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British Virgin Islands
NEWS
  Ireland eyes opportunities in global regulation focus on 29/07/2010
  UK FS welcomes Virgin Islands on OECD ‘White List’ on 28/07/2010
  Ireland showing best funds growth on 23/07/2010
  Indian Premier League: Probe set to spread to tax havens on 22/06/2010
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FACT FILE
Location Eastern Caribbean.
Time Zone Greenwich Mean Time -4.
Population App. 26,000.
Capital Road Town.
Airport Beef Island.
Language English.
Currency US dollar.
Dialing Code +1 284.
Centre's Expertise Renowned as a corporate domicile for business companies, trust settlements, captive insurance, mutual funds and shipping registration.
Political System Democratic 13-member Ministerial Government.
Legal System System based on English common law. UK Privy Council is final court of appeal.
Personal Income Tax 0%.
Corporate Income Tax No income (profit) tax. Payroll tax-resident companies: 10% or 14% (employees: 8% fixed, employers: 2% or 6% depending on business size). Non-resident companies: same as resident, on BVI -based employees only.
Exchange Restrictions No.
Tax Treaties
Permitted Currencies All currencies permitted. Official currency: US dollar
Minimum Authorised Capital No minimum.
Minimum Share Issues One share.
Shelf Companies BVI business companies limited partnerships, segregated portfolio companies, restricted purpose companies, companies limited by shares and/or guarantee.
Incorporation Time Scale 24 hours (BVI Business Companies, LPs).
Incorporation Fees Business companies, US$350-US$1,100 depending on share capital structure (number and type of shares authorised for issue); limited partnerships US$500
Annual Fees Business companies, US$350-US$1.100 depending on share capital structure (number and type of shares authorised for issue); limited partnership US$500.
Minimum Number One.
Residency Requirements None.
Corporate Directors Yes (must be held by authorised/recognised custodian.
Meetings/Frequency As directors determined.
Disclosure No.
Bearer Shares Yes.
Minimum Number One.
Public Share Registry No.
Meetings Frequency As directors or shareholders determine.
Annual Return No.
Audit Requirements No.
Registered Office Yes, must be in BVI as must be the registered agent.
Domicile Issues Re-domiciliation to and from BVI allowed under BVI law.
Company Naming Restrictions Restricted words such as ‘banking’, ‘insurance’, ‘fund’, ‘trustee’ will not be allowed without relevant licence.
ARTICLES
Secured financings involving BVI and Cayman companies – taking and registering security
  Ashley Davies offers a practical guide to secured financing in Asia using a BVI or Cayman Islands company. (31/08/2010)
Securities and Investment Business Act, 2010
  Simon Schilder explores BVI's Securities and Investment Business Act, 2010.. (05/05/2010)
A Landmark for BVI Litigation – the Commercial Court
  2009 BVI overview by Richard Evans, Associate, Conyers Dill & Pearman, and Tameka Davis, Associate, Conyers Dill & Pearman (09/02/2010)
British Virgin Islands: Meeting the Challenges of the Global Financial Environment
  An overview of the year in finance as experienced by the British Virgin Islands (12/01/2010)
Bearer Deadline
  Bearer shares in certain BVI companies are to be disabled after 31 December 2009 – these are the issues to consider if you have taken security over bearer shares. (07/12/2009)
The BVI leads with new world compliance and private trust companies
  Peter Larder analyses the characteristics and uses of the BVI private trust company. (06/01/2009)
Flexible and innovative legislation ensures continued success in the BVI
  Sherri Ortiz provides a regulatory and legislative overview of the BVI. (10/01/2008)
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