BVI is one of the most popular offshore jurisdictions.


Opening a bank account has become much easier thanks to the British authorities having the offshore excluded from the OECD and FATF blacklists.

Карта BVI

Advantages of company registration:


  • No currency control.
  • Zero taxation.
  • Company registration takes 48 hours.
  • No requirements for a minimum authorized capital.
  • No secretary required.

The British Virgin Islands (BVI) is a British Overseas Territory in the Caribbean Basin. Geographically, the islands are part of the Virgin Islands archipelago and are located in the Leeward Islands of the Lesser Antilles and part of the West Indies.


For several decades, the BVI has been considered one of the most popular offshore zones thanks to favorable legislation and extensive tax benefits for foreign companies. About 40% of all offshore companies are registered in the BVI.


From 2023, the BVI has come under the direct control of the British government. At the same time, the status of an offshore zone and a favorable tax regime have been retained.

Taxation and Reporting Requirements

Companies registered in the BVI as an IBC or BVI Business Company do not pay income tax in the BVI jurisdiction. Dividends, interest, income from the sale of assets from foreign sources are also exempt from taxation. There are no restrictions on the repatriation of profits and capital outside the BVI.

Double tax avoidance agreements have been signed with Japan and Switzerland.

  • BVI Business Companies do not pay tax on profits earned outside of the BVI.
  • Companies in the BVI are exempt from VAT, property tax, capital tax and inheritance tax.
  • There are no taxes on dividends, interest, royalties and other types of passive income received by an offshore company in the BVI from sources outside the jurisdiction.
  • The company must file an annual return within 9 months after the end of the financial year.
  • As of January 1, 2023, information about beneficial owners has become publicly available. A third party can find out the names of current directors if corresponding fees are paid.

Company Registration

Company registration timeline: 1-2 business days.

Before starting the registration process, you need to decide on the company type. The most popular form of offshore company registered in this jurisdiction is a BVI Business Company.

Liquidation specifics: A company that has been struck off the BVI register (usually for non-payment of government fees) has only 90 days to rectify the error that caused it.

  • Completed R1c company registration application form indicating the preferred company name.
  • Memorandum and Articles of Association based on standard forms. Signed by shareholders or their agents.
  • Confirmation of the registered address for the BVI Business Company within the British Virgin Islands.
  • Copies of passports or other ID documents for all company directors and shareholders. Must be notarized and translated into English.

How to Quickly Register a Company in the BVI:

To quickly register a BVI BC, contact the IT-OFFSHORE specialists. Our service fee includes:

  • Preparation of documents (collection, completion, notarization, etc.)
  • Company registration.
  • Payment of all state fees.
  • Registration agent services for 1 year with renewal option.
  • Translation services.
  • Delivery of registration documents to any address.

Opening a local bank account, accounting services, and a registered office are charged for separately.


The bottom line

The British Virgin Islands have been one of the most popular destinations for registering offshore structures for many years thanks to its liberal legislation and broad tax incentives. However, recently the jurisdiction of the BVI has been faced with the need to bring the rules in line with global trends in combating money laundering.


Therefore, before proceeding with the registration of a company in the country in question, we recommend that you seek professional advice from the legal experts of IT-OFFSHORE in order to obtain up-to-date information on the rules and requirements, as well as to ensure a successful registration process and compliance with the law.

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