The International Business Company (IBC) is the most common type of company used by Non-Residents.

Setting up a British Virgin Island IBC – the main details:

• Only one director or shareholder is required for the company formation
• Shareholder(s) and director(s) may be the same person
• The shareholder(s) and director(s) can be a natural person or a corporate body
• There is no requirement of resident secretary
• BVI incorporation documents do not carry the name or identity of any shareholder of director. The names or identities of these persons do not appear in any public record
• Independent judicial system based on English Common Law
• Client confidentiality is protected in BVI corporate and business legislation
• The BVI has Tax treaties with EU and USA
• No taxes levied on offshore and banking transactions
• No capital gains, income or any other kind of tax
• An offshore company in the BVI is restricted from doing business with BVI residents or companies except where:
  • It makes or maintains professional contact with solicitors, barristers, accountants, bookkeepers, trust companies, management or secretarial companies, investment advisors, or other similar persons or entities carrying on business within the BVI.
  • It prepares or maintains books and records within the BVI (if it decides to keep such books and records).
  • It holds within the BVI, meetings of its directors or members (if it so desires).
  • It holds a lease on property for use as an office from which to communicate with members or where books and records of the company are prepared or maintained (if so decided).
  • It holds debt obligations, shares or other securities in British Virgin Island IBCs or any other locally incorporated company.
  • There are restrictions on BVI IBCs on carrying on any business activities outside the BVI.

For more information on setting up a business in the British Virgin Islands, contact Licensehub.in. We provide a professional and efficient service, assisting you in all aspects of the company incorporation process.