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Summary of Features of British Virgin Islands Company

Summary of Features of British Virgin Islands Company

General Information
Company Law Business Companies Act 2004
Type of Company Business Company (BC)
Language of Legislation and Corporate Documents English
Taxation of Foreign Profits Nil
Exchange Controls None
Length of Time to Incorporate 2 to 3 working days
Shelf Companies Available Yes
 
Corporate Names
Name Restrictions Names identical or similar, offensive words
Endings and Abbreviations Required Limited, Corporation, Incorporated, Sociedad Anonima, or its abbreviations
Length of Time to Verify Name Availability One hour
Reservation of Names Permitted Yes
Language of Name Any language using the Latin alphabet
Name of Banks, Insurance, Investment Fund, Trust Company or their equivalents requiring consent or license Yes
 
Capital and Shareholders
Minimum Number of Shareholders One
Local Shareholders Required No
Corporate Shareholders Permitted Yes
Disclosure of Shareholders No
Minimum Authorised Shares to be issued No minimum
Bearer Shares Permitted Yes
Registered Shares Permitted Yes
No Par Value Shares Permitted Yes
 
Directors and Officers
Minimum Number of Directors One
Qualifications of Directors Legal age
Officers Required No
Corporate Directors/Officers Permitted Yes
Local Directors/Officers Permitted No
Appointment of Subsequent Directors/Officers Memorandum and Articles of Association
 
Meetings
Annual General Meeting of Shareholders Required No
Annual General Meeting of Directors Required No
Location of Directors and Shareholders Meetings Anywhere
Adoption by Consent Permitted Yes
Quorum required for purposes of meetings Memorandum and Articles of Association
 
Local Requirements
Qualified Registered Office/Agent Yes/Yes
Government Register of Shareholders Optional
Government Register of Directors/Officers Optional
Government Register of Charges Optional
Register of Directors/Officers to be kept at Registered Office Yes
Company Seal Required Yes
Copy of Minutes to be kept at Registered Office Optional
Copy of Share Register to be kept at Registered Office Yes
 
Annual Requirements
Minimum Annual License Fee or Franchise Tax US$350.00
Annual License Fee or Franchise Tax Due Date May 31st and November 30th
Applicable Surcharges 10% and 50%
Requirement to File Annual Returns No
Requirement to Submit Annual Audited Accounts No
 
Other Relevant Information
Member of Apostille of the Hague Convention Yes
Increase or Reduction of Amount of shares to be issuedl By directors¡¦ resolution
Redomiciliation Prohibited No
Reinstatement at Registry Yes
Removal from Registry Compulsory or voluntary winding up and dissolution; and striking-off for non-payment.

For further information or assistance, please call us:


Hong Kong Office: +852 2341 1444
Shenzhen Office: +86 755 8268 4480
Shanghai Office: +86 21 6439 4114
Beijing Office: +86 10 6874 8420

or send email to enquiries@bycpa.com.



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 Offshore Company