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Main Characteristics

Updated time: 08 Jan 2019 , 17:45 (UTC+08:00)

Main Characteristics

All BCs located in BVI are required to establish and maintain a Register of Directors, and must appoint their first director within 30 days of incorporation. Other statutory requirements remain minimal and flexible:

  • Only one director and one shareholder are required;
  • Shareholders, directors and officers need not be resident in the BVI and there is no stipulation as to their nationality;
  • There is no minimum capital requirement; shares may be either registered or bearer (only under restricted conditions) and may be issued in any currency;
  • Accounts need not be kept; if they are kept there is no requirement for an audit;
  • No returns are required of shareholders, directors or officers;
  • Shareholders’ and directors’ meetings need not be held in the BVI and can be held by telephone;
  • The Memorandum and Articles of Association are the only documents to be held on the public record.
 

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