British Virgin Island (BVI) is situated in the Atlantic Ocean and only 96 km east of Puerto Rico with a population of 25,000. It is the leading offshore jurisdiction with over 750,000 offshore companies incorporated since 1984.
Company Setup Requirements for British Virgin Island
- Minimum 1 Shareholder + 1 Resident Director
Note: Shareholder(s), director(s) and Corporate Secretary can be the same individual person or a corporate entity.
Features of BVI Offshore Companies
- No minimum capital required.
- Income is exempted from local tax.
- No capital gains or withholding tax.
- No annual reporting or auditing is required.
- Offshore companies cannot engage in business in BVI.
Snapshot Of BVI
- Currency: US dollars
- Time zone: GMT minus 4
- Language: English
- Population: approximately 25,000