BVI Business Company
In December of 2004, BVI government enacted a new legislation, the BVI Business Company Act, 2004 later replacing the old International Business Companies Act in 2007. All existing IBCs have been transferred to the new BCs by the registry since then.
Key Features
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Factor
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Status
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Remarks
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Tax
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Not Applicable
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BC tax exempted on all profits/income.
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Local Registered Agent / Office
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Required
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Must have a local Registered Office and local Registered Agent.
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Level of Confidentiality
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High
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Minimal disclosure requirements and the ownership of shares and the names of directors and officers are not available on the public record.
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Authorized Share Capital
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Not Restricted
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There are no minimum capital requirements and shares may be denominated in any currency. Shares may be issued with or without a par value and may be issued in different classes with special rights attached.
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Double-Tax Avoidance Treaty
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Not Applicable
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Keeping of Corporate Books, Records, and Registers
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Required
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Copy of the Register for both Directors and Members must be kept at the Registered Office or a place of directors' choice.
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Annual General Meeting (AGM)
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Not Required
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Annual/Tax Return
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Not Required
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Shareholders
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Minimum 1
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Corporate entity allowed.
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Directors
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Minimum 1
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Corporate entity allowed.
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Secretary
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Not Required
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Back to British Virgin Islands Introduction.