International Business Companies
I. Introduction:
An International Business Company is a corporate vehicle having limited liability, which, provided it has no business activities in the British Virgin Islands, is wholly exempt from BVI tax on its income and from inheritance or estate tax on its shares. Only a nominal annual fee is payable to the Government (in most cases US$300). An IBC can have bank accounts in the BVI, deal with lawyers, accountants, trust companies and other professionals in the BVI, hold company meetings and keep its accounting books and records in the BVI without breaching this restriction. By incorporating in the BVI, a business gains a wide range of competitive advantages, including:
The IBC is a very flexible and well tried corporate vehicle suitable for a wide range of trading, investment and asset protection activities and solutions. IBCs can be formed in a day and with a minimum of formality.Exemption from all local taxes and stamp duty. Flexible and creative corporate structures for international businesses. Online name reservation and incorporation (fulfillment within 48 hours). Customized corporate certificates and document verification. No required public disclosure of company officers or shareholders. No accounting, organizational or annual general meeting requirements. Freedom to transfer assets or merge or consolidate with foreign entities. Availability of bearer shares and no minimum required capital. Option of one or more shareholder(s) or director(s); no residency requirements. Shares issued in any currency or for consideration other than cash. Access to experienced and trustworthy local industry professionals. Highly competitive government and registered agent fees and costs. II. International Business Company Uses
III. Anatomy of an International Business Company
IV. International Business Company Restrictions
V. IBC Formation and Post-Incorporation Services
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