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
For full list, go to www.bvi.gov.vg/tiea
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.