British Virgin Islands Offshore
Companies & Services

Why should you consider British Virgin Islands?

The British Virgin Islands are located 60 miles from Puerto Rico in the north-eastern Caribbean. They consist of more than 40 islands, 20 of which are inhabited. The main island is Tortola, where the capital Road Town is found.

The economy of BVI is based upon the twin pillars of tourism and financial services and is one of the most prosperous in the Caribbean. Tourism based on tropical weather, undersea coral reefs and beautiful beaches provides about half of the island’s income and employs most of its citizens.The official language is English and the currency is the US Dollar.

Offshore Services

We offer different offshore services for the BVI Jurisdiction.

Trusts

British Virgin Islands has long been a trusted location for off-shore financial institutions and has a large number of offshore trusts. In May of 2013 the BVI government created an innovative trust mainly based on English Trust Law, that also takes into account local regulations, called VISTA.

VISTA is a trust specifically designed to hold shares in a BVI incorporated company in which the trustee may be disengaged, notwithstanding that his trust shareholding gives him a controlling interest in the company, from management responsibility in relation to the company’s affairs. It therefore allows the company and its business to be retained and run as its directors see fit.

The effect of VISTA is to remove the trustee’s duty to monitor and intervene in the conduct of the directors and the management of the trust’s underlying BVI company. VISTA trusts may continue indefinitely and the regime can apply to discretionary trusts, fixed interest trusts and charitable or purpose trusts subject to satisfying the statutory criteria.

Types of Trusts

Fixed Interest Trust

VISTA Trust

Discretionary Trust

Accumulation and Maintenance Trust

Revocable Trust

Charitable and Non-charitable Purpose Trusts

Benefits

  • Modern trust legislation based on English trust law
  • Asset protection
  • Exempt from tax in the BVI (provided that no Beneficiaries are resident in the BVI and that the trust does not trade or conduct business or own land in the BVI)
  • Increase of investment freedom
  • No requirements for public registration of trust

International Business Corporation

subsequently replaced with the BVI Business Company Act of 2004 which came into full effect in January 2005.

The new Act removes any previous distinction between a local company (operating in the domestic market) and an offshore company (restricted only to international business). According to the new Act, there is now only one, unified type of company – a BVI Business Company, which is still exempt from tax and continues to benefit from all relevant advantages granted by the previous legislation.

BVI is cryptocurrency, fx and fintech friendly.

Benefits

  • Asset protection
  • Privacy
  • No obligation to report finances
  • Does not require minimum capital
  • Cryptocurrency recognition
  • No taxation
  • No residency or nationality requirement

Limited Liability Company

The BVI Limited Liability Company (LLC) is the most common form of BVI company. BVI is a widely respected jurisdiction and has never been on the blacklist of the FATF or OECD. One significant difference between BVI and other jurisdictions is that under Act 28(1) of the BVI Act, British Virgin Island Law allows for transactions that do not bring clear benefits to the company (such as the granting of interest free loans and guarantees). This is generally prohibited in other countries.

BVI is cryptocurrency, fx and fintech friendly.

Benefits

  • Complete foreign ownership
  • No taxation
  • Privacy
  • Cryptocurrency recognition
  • Asset protection
  • No minimum capital
  • Does not require audits or reporting

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