British Virgin Islands IBC: BVI Company Incorporation

BVI Companies: Companies Formation in the British Virgin Islands

The British Virgin Islands or BVI, a world-renowned tourist site located in the Carribean, is also one of the most popular choices for the formation of offshore companies. Since 1984 when the International Business Companies Act was adopted almost 300 000 offshore IBCs in BVI have been incorporated.

Our firm provides a wide range of services covering all sectors of financial and business advisory. The goal of our firm is to provide a high quality of professional and personal service based on our experience for both Local and International Business Companies in the British Virgin Islands.

The main reasons for BVI Company formation are as follows:

• Maximum security of assets includes the ability to transfer domicile
• The directors may protect the assets of the IBC for the benefit of the IBC, its creditors and its members by transferring its assets to another company, trust, foundation, association or partnership; and merge or consolidate with any other company or foreign corporation in another accommodating jurisdiction.
• International Business Companies are exempt from all local taxes and stamp duty
• Maximum, confidentiality and anonymity are provided by BVI bearer shares being available by the absence of any requirements to file any organizational or accountancy information with the Registrar of Companies, (other than the memorandum of Articles of Association), and by share registers being available for inspection only by company registered shareholders or by order of the BVI court.

The BVI IBC has got the leading status in the offshore services industry since the adoption of the British Virgin Islands International Business Companies Ordinance in 1984. Now BVI is the most popular tax haven, with more than 600,000 incorporated companies and more than 5000 new companies registered monthly. The British Virgin Islands have so high reputation as an offshore corporate domicile that in some regions International Business Companies are called simply BVI's.

On January 1, 2005, a new version of the BVI Business Companies Act was adopted, implementing further improvements in the BVI offshore corporate legislation which is already considered to be excellent. The new law adequately faces some kinds of pressure faced by the offshore financial industry in the last years, especially that concerning “illegal discrimination” between domestic and offshore companies. The new BVI Business Companies Act removes any distinctions between the companies operating in the domestic market and companies restricted only to international business, and joins them into one unified type of company – a BVI Business Company. This new corporate structure preserves all the benefits provided by the previous legislation, including exemption from taxes.

Advantages of Offshore Company Formation in BVI:

• BVI offshore company formation is affordable and prompt
• Income derived outside of BVI is not taxed
• Government does not control BVI corporation activities
• BVI corporation can be managed from any place of the world
• Bearer shares may be issued at owner's option
• No paid - in capital required to incorporate offshore IBC in BVI
• No limitation on companies lawful activities
• Politically stable
• Excellent communications
• Shelf companies available
• Reserved company names available
• Fast incorporation service
• No exchange control
• No disclosures necessary
• Legal system based on UK common law
• No requirement to show registered office on letterheads
• IBC's not subject to taxation if no activity in the BVI

Coddan can incorporate offshore companies in the British Virgin Islands (BVI), either formed to order with the client's choice of name or can supply from a shelf list. Full packages include nominee directors, registered office and agent and all government fees.

Coddan CPM Ltd offers a wide range of incorporation services in the British Virgin Islands, including Ready-Made companies, Private Limited Company formation, Public Limited Company formation, Trust Set-up and others. We incorporate all our companies electronically. Please visit our Services chapter to get a complete list of business services in the BVI. You can also check out the Solutions page.

About British Virgin Islands

The British Virgin Islands are located in the West Indies and are approximately 60 miles east of Puerto Rico. The British Virgin Islands are a British Crown Colony and are therefore very stable politically. The Queen of England is the Head-Of-State of the British Virgin Islands. She is represented by an appointed Governor. Britain is responsible for the islands defense, internal security and external affairs. The Islands' Governor is appointed in London and presides over the Executive Council which consists of an elected chief minister, his attorney general and three other ministers. The islands are largely self governing with a 12 member legislative council. The official currency is the United States Dollar.

Types of Company: Resident and Non-Resident companies, the most important is the International Business Company (IBC). The IBC has no liability to tax of any kind in the British Virgin Islands. BVI Business Companies are exempt from the BVI income tax, from tax on dividends, interest, royalties, compensations and other amounts paid by a company; also they are exempt from all the capital gains, estate, inheritance, succession or gift tax with respect to any shares, debt obligations or other securities of the BVI IBC's. The companies are exempt from any kind of stamp duties relating in any way to its assets or activities, with an exception for land-ownership transactions in the BVI. The British Virgin Islands are a party to two double taxation treaties, with Japan and Switzerland, which the United Kingdom entered into many years ago.

The British Virgin Islands economy is primarily dependant on Tourism and financial services. Tourism revolves around diving, yachting and cruise tourism. Increasingly Asian, Middle Eastern and Eastern European companies are being drawn to the British Virgin Islands for its high quality Financial Services sector and particularly its Offshore International Business Companies. British Virgin Islands off-shore companies or British Virgin Islands IBC's have the flexibility to re-domicile out of the British Virgin Islands. Take advantage of this popular and extensively used form of company with a flexible structure to suit your everyday need.

Our experienced and reputable company offers International Business Companies incorporated in the British Virgin Islands the most popular offshore jurisdiction with stable and very friendly business environment. A BVI Company is a premier choice for asset protection and financial privacy.

Please contact us for more information. If you have any queries, please call us during business hours and speak to one of our highly trained incorporation specialists. You can call us by phone 800-081-1510 or + 44 (0) 207.935.5171, or make an initial consultation request.