British Virgin Islands
Currency: US dollar
President: William Boyd McCleary
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
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;
Minimum number: One
Residency requirements: None
Corporate directors: Yes
Meetings/frequency: As directors determine.
Bearer shares: Yes
Minimum number: One.
Public share registry: No.
Meetings/ frequency: As directors or shareholders determine.
Annual return: No
Audit requirements: No
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.