority in the Legislative Council; the Deputy Minister; and two other ministers appointed by the Governor on the advice of the Chief Minister. Elections are held at intervals of not more than five years.

Infrastructure And Economy

There is an excellent daily air service between the Islands and the USA. Cruise ships call in weekly to the Islands and there are freight carriers. The economy, one of the most prosperous in the Caribbean area, is highly dependent on the tourist industry, which generates about 21% of the national income. In 1985, the Government offered offshore registration to companies wishing to incorporate in the Islands.

Language

The official and spoken language is English.

Currency

US Dollar.

Exchange Control

None.

Type of Law

Common Law, based on English Common Law with local modifications and local statutes.

Principal Corporate Legislation

The Companies Act (Cap. 285) and The International Business Companies Act (Cap. 291).

Company Information

International Business Company's ('IBC's') are companies incorporated in the British Virgin Islands ('BVI') under the International Business Companies Act, 1984, but whose business is to be conducted outside the BVI, and which may not do business with any person resident in the BVI. BVI IBC's are a very popular and widely used offshore companies because of their administrative ease, flexibility, taxation exempt status and the fact that they are widely accepted and understood by the international financial community. BVI IBC's may not own real property in the BVI, other than the lease of an office, and may not carry on banking or trust business (unless licensed under the Banks and Trust Companies Act, 1990) or insurance or re-insurance business (unless licensed in the BVI to carry on that business). Otherwise, BVI IBC's may engage in any activity that is not illegal under the laws of the BVI subject to any restrictions in their Memorandum of Association. The British Virgin Islands are a small group of islands in the Caribbean Sea located 60 miles east of Puerto Rico. The BVI has excellent airline connections with Puerto Rico's capital of San Juan, which is a major hub for American Airlines. The BVI financial services industry enjoys the advantages of having responsibility for its internal self-government, while maintaining the political and economic stability associated with being a British Overseas Territory. The BVI has an independent legal and judicial system based on English Common Law, with a right of final appeal to the Privy Council in London. Policies and legislation are developed in close consultation with the private sector. Offshore business can be carried out in a tax-free environment.

Type of Company for International Trade and Investment

The BVI International Business Company.

Procedure to Incorporate

Submission of the Memorandum and Articles of Association and a Certificate from the Registered Agent confirming compliance with the requirements of the ordinance.

Restrictions on Trading

BVI IBC's cannot trade within the British Virgin Islands or own real estate there. Cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship, the rendering of investment advice or any other activity that would suggest an association with the banking or insurance industries. Cannot offer its shares for sale to the public.

Language of Legislation and Corporate Documents

English.

Registered Office Required.

Yes, must be maintained in the British Virgin Islands, and must be maintained at the office of a licensed management company.

Shelf Companies Available

Yes.

Time to Incorporate

2 days.

Language of Name

Latin Alphabet. Any name in a language other than English must be accompanies by a translation to ensure that the name is not restricted.

Suffixes to Denote Limited Liability

Limited, Corporation, Incorporated, Société Anonyme, Sociedad Anónima or their relevant abbreviations.

Disclosure of Beneficial Ownership to Authorities

No.