| GENERAL INFORMATION |
| |
Income tax
|
|
 resident |
20% maximum |
non-resident
|
20% maximum (remittance basis) |
Trusts
|
|
| resident |
Usually 0% |
non-resident
|
Usually 0% |
Estate duty
|
No |
| Corporate tax |
|
| resident |
15% maximum |
non-resident
|
15% maximum (remittance basis) |
exempt
|
IBCsO% |
Withholding taxes
|
No |
Exchange controls
|
|
| resident |
No |
non-resident
|
No |
|
| TRUSTS |
| |
Are trusts permitted?
|
Yes |
| Perpetuity period |
100 years (or common law period) |
| Accumulation period |
Duration of trust |
| Statutory trust law |
Yes. Virgin Islands 1993 Trustee Act |
| Trust duty |
Yes, US$50 |
| Forced heirship exclusion |
Yes |
| Asset protection measures |
No |
| Trust register |
No |
| Resident trustee/s required |
No |
| Regulation of trustees |
Yes |
|
| CORPORATION LAW FACTORS |
| |
| Type of corporate vehicles |
International Business Company; Domestic Company; Limited Partnership. The following information refers to IBCs only |
| Incorporation time scale |
24 hours |
| Fees: Incorporation - Government |
$300 (if authorised share capital is $50,000 or
below), $350 (if authorised share capital is $50,000 or below and some
or all shares are of no par value), $1,000 (if authorised share capital
exceeds $50,000) |
| Other |
$ 100-$250 (varies with service provider) |
| Annual - Government |
Similar to those above |
| Other |
Varies with service provider |
| Resident directors required |
No |
| Min number of directors required: |
Minimum one, for an IBC |
| Directors meetings required |
No (only if directors determine necessary) |
| Location/Frequency |
As directors determine |
| Other requirements |
No |
| Beneficial ownership disclosure |
No |
| Shareholder disclosure |
No, not mandatory for an IBC |
| Minimum number of shareholders: |
One for an IBC |
| Bearer shares allowed |
Yes |
| No-par value shares allowed |
Yes |
| Public share register |
No, not mandatory for an IBC |
| Shareholders meetings required: |
No (only if directors or shareholders determine necessary) |
| Location/Frequency |
As directors or shareholders deterime |
| Other requirements |
No |
| Annual return required |
No, not for an IBC |
| Audit required |
No |
| Foreign currency accounting allowed |
Yes, only for IBCs |
| Registered office |
Yes, must be in BVI |
| Registered agent |
Yes |
| Stamp/capital duty |
No |
| Naming your company |
Sensitive words such as 'Banking', 'Insurance' and 'Fund' will not be allowed without relevant licence |
| Company mobility provisions/redomicility rules |
A foreign incorporated company may
continue to the BVI. An IBC may also continue from the BVI to an
outside jurisdiction, if the laws of that jurisdiction so allow |
