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International Business Companies
I. Introduction
IV. International Business Company Restrictions:
IBCs can perform all lawful corporate activities except: a) do business with
BVI residents; b) provide registered office or agent facilities for
BVI-incorporated companies; c) own an interest in real property in BVI apart
from limited office leases.
However, an IBC may engage in all the following
activities without breaching these restrictions: a)
make deposits or maintain accounts with BVI banks; b) Make or maintain
professional contact with solicitors, barristers, accountants, bookkeepers,
trust companies, administration companies, investment advisors or other
similar persons carrying on business within the BVI; c) prepare or
maintain books and records within the BVI; d) hold meetings of its
directors or members in the BVI; e) hold a lease of property for use as
an office from which to communicate with members; f) hold shares, debt
obligations or other securities in another IBC or local BVI company.
Furthermore, licenses are required in order for a BVI IBC to undertake
the following: a) banking or trust business; b) insurance or re-insurance
business agency or brokerage; c) registered agent or company management; d) mutual
fund activities or e) mutual fund management or administration.
I. Introduction to the International Business Company
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