British Virgin Islands offshore company

Service
£550
£999
£1299
£1399
Company formation including goverment filing fees
Registered office address for 12 months
Apostille & documents legalisation
Company seal
Courier delivery fees
Nominee shareholder for 1 year  
Nominee director for 1 year  
The Power of Attorney  
Business account at Rietumu Bank (fast-track)    
HSBC Margin FX bank account (fast-track)    
Total cost £550 £999 £1299 1399
Cost of annual service (Year 2 price onwards) £499 £749 £930 £930
Discounted rates for business bank accounts
Rietumu Banka (Latvia)
Business debit cards are issued free of charge

General Information

The British Virgin Islands is an archipelago of over 40 islands, 16 of which are inhabited. Discovered by Columbus who is said to have been so impressed by their large number that he named them "Las Virgenes" in honour of St. Ursula and her 11,000 attendant virgins they lie to the north west of the United States Virgin Islands. The neighbour with the largest land area is Puerto Rico, 96 km to the west. Except for Anegada, which is a flat reef surrounded island of coral limestone, the Islands are hilly and enoy a subtropical climate. Their greatest tourist attraction is their superb beaches.

Population

The population is approximately 23,000, the largest and most heavily populated Island is Tortola which has approximately 18,000 inhabitants. 90% of the inhabitants are of African descent, the balance being made up of European, Indian or mixed race.

The capital, Road Town, is on the southern shore near Sir Francis Drake Channel. Tortola is connected by a road bridge to Beef Island and the local airport.

Political Structure

In 1672, Britain claimed Tortola. Simultaneously, Denmark asserted her sovereignty over St. Thomas and St. John; then in 1773 Denmark purchased St. Croix from France. The Danish Islands were sold to the United States in 1917 for US$ 25 million. Relations between the United States and British Virgin Islands are good.

The British Virgin Islands are a UK overseas territory with self-government in most internal matters. Under the 1977 constitution, HM Queen Elizabeth II is represented by a governor responsible for external affairs, defence, internal security and the public service, with reserved legislative powers as necessary for the exercise of special responsibilities. On all other matters, the executive council has authority.

The executive council consists of the governor, the chief minister, the attorney-general and three other ministers appointed by the governor from the legislative council on the advice of the chief minister. The legislative council has a four year term and consists of a speaker, 13 directly elected members and the attorney-general.

Infrastructure and Economy

There is an excellent daily air service between the Islands and the USA. Cruise ships call in weekly to the Islands and there are freight carriers. The economy, one of the most prosperous in the Caribbean area, is highly dependent on the tourist industry, which generates about 21% of the national income.

In 1984, the Government offered offshore registration to companies wishing to incorporate in the Islands, by 2006 the number incorporated had exceed 750,000, incorporation in the first three quarters of 2006 exceeded 51,000 making the British Virgin Islands the leading offshore jurisdiction. The BVI is the only Caribbean jurisdiction to boast the presence of all five of the largest offshore law firms in the region and the legal profession presence in the territory continues to expand. The Finance Sector and Ship Registration now generate approximately 50% of government revenue.

Language

The official and spoken language is English.

Currency

US Dollar.

Exchange Control

None

Type of Law

Common Law, based on English Common Law with local modifications and local statutes.

Principal Corporate Legislation

The Companies Act (Cap. 285), BVI Business Companies Act, 2004 ("The BVIBC Act"). (All companies previously incorporated under the International Business Companies Act, 1984, automatically became subject to the BVIBC Act from 1st January 2007.)

BVI Business Companies (Amendment) Act, 2012.

KEY CORPORATE FEATURES
General
Type of Company BC
Type of Law Common
Shelf company availability Yes
Our time to establish a new company 2 days
Corporate Taxation Nil
Double Taxation Treaty Access No
Share capital or equivalent
Standard currency US$
Permitted currencies Any
Minimum paid up US$1
Usual authorised US$50,000
Directors
Minimum number One
Local required No
Corporate Directors Permitted Yes
Publicly accessible records No
Location of meetings Anywhere
Shareholders
Minimum number One
Publicly accessible records No
Location of meetings Anywhere
Company Secretary
Required Optional
Local or qualified No
Accounts
Requirements to prepare Yes
Audit requirements No
Requirements to file accounts No
Publicly accessible accounts No
Other
Requirement to file annual return No
Change in domicile permitted Yes
Contact telephone:
0203 929 3535
Address:
71-75
Shelton Street
Covent Garden
London
WC2H 9JQ
Email:
[email protected]
Skype: Call Now
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