No taxes on income, capital gains, nor are there gift taxes, inheritance taxes, sales taxes, or value added taxes
Leading international legal and accounting businesses have a strong presence in the BVI, which enjoys a strong international reputation in Funds and Investments, Corporate Business, Ship and Aircraft Registration, Captive Insurance and Trust and Estate Planning
Regulations and legislation are modern and continually ensuring protection of financial markets
BVI company law is regarded by international investors as being extremely sophisticated
The BVIs have never been blacklisted by FATF or the OECD
Information and details on Directors, Officers, and Shareholders are not filed with the BVI Register of Companies
The only documents that are made publicly available are the company’s Memorandum and the Articles of Association but they do not contain details related to shareholders or directors
The new BVI BC Act enables IBCs to conduct business and own real estate in the BVIs
Minimal compliance requirements
No reporting requirements
The sole Director can also be the sole shareholder
Economic substance will be mainly assessed according to the following criteria:
the relevant activity is directed and managed in the BVI;
adequate numbers of suitably qualified employees who are physically present in the BVI (whether or not employed by the relevant legal entity or by another entity and whether on temporary or long-term contracts);
adequate expenditures incurred in the BVI;
appropriate physical offices or premises in the BVI; and
where the relevant activity is the intellectual property business and requires the use of specific equipment, the equipment is located in the BVI.
All BVI Business Companies must provide information on an annual basis to enable the International Tax Authority in the BVI to assess whether a business is carrying out relevant activities and, if so, whether it is meeting the economic substance requirements.
Automatic exchange of information will be made to relevant foreign competent authorities if it is found that an entity is not complying with the economic substance requirements or conducts certain IP business or claims to be tax resident in a jurisdiction outside the BVI.
British Virgin Islands (BVI)