Although tourism is a main economic source, the fees generated from the incorporation of offshore business have now become a major source of revenue for the offshore BVI economy. With the improved confidentiality clauses put into place almost 15 years ago, BVI is now seeing almost half a million companies incorporated each year.

Tax holidays of up to 20 years are available to foreign British Virgin Islands bank investors under a variety of circumstances, if the BVI government deems the purpose of the investment to be of special value to the economy, infrastructure, employment or other factors.

All companies wishing to incorporate as an IBC in BVI must submit a Register of Directors within 30 days of incorporation, and update as needed with the proper BVI authorities.

Other incorporation facts for BVI offshore companies:

• Minimum of one director and one shareholder for BVI incorporation
• None of the board, shareholders or company officers need to be BVI citizens
• No minimum capital needed to form a BVI corporation
• Registered and bearer shares are accepted
• Audit is necessary only in the case of BVI companies choosing to not keep company books
• Board and shareholder meetings can be held anywhere worldwide, or via conference call
• The Memorandum and Articles of Association are available to the public; all else remains confidential
• Exemption from BVI taxes

BVI offshore trust laws are based on English trust laws. The duration is 100 years. Purpose trusts are allowed. BVI incorporated trusts do not have to register with the government, file any returns or present any annual reporting. Any trust that operates exclusively outside of BVI is tax exempt. Trust duties are USD$50.

With Offshore Banking International, a BVI company registration provides a seamless transition for your business into the world of offshore financial freedom. We work with you, step by step, on creating a customized BVI offshore company plan that makes sense for your company today and for the future.

The basic components of forming British Virgin Islands companies are as follows:

• Articles of Association or Incorporation
• Parties involved (Board of Directors, President, Vice President, Secretary, Treasurer, and upper management positions)
• Authorized Capital, Subscribed Capital; Paid Capital

Additional British Virgin Islands company services available from Offshore Banking International include:

• Corporate Seal (required)
• Opening of BVI Bank Accounts
• British Virgin Islands Incorporation
• Power of Attorney
• Certificate of Good Standing
• Notarization per document or set
• Apostle per document or set
• Nominee Director
• Nominee Shareholder
• Virtual office
• Domain name registration
• Website design

A BVI IBC is extremely flexible and can accommodate practically any current financial circumstance or future goal for your new BVI company. In addition, British Virgin Islands banking can open up a world of possibilities for your investments. We work closely with British Virgin Islands banks to ensure that you have a financial plan that allows you to grow your wealth.

If you're looking to learn more about how a BVI company formation can help your bottom line or how a BVI bank account can assist you in your financial goals, please do not hesitate to contact us today. We're happy to give you sound advice and also choose the offshore jurisdiction that is right for you.