The British Virgin Islands (BVI) is an English speaking country in the Caribbean, about 90 miles east of Puerto Rico. It is a British Dependent Territory, a stable and peaceful democracy, and one of the oldest and most reputable countries in the offshore services business. The form of offshore company in BVI is the International Business Company (IBC).
IBC’s are very popular and well known for their flexibility and tax free status. They are governed by the International Business Companies Act of 1984 (as amended). Note that BVI is a British Dependent Territory and therefore will be subject to the EU Savings Tax Directive. it is most suitable for non-EU/UK citizens and residents.
Offshore companies registered in BVI are tax free and there is no requirement to file annual returns or audited statements. A BVI company may do business anywhere in the world. There is no requirement for Directors and Shareholders to be residents in BVI and they may be of any nationality. There is no government record of Directors or shareholders of BVI companies. Bearer shares are no longer permitted.