The British Virgin Islands

The BVI is the world's biggest incorporator of offshore companies called IBC's (International Business Corporations) . This is due to several factors:

• IBC's are extremely flexible vehicles and can carry out most businesses without the need for a license. The cost of incorporation of an IBC and its annual running costs are very low.
• It is very difficult to establish the identity of the real owner of an IBC, offshore company. There is no requirement to file any information with the authorities.
• There are no requirements to prepare annual financial statements or audit accounts.
• IBC companies do not pay any Corporation, capital gains, or inheritance taxes
  

Famous residents and users of the BVI include, Sir Richard Branson (founder of the Virgin Group), Peter Jennings (USA news reporter) and Morgan Freeman (American Academy award winning actor). The BVI is host to many investment companies, many of the owners being famous entrepreneurs

Advantages
Low formation and running costs, zero taxes for non-BVI residents, secrecy laws, no requirement to file accounts with authorities.

Disadvantages
Can be difficult to open bank accounts or to obtain lending facilities. Perceived as low status jurisdiction.

Popular Uses
As a confidential multi-purpose holding vehicle. For single transaction use and liquidation.

For  free advice about BVI IBC's, please contact us.

See our Prices for forming a BVI Company

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