The British Virgin Islands are located in the Caribbean and they are a British territory although they are not attached to Great Britain. They are a famous tourist’s destination with a population of about 20,000 citizens. The islands receive a turnover of over 300,000 tourists per annum. Due to this reason, there is a huge customer base for the people who choose to invest in the islands.

To register a company in the BVI, some requirements must be met. The major requirements are contained in the Companies Act that is the binding law that governs the island. The major requirements include the availability of a director and a shareholder. This is a mandatory requirement and these positions must have a minimum of one individual for a company to be recognized according to the Act. However, the director could also be the shareholder. The company must present the articles and memorandum of association before they are registered. These two documents are an indicator of the seriousness of the company and how the company plans to carry out its business activities.

The directors and the shareholder could be a single individual or a corporate. This is allowed by the law. Where anonymity is sought, there is no public document that the company management is expected to present, that contains the names of the directors or the shareholders. Due to this reason, many investors give the job of opening companies to agents who carry out the entire process. The owners of the company do not have to be of the Island's domicile. The Act allows anyone to invest in the Island. In line with this, if you register an international company, there is a clause of the Act that states that such a company is tax exempt for an operational period of twenty years. Due to this reason, the BVI has seen the investment of many companies that are attracted by the attractive and favorable regulations of business in the BVI.

The issuance of shares in a BVI company can be issued without stating a par value. However, to prove that the shareholder is genuine, some shares must be offered and the share capital for a BVI company must be equal to $50,000 in US Currency. However, the issuance of shares can be done in whichever currency the company deems fit. The minimum issued and paid up capital could be an equivalent of one share as far as the share capital is evident in the share certificate. Although it is advisable for a company to maintain financial records for tax purposes, the BVI government does not require the company management to produce statements of accounts at the end of financial periods. Neither is a company required to have a secretary. The meetings of directors and the maintenance of the books of accounts is also left solely to the company discretion and these actions might be done overseas.

All that is required of the company is to have considerable operations in the BVI and to meet the necessary requirements.

For fees and additional information about the BVI Company Formation and how to register your company in the BVI, please visit this page, BVI Company Formation