BVI Offshore Companies

BRITISH VIRGIN ISLANDS (BVI) OFFSHORE COMPANIES

The British Virgin Islands (BVI) is an English speaking country in the Caribbean, about 90 miles east of Puerto Rico. It is a British Dependent Territory, a stable and peaceful democracy, and one of the oldest and most reputable countries in the offshore services business.

The form of offshore company in BVI is the International Business Company (IBC). IBC's are very popular and well known for their flexibility and tax free status. They are governed by the International Business Companies Act of 1984 (as amended).

Note that BVI is a British Dependent Territory and therefore will be subject to the EU Savings Tax Directive. it is most suitable for non-EU/UK citizens and residents.

NEW

2013 LEGISLATIVE CHANGES (UPDATED IN 2014)

Accounting records must be kept for all BVI companies for 5 years from the start or termination of transactions. The location at which the records are being kept must be reported to the BVI Registered Agent. If the location changes, the company must notify the Registered Agent, in writing, of the change and provide the new physical address within 14 days of the change. Records must include copies of invoices and contracts, etc. such as may be required to enable the financial position of the company to be dertermined at any time.

Clients must also advise the Registered Agent of the physical location of the original Registers of Directors and Members of companies. Also, the Registered Agent must be notified within 15 days after any updates are made to the Registers.

Significant penalties apply for non-compliance.

Contact Maritime International Ltd. for details and requirements.

OVERVIEW OF KEY FEATURES

Offshore companies registered in BVI are tax free and there is no requirement to file annual returns or audited statements. However, accounts must be kept. A BVI company may do business anywhere in the world. There is no requirement for Directors and Shareholders to be residents in BVI and they may be of any nationality.

Bearer shares are no longer permitted.

See also, BVI Offshore Investment Funds - One of the Global leaders, BVI is the home of over 3,000 Mutual & Hedge Funds. Highly recommended and excellent for start-ups.

QUICK REVIEW OF BVI OFFSHORE COMPANIES

BVI OFFSHORE COMPANY FEES

• Click Here for Typical BVI Offshore Incorporation Fees
• Compare BVI Company Fees to Other Jurisdictions
• Request a No-Obligation Quotation or Place an Order for a BVI IBC
• View Shelf Companies (ready-made companies) Available

OFFSHORE BANKING & TRADING/BROKERAGE ACCOUNT SERVICES

We recommend bank accounts for your company be opened in a separate jurisdiction from that of the country of incorporation. Maritime International Limited opens bank accounts worldwide: in Europe, the Channel Islands, Caribbean, the Pacific and the Far East.

We also open online and managed trading (brokerage) accounts at numerous world institutions.

Contact Maritime International Limited for details on banking and trading (brokerage) account options meeting your needs.

OFFSHORE COMPANY MANAGEMENT SERVICES AVAILABLE

Corporate Identity Package, Mailing Address, Banking Address, Basic Account Maintenance, Invoicing Services, Employee Contracts, Document Safekeeping and general Corporate Services.

GENERAL INFORMATION

NAME RESTRICTIONS

The company may not use a name identical or similar to an existing company so as to cause confusion. The use of the following words is also prohibited except by licence or BVI Government approval: Bank, Trust, Trustees, Insurance, Assurance, Reinsurance, Building Society, Savings, Loans, Chamber of Commerce, University, Municipal Fund, Investment Fund Management or their equivalents in foreign languages.

AUTHORIZED CAPITAL

We recommend standard authorized capital of US$ 50,000.00 with a par value of $1 per share.

There are additional Government fees for authorized capital of over US$ 50,000.00 or shares of no par value.

SUFFIXES TO DENOTE LIMITED LIABLITY

The company name may end in Limited, Corporation, Incorporation, Societe Anonyme, Sociedad Anonima, or the relevant abbreviations.

TIME TO INCORPORATE A BVI OFFSHORE COMPANY

It usually takes 2 business days to incorporate a BVI offshore company plus processing and courier time to deliver, depending on the location of the client. The company can legally be used by the client as of the date of incorporation.

RE-DOMICILE (IN & OUT) OF OFFSHORE COMPANIES

An offshore company can be moved into or out of BVI as required.

EXCHANGE CONTROLS

There are no exchange controls.

INFRASTRUCTURE

The telephone system is excellent and there are daily flights to and from the US. BVI is a major cruise ship destination.

General Information

Professional Services

Additional Services