|General information: The British Virgin Islands is a self-governing British Crown colony with a ministerial system of Government operating under a Constitution adopted in 1967. The Virgin Islands, often called 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, the remaining islands constitute the U.S. Virgin Islands and the Spanish Virgin Islands. The British Virgin Islands consist of the main islands of Tortola, Virgin Gorda, Anegada, and Jost Van Dyke, along with over fifty other smaller islands and cays.|
|Currency:||The United States Dollars – USD|
|Language:||The official and spoken language is English|
|Type of law:||Common Law|
|Type of Company:||Business Companies|
|Principal Corporate Legislation:||The BVI Business Companies Act 2004, as amended in 2005 and 2006|
|Uses:||Commercial and trading activities, subject to trading restrictions as below.|
|Trading Restriction:||Cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship, the rendering of investment advice or any other activity that would suggest an association with the banking or insurance industries.
Cannot trade within the British Virgin Islands or own real estate there.
Cannot offer its shares for sale to the public.
|Language of legislation and corporate documents:||English|
|Taxation:||Any Company incorporated under the new act 2004 and old Acts is not subject to taxation on its worldwide profits.|
|Annual license fee:||
|Double Tax Treaty Network:||There are Double Taxation Agreements with Japan and Switzerland, but they have no impact on BC companies.|
|Registered Agent & Office:||A registered agent must be appointed and a registered office must be maintained within the British Virgin Islands.|
|Disclosure of Beneficial Owner:||Not publicly available|
|Secretary:||Local or qualified: No restriction|
|Annual Reporting:||There is no requirement to file accounts or submit an annual return. The company needs to keep financial records reflecting their financial position at all times.|
|Shelf company:||Available on request|