Fact File Supplied By:
BVI Finance Limited.
Greenwich Mean Time -4.
Terrance B. Lettsome International Airport.
Democratic 13-member legislature/government.
International Dialing Code
Based on English common law. UK Privy Council is final court of appeal.
Renowned as a corporate domicile for business companies, trust settlements, captive insurance, mutual funds and shipping registration.
Personal income tax
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.
Tax Information Exchange Agreements
Aruba, Australia, Canada, China, Curacao, Czech Republic, Denmark, Faroe Islands, Finland, Germany, Greenland, Guernsey, Iceland, India, Ireland, Isle of Man, Japan, Netherlands, New Zealand, Norway, Poland, Portugal, Sint Maarten, South Korea, Sweden, United Kingdom and United States.
Double Taxation Agreements
Isle of Man, Guernsey, Poland, South Korea, Japan, Canada, Netherlands, Czech Republic, Sweden and India.
All currencies permitted.
Minimum authorised capital
None unless engaged in regulated activities which are subject to varying requirements based on licence type.
Minimum share issue
BVI business companies, limited partnerships, segregated portfolio companies, restricted purpose companies, companies limited by shares and/or guarantee.
Timescale for new entities
24 hours (BVI business companies, LPs).
Business companies $350-$5,000 depending on the company type, whether it is authorised to issue shares, its share structure (number and type of shares authorised for issue); Limited Partnership ($500).
Business companies, US$350-US$1,000 depending on share capital structure (number and type of share authorised for issue); limited partnership US$500.
At least one director must be resident where the company is licensed to perform certain banking, trust, fiduciary and insurance business.
As directors determine.
Shareholder details must be maintained with company registered agent.
Permitted (must be held by an authorised custodian or a recognised custodian).
Public share registry
As directors or shareholders determine.
Annual audited statements are required for entities licensed to carry out regulated business.
Yes, must be in the BVI and must be the office of the registered agent.
Re-domiciliation to and from the BVI allowed under BVI law.
Company naming restrictions
Restricted words such as 'banking', 'insurance', 'fund', 'trustee' will not be allowed without relevant licence.