BVI Company Incorporation
BVI Company Formationfrom USD 2,750
If you want to set up an offshore company in the British Virgin Islands, our BVI company formation agents can help you. Contact us for a personalized offer.
We offer complete solutions for your BVI company formation.
Company formation in the British Virgin Islands from USD 2,750
State fees and the lawyer’s or service provider’s fee apply.
| Quick Facts | |
|---|---|
| Types of companies available for incorporation in the BVI | – BVI business company limited by shares (still commonly called an IBC); – Company limited by guarantee (with or without shares); – Unlimited company (with or without shares); – Restricted purposes company; – Segregated portfolio company. |
| Most used business form | The BVI business company limited by shares (commonly still called an IBC) |
| Minimum share capital for the IBC | No minimum (at least one share must be issued; shares may have no par value) |
| Minimum number of shareholders | 1 |
| Minimum number of directors | 1 |
| Residency requirements for shareholders or directors | Not applicable |
| IBC can have corporate shareholders or directors | Yes |
| Mandatory company secretary requirement for the IBC | Not mandatory but commonly used |
| Documents required for IBC creation | For individual shareholders: certified passport copy, proof of address, bank reference, statement on the source of funds, etc. |
| Approximate time to open an IBC | 2 weeks |
| Approximate company formation costs for an IBC | Starting from $2,750 |
| Bank account opening requirement | As part of the post-incorporation steps |
| Accounting requirements | Accurate accounting records to reflect the company’s financial situation. |
| BVI IBC taxation | Not subject to tax |
| Common uses of the BVI IBC | Holding, international trading, etc. |
What types of companies are available for incorporation in the BVI?
Investors interested in setting up a company in the British Virgin Islands can choose between one of the following types of companies:
- International Business Company (IBC);
- Company limited by shares or by guarantee;
- Unlimited company;
- Restricted purpose company;
- Segregated portfolio company.
Note: In practice, international investors will often incorporate a BVI International Business Company.
What are the characteristics of the BVI IBC?
The International Business Company is a private corporation with the following features:
- It is not taxed in the BVI;
- It can engage in almost any type of business activity, in or outside the BVI (subject to conditions, see below);
- It offers a high degree of confidentiality;
- It can be incorporated by at least one shareholder and must have one director.
The confidentiality advantage is offered courtesy of the fact that there are no mandatory public registers of the company’s shareholders or beneficial owners (these are filed privately with the Registrar; only current directors’ names are public).
What are the mandatory requirements when registering an IBC company in the BVI?
We highlight some of the key general requirements below:
- The company’s minimum share capital is USD 1;
- The standard structure authorises up to 50,000 shares (the threshold for the lowest government fee band)
- The BVI International Business Company must have a registered office in the Islands.
Although not mandatory, a company secretary can be appointed to facilitate business operations.
The video below highlights the process of BVI company incorporation:
What documents must I prepare for starting a company in the BVI?
When you open a BVI company with the help of our team, we will require the following set of documents (applicable in the case of individual shareholders, directors, and beneficial owners):
- A certified passport copy;
- Proof of address (no older than three months);
- Bank reference letter (also no older than three months);
- A signed resume, as proof of relevant qualifications;
- A statement concerning the source of the funds for company formation.
What are the general requirements for company names?
Investors should be aware of several name requirements when they open an International Business Company in the British Virgin Islands. We summarize some of the most important provisions below:
- The name of the IBC must end with a predetermined abbreviation, such as Limited or Corporation;
- Companies can use restricted words such as “fund”, “insurance”, “royal”, “trust”, or “bank” in their name only with the relevant licence or the Registrar’s consent.
How fast can I open a company in the British Virgin Islands?
The approximate timeframe for company formation in the BVI is 2 weeks, provided that our clients submit all the required documents.
How much does it cost to set up a company in the BVI?
Our company formation packages in the British Virgin Islands have a starting price of $2,750.
Are there special requirements for certain BVI companies?
Yes. Companies observe the Economic Substance Requirement if their activities fall under one of the relevant activities. Examples include:
- Banking and insurance;
- Fund management;
- Finance and leasing;
- Holding (pure equity holding entities);
- Shipping and intellectual property businesses, as well as other activities.
Legal entities that carry out these activities in the BVI and receive income from these activities are subject to requirements concerning their management and control, maintaining an adequate number of employees, and ensuring adequate premises for their activities, among other requirements.
You can contact our local company incorporation agents if you want to open an offshore company in the BVI.