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British Virgin Islands

804

Capital: Road Town
Population: 26,000
Currency: US dollar
President: William Boyd McCleary

Tax 

Persona income tax: No tax
Corporate income tax: No income (profit) tax. Payroll tax — resident companies: 10% or 14% (employees: 8% fixed employers: 2% or 6% depending on business size). Non-resident companies: same as resident, on BVI-based employees only.
Exchange restrrictions: No
Tax treaties: Japan, United Kingdom, Switzerland

Share capital

Permitted currencies: All currencies permitted. Official currency: US Dollar.
Minimum authorised capital: No minimum.
Minimum share issue: One share.

Type oа entity

Shelf companies: BVI Business Companies Limited Partnerships, Segregated Portfolio Companies, Restricted Purpose Companies, Companies Limited by shares and/or guarantee.
Timescale for new entities: 24 hours (BVI Business Companies, LPs).
Incorporation fees: depending on share capital structure (number and type of shares authorised for issue);
Annual fees: depending on share capital strucrure and of the share certificates issued;

Directors

Minimum number: One
Residency requirements: None
Corporate directors: Yes
Meetings/frequency: As directors determine.

Shareholders

Disclosure:  No
Bearer shares:  Yes
Minimum number:  One.
Public share registry:  No.
Meetings/ frequency:  As directors or shareholders determine.

Accounts

Annual return:  No
Audit requirements:  No

Other

Registered office:  Yes, must be in BVI as must be the Registered Agent.
Domicile issues:  Re-domiciliation to and from BVI allowed under BVI law.
Company naming restrictions: Restricted words such as ‘Banking’, ‘Insurance’, ‘Fund’, ‘Trustee’ will not be allowed without relevant licence.


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