BVI Company formation
The BVI Company formation process is simple and easy. It takes just a day or two to register your BVI Company.
If, however, you are in a hurry and need your BVI Company immediately, then you may choose one from our list of available shelf companies. By doing so, your BVI Company may be up and running, and ready to do business, in as little as 24 hours.
Why choose Meridian Trust for your BVI company formation?
People on the spot: Not only do we act as your BVI company formation agents, but we also advise how to set up your BVI company using an efficient company structure.
Ethical: Unlike unqualified company formation agents, our lawyers and tax professionals subscribe to the codes of conduct and ethics imposed by their various governing bodies.
On-going support: Once your BVI Company has been formed, we are still here to assist and ensure that you continue to extract the maximum value from your BVI Company.
Understanding: Our international clientele includes financial advisors, law firms, business consultants and tax advisors, so we know exactly what you expect of us.
A free initial consultation: Please call us on +357 24812050 or send us an email. We look forward to talking to you.
General advantages of the British Virgin Islands
These are some of the general advantages of the British Virgin Islands over many other offshore financial centres:
- US dollar is the official currency in the BVI - therefore, by definition, there can be no currency controls and no artificial manipulation of money supply by the local government.
- BVI are a British Overseas Territory, which provides for an outstanding political stability. The country also maintains a low international profile and a clean reputation, thus avoiding the pitfalls experienced by some more publicised and less scrupulous offshore tax havens.
- BVI has an independent judicial system based on English Common Law. Laws and regulations are routinely developed in consultation with the private sector. Offshore financial services sector contributes a very significant part to the country's gross domestic product. Therefore, an inherent and pronounced interest exists both with the government and with the general public to maintain and develop the country's status as a competitive offshore financial centre.
- BVI is a British Overseas Territory with a fairly high standard of living. Client confidentiality is protected by law, subject to applicable disclosure requirements and international information-sharing obligations.
- BVI is easily accessible by sea and air, has modern telecommunications and uses Atlantic Standard Time (UTC−4) throughout the year.
The Most Important Characteristics of a BVI BC in Detail
Exemption from tax
A BVI Business Company is exempt from the BVI income tax, the same exemption applies to all dividends, interest, rents, royalties, compensations and other amounts paid by a company, and all capital gains realised with respect to any shares, debt obligations or other securities of the company. No estate, inheritance, succession or gift tax is payable with respect to any shares, debt obligations or other securities of a BVI BC. All transactions and instruments relating to transfers of any type of property of assets, shares, debt obligations or securities to or by a BVI BC are exempt from the stamp duty, with a sole exception for land-ownership transactions in the British Virgin Islands, in which case stamp duty remains payable.
Legal personality
A British Virgin Islands Business Company has separate legal personality and the same powers as a natural person.
Confidentiality
BVI Business Companies must maintain and file information on their directors, shareholders and beneficial owners in accordance with applicable law. Access to this information is subject to statutory rules, including access by competent authorities and other eligible applicants.
Structural flexibility
A BVI Business Company requires a minimum of only one owner, one shareholder, and one director. All of them can be one and the same person. Apart from the director, the company need not appoint any operating officers. The management structure of the BVI Business Company may be designed in accordance with the widest variety of requirements.
The shareholders, directors and officers of a BVI Business Company may be individuals or corporations and of any nationality. The shareholder's or director's meetings need not be held in the British Virgin Islands and there is no requirement for an Annual General Meeting.
Meetings can be held by telephone or other electronic means; alternatively, directors as well as shareholders may vote by proxy.
Where a Business Company has only one member who is an individual and that member is also the sole director, such sole member / director may specifically appoint a reserve director to act in his place in the event of his death.
Provisions against confiscation
If a foreign Government or authority seizes Company shares, or any other interest in the Company in connection with nationalization, expropriation, confiscatory tax, other governmental charge or with a similar cause the Company or a shareholder may apply to the BVI court for an order that the Company disregard the seizure and continue to treat the person from whom the shares were seized as continuing to hold the shares.
Accounting records and reporting
BVI Business Companies must keep records sufficient to show and explain their transactions and determine their financial position with reasonable accuracy. Unless exempt, companies must also submit an annual financial return to their registered agent within nine months of the end of their financial year.
Bearer shares
BVI Business Companies may no longer issue bearer shares. Existing bearer shares that were not redeemed or converted before 1 July 2023 were deemed converted into registered shares on that date.