The British Virgin Islands (BVI) is a British overseas territory, located in the Caribbean to the east of Puerto Rico. The islands make up part of the Virgin Islands archipelago. BVI consist of the main islands of Tortola, Virgin Gorda, Anegada and Jost Van Dyke, along with over 50 other smaller islands and cays. Around 15 of the islands are inhabited. The largest island, Tortola, is approximately 20 km (~12 mi) long and 5 km (~3 mi) wide. The islands have a total population of about 22,000. Road Town, the capital, is situated on Tortola. One of the leading elements of the economy is offshore banking and offshore company formation.
The British Virgin Islands are among the most prosperous islands in the Caribbean, with the main source of revenue being tourism and the financial sector. With a politically stable government, a UK based system of law and English as the official language, the BVI is an attractive jurisdiction to register a company. The BVI is one of the world’s leading finance centres offering stability with a progressive and democratic society. The financial sector is responsible for just over 50% of total government revenues.
The following are the advantages someone can acquire from choosing the British Virgin Islands to start a business.
– An internationally recognised, innovative regulatory regime;
– A well-developed and professional corporate infrastructure;
– A business-friendly operating environment;
– Strong partnerships between business and government;
– Efficient company formation and administration processes;
– Enduring political and economic stability;
– An internationally renowned and respected commercial court;
– No currency controls;
– Tax-neutrality (no capital gains tax, value added tax or withholding tax, etc.);
– Efficient Incorporation and Registration, BVI Corporations can be incorporated and registered within 3 working days;
– Flexibility in company structure of an offshore British Virgin Islands Company;
– High Confidentiality, due to no sensitive personal information available on public file;
– Security of assets, i.e. the ability to protect assets from third parties, including tax authorities of your home country;
– No minimum issued share capital requirements;
– Offshore companies exemption from local taxes and stamp duties (except for registration fee and annual license/franchise);
– There is no requirement for meetings of shareholder(s) and/or director(s). Meetings if thought necessary can be held anywhere in the world;
– Directors can be individual or corporate bodies;
– No requirement to register initial or ongoing changes in Directors; registration can be made at any time; it is required to file Registers of Directors, but information about them will remain confidential;
– No requirement to file the Register of Shareholders, No requirements to file organizational or financial information with the Registrar of Companies (except for Memorandum & Articles of Association);
– Share registers are available only for registered shareholders or by order of the BVI Court;
– No requirements to file accounts or annual summaries with the Government, only the annual fee form should be completed and filed by the registered agent in the BVI;
– No place limitations for maintaining company books and records;
– Flexible post-incorporation services;
Atrium will check the name availability of the company (whether there is no company under such name already). In BVI the law requires that all financial service providers know the identity of their client so the actual contact details must be indicated at the Registry Agent. This information remains confidential.
Besides a brand-new company, Atrium also offers you the option to buy a ready-made company from the list available.