About British Virgin Islands ("BVI")
The British Virgin Islands ("BVI") is a British Overseas Territory and became autonomous in 1967. In 1984, An International Business Company legislation ("IBC Act") was enacted in BVI which enhanced the Islands’ popularity for offshore company formation. Effective 1 January 2005, the IBC Act was replaced by the Business Companies Act ("BC Act") which brings the legislation in line with the modern world. Since its enactment, BVI registered companies are now accepted to be listed on leading Stock Exchange worldwide, including the Hong Kong Stock Exchange.
The BVI has established a solid international presence and enjoys a reputation for cutting-edge, progressive and user-friendly legislation with quality services.
General Information
- Official Language: English
- Legal System: English Common Law
- Currency: United States Dollar (USD)
- Time Zone: GMT -4
Features and Benefits
- No taxes levied on Business Companies
- Exempt from exchange controls
- Privacy and asset protection
- Privacy of identity for principals
Setup Requirement
Set up a BVI Company is fast and easy. There are no restrictions on nationality of Shareholders or Directors.
Company Name
- English name; or
- Both English and Chinese name.
Shareholder(s) and Director(s)
- No nationality restriction;
- Minimum one shareholder and one director;
- Corporate shareholder and director is acceptable; and
- A copy of passport and residential address proof are required for company registration.
Company Secretary and Registered Address
- A registered address is required in BVI;
- A correspondence address is required; and
- Client should maintain an alternative address for operation; and
- Company secretary is optional under BVI regulation.
Capital Requirement
- Minimum 1 share to be issued (equivalent to USD 1);
- Par value per share are normally USD 1; and
- Standard number of shares is 50,000 shares.
