British Virgin Islands or BVI (as that are colloquially known) offshore companies are granted a tax free exemption status on all profits, capital gains and transfers for 20 years from the date of their incorporation.
Registering a BVI offshore company requires at least one director who can also be the sole subscriber. This person can be an individual or another corporation.
With extremely flexible share capital, public record keeping and disclosure requirements, the administrator of an offshore company set-up in the British Virgin Islands can be simple and require very few resources.
The BVI is classed as an overseas British territory and enjoys one of the highest per person incomes in the region, produced by its buoyant local economic climate.
Seen as one of the most secure destinations in which to incorporate an offshore company, the British Virgin Islands is an ever-popular location for persons or companies wishing to enjoy complete tax exemption.
Trading restrictions are similar to those that exist for other offshore jurisdictions; that is, that no commercial activities can be entered in to with local residents or companies.
Again, this prohibition would have no or very little effect on most International Business Corporations who would conduct their business in other regions of the world.
Back to our Offshore Company Formations features page.