An International Business Company is a corporate vehicle having limited liability, which, provided it has no business activities in the British Virgin Islands, is wholly exempt from BVI tax on its income and from inheritance or estate tax on its shares. An IBC can have bank accounts in the BVI, deal with lawyers, accountants, trust companies and other professionals in the BVI, hold company meetings and keep its accounting books and records in the BVI without breaching this restriction.
By incorporating in the BVI, a business gains a wide range of competitive advantages, including:
- Exemption from all local taxes and stamp duty.
- Flexible and creative corporate structures for international businesses.
- Online name reservation and incorporation (fulfillment within 48 hours).
- Customized corporate certificates and document verification.
- No required public disclosure of company officers or shareholders.
- No accounting, organizational or annual general meeting requirements.
- Freedom to transfer assets or merge or consolidate with foreign entities.
- Availability of bearer shares and no minimum required capital.
- Option of one or more shareholder(s) or director(s); no residency requirements.
- Shares issued in any currency or for consideration other than cash.
- Access to experienced and trustworthy local industry professionals.
- Highly competitive government and registered agent fees and costs.
Get BVI Offshore (British Virgin Island) License
There are many different ways to effectively utilize an offshore company in order to legally establish an efficient structure for tax purposes, for international business and investment purposes, or to provide an additional layer of privacy to your business operations. In the following paragraphs, you will read about the various types of structures that can be implemented using IBCs.