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Accenica | offshore jurisdictions - BVI


bvi company British Virgin Islands

The British Virgin Islands is a British Crown Colony and has approximately 40 islands.

They are situated in the Caribbean about sixty miles east of Puerto Rico. The principal Island of the archipelago is Tortola, whose capital city is Road Town.

Under the 1976 constitution, the BVI are independent from the UK, except with regards to its external affairs, defense, internal security, civil services and Court administration for which the UK has kept the responsibility.

The BVI are an internationally recognised offshore centre, and also one of the oldest. Many other offshore jurisdictions based themselves on the BVI laws before developing their own corporate laws.

Main characteristics:

Company type Business Company (BC)
Governing corporate legislation The BVI Financial Service Commission is the governing authority and companies are regulated under the Business Companies Act 2004
Information published relating to company officers There is no public register of company officers
Confidentiality The BVI offers a high level of anonymity and privacy
Accounting requirement No accounting / reporting requirements
Taxation No taxes of any sort
Legislation Modern offshore legislation
Standard Currency US$
Time to form The British Virgin Islands has a fast and efficient Registry :48h formation time
Stability Stable jurisdiction with very good reputation
Communication Efficient communication means
Time zone Convenient world time zone : GMT-4
Secretary required No
Paid up capital requirement No paid up capital requirement
Basis of legal System Under Common Law
Minimum shareholders / directors Minimum of 1 Director / Shareholder
Bearer shares Bearer Shares not permitted