The British Virgin Islands is one of the most reputable offshore jurisdictions in the world. It is located approximately sixty miles east of Puerto Rico and two miles from St. Thomas, U.S. Virgin Islands. The two thriving sectors of the economy are tourism and offshore investment. For 25 years the Government has encouraged offshore business, and has aimed towards a world-standard regulatory structure to avoid money-laundering and other criminal activity. The BVI have also been successful in developing mutual funds and captive and major world banks make the BVI an ideal offshore financial centre.

BVI International Business Companies (IBCS) are among the most frequently used legal entities in international tax planning. Fides partners Limited is a firm with an international worldview. We recognise the growing importance of BVI companies in global commerce and we provide advice on a wide range of commercial law, with particular concentration on BVI companies. We have many years of experience working with our clients to achieve their commercial objectives in the most practical way using our expertise and commercial awareness. We always attempt to add value to our clients' enterprises. We attend to the filing requirements and maintenance of IBCs with our firm providing a full range of registered agent services. We have designed the following package to meet your requirements:

BVI International Business Companies           Our Fees £900           Renewal £750

An International Business Company is a corporate vehicle with limited liability which is wholly exempt from BVI tax on its income and from inheritance or estate tax on its shares provided it has no business activities in the British Virgin Islands. Only an annual fee is payable to the Government (in most cases US$360.00). An IBC can have bank accounts in the BVI, deal with lawyers, accountants, trust companies and other professionals in the British Virgin Islands, hold company meetings and keep its accounting books and records in the BVI.

An IBC normally takes the form of a private company limited by shares. The International Business Companies Act 1984, updated by the International Business Companies (Amendment) Act 1990 and the International Business Companies (Amendment) Act 2002 has restricted bearer shares and imposed record-keeping requirements on professional intermediaries. However the filing requirements remained minimal and flexible: only one director and one shareholder are required. Accounts need not be kept; however, if they are kept there is no requirement for an audit. No returns are needed of shareholders, directors or officers.

Key characteristics of an IBC

• No business activities with residents in the BVI.
• No ownership interest in real property in the BVI is permitted; property may be leased for office use only.
• An appropriate License is required to carry out activities such as banking or trust business. Likewise, a licence is required to carry on insurance or re-insurance business.
• The provision of company management or providing registered facilities for BVI incorporated companies is not permitted.
• IBCs are permitted to own shares in other BVI companies, maintain bank accounts in the jurisdiction and employ the services of local professionals.
• IBCs are exempt from British Virgin Islands taxes by statute.

Benefits of a BVI IBC:

For the international investor, BVI's advantages include:

1. Reasonable formation and maintenance costs and fees.
2. Quick and simple IBC incorporation procedures.
3. No requirement to disclose beneficial owners;
4. No requirement to file annual returns or financial statements;
5. No requirement to hold annual general meetings of shareholders or directors.
6. Full exemption from taxation on any business activity or transaction carried out outside BVI.
7. Complete business privacy and confidentiality
8. No minimum or maximum capital requirements.
9. BVI IBCs may engage in any lawful business in any country and may carry on transactions in whatever currencies they choose.
10. The shareholders, directors, and officers may be of any nationality and may be residents of any country.
11. Directors and/or officers can be either corporate entities or natural persons.
12. There is no requirement to register initial or ongoing changes in directors and/or officers.