The BVI is a British Dependent Territory which became self-governing in 1967 and is a member of the British Commonwealth. Since introducing its International Business Company (IBC) legislation in 1984, the BVI offshore financial service sector has expanded rapidly. In 2004, the IBC Act was replaced by the Business Companies (BC) Act and further enhanced the jurisdiction’s population.
Governing corporate legislation: The BVI Financial Service Commission is the governing authority in the British Virgin Islands and companies are regulated under the Business Companies Act 2004. The legal system is Common Law.
Type of Company/Corporation
The British Virgin Islands is the most popular offshore jurisdiction with favourable business regulations, a prosperous economy and stable political situation. It is known as a stable jurisdiction with a very good reputation.
One IBC Limited provide Incorporation service in BVI with the type Business Company (BC).
A BVI BC cannot trade within the British Virgin Islands or own real estate there. BCs cannot conduct the business of banking, insurance, fund or trust management, collective investment schemes, investment advice, or any other banking or insurance industry-related activity (without an appropriate license or government permission). Moreover, a BVI BC cannot offer its shares for sale to the public.
Company Name Restriction
Any name in a language other than English must be translated to ensure that the name is not restricted. A BVI BC’s name must end with a word, phrase or abbreviation that indicates Limited Liability, such as "Limited", "Ltd.", "Société Anonyme", "S.A.", "Corporation", "Corp.”, or any relevant abbreviation. Restricted names include those suggesting the patronage of the Royal Family or the Government of the BVI such as, "Imperial", "Royal", "Republic", "Commonwealth", or "Government". Other restrictions are placed on names that have already been incorporated or names that are similar to those that have been incorporated to avoid confusion.
Company Information privacy
Details information of the Directors and Shareholders are not on public record. Your company's Register of Shareholders, Register of Directors and all Minutes & Resolutions are only kept at the Registered Office with complete confidentiality.
The Memorandum and Articles of Association of your company are the only documents held on public record in the BVI. These do not include any indication of the actual shareholders or directors of the company.