- Taxation for offshore companies: no
- Annual fee: dependent on value of share capital - from 0 to 50,000 USD: 350 USD - over 50,001 USD: 1,100 USD
- Offshore company tax statements: no
- Accounting records: no
- Annual reports: no
- Judicial system: common law
- Non-resident exchange controls: no
- Directorship: can have 1 nominated director – 1 sole director
With high levels of stability and economic prosperity for one of the most important groups of islands in the Caribbean, the British Virgin Islands are under United Kingdom rule and consist of 36 islands and islets. They have an area of 153 km² and a population of around 22,700 inhabitants.
The BVI are able to offer tax benefits. It consists of just one jurisdiction which is simple to implement, and is not expensive. However, it is not always easy to use for invoicing purposes as it gives the impression of being a tax haven. This destination is preferred within the context of international relations.
You are not obliged to maintain accounting records and do not have to submit annual accounts.
The BVI are an offshore location which is of particular interest to companies who operate in the fields of service industries, consultancy, intangible services such as counselling and other services, and which have their staff employed overseas.
This destination is also very popular for holding copyrights, licences, trademarks, and other types of levy.
Important information:
- No minimum value of share capital, no input is required.
- There is no VAT, nor any local taxes, and exchange controls are non-existent.
- The BVI also offer the facility of a nominated director who can remain anonymous in the public register (at Companies House).
- No tax for non-resident companies.
The cost:
- Incorporation: $1,700.00
- Costs for maintenance and domiciliation: $1,500.00