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BVI company formation

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Article last update on Jan 24 2015 04:18 AM
. A minimum of one Shareholder and one Director.

. Registered and bearer shares can be issued and holders of either can convert such shares into
the other type. Bearer shares are required to be held by an approved or authorised custodian.

. Purchase and ownership by the company of its own shares is permitted.

. Statutory power is given to engage in any lawful activity.

. No public record is maintained as to the identity of Shareholders or Directors.

. Board meetings can be held anywhere in the world and can be conducted by telephone.

. Exemption from all BVI taxes and stamp duty.

. A foreign corporation can continue as a BVIBC provided the laws of the jurisdiction of original
incorporation expressly permit it to continue to another jurisdiction.

. Corporate domicile can be changed to another jurisdiction.

. Directors have power to protect the assets of the company by transferring assets to trustees,
another company or legal entity, for the benefit of the BVIBC, its Shareholders or creditors.

. User friendly corporate governance rules including limited statutory requirements governing
maintenance of corporate records and preparation of financial statements.

. Application can be made to BVI courts for an order that the BVIBC disregard the action of a
foreign government which expropriates or imposes confiscatory taxes upon the shares or other
interests in a BVIBC and to treat as members those persons whose shares or interests
are subject to the action by the foreign government.

. The Board of Directors can determine and amend, by resolution, the rights attaching to
classes of shares.

. Incorporation procedures are straightforward and can normally be completed in one to
two working days.

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