BVI Company Incorporation
The British Virgin Islands (“BVI”) are one of the world's most popular offshore financial centres. They are located in the Caribbean Sea (see map).
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(Road Town, on the largest island of Tortola, is the capital city of British Virgin Islands.)
From the 1st of January 2007, under the 2004 Business Companies Act of the British Virgin Islands, there is still no requirement to pay any income tax.
Requirements for forming a “BVI” Limited Company:
- Intended company name: Both English and Chinese are acceptable
- Standard authorised share capital: US$50,000 of US$1 per share
- Minimum share capital: 1 share
- Minimum shareholder: 1 person or a legal entity
- Minimum director: 1 person or a legal entity
- Company secretary: not compulsory
Advantages of a “BVI” Limited Company:
- Political and economic stability;
- Good reputation and respectability;
- No tax on income;
- No capital gain or estate taxes;
- Low setting-up cost.