INCORPORATION

BRITISH VIRGIN ISLANDS

See also: LCG-Special-Website BVI

Company Formation on British Virgin Islands, Legal and Taxation Aspects

Company Type:	BVI Business Company (BVI BC)
Name:	The company name must end in "Limited", "Corporation", "Incorporated", "Société Anonyme", etc. or the associated abbreviations, Ltd., Corp., Inc., SA, etc.
Capital:	No particular regulations regarding a minimum or maximum amount of nominal capital. Standard capital: 50,000 US$. Capital does not have to be paid up in shares.
Shares:	Companies are limited with the maximum of 50.000 shares. Registered shares and bearer shares. Bearer shares must be deposited with an authorised custodian.
Shares Index:	Yes
Registered Agent Requirement:	Yes
Registered Headquarters:	Yes
Entry in the Public Register:	BVI Registrar of Companies
Shareholders:	At least 1 shareholder
Directors:	At least 1 natural or legal person, of any nationality. Nominal directors are allowed.
Secretary (Commissary):	No
Incorporation Period:	3 days
Disclosure of Beneficial Owner:	No
Disclosure of Shareholders:	Restricted (bearer shares must be deposited).
Disclosure of Directors:	By law (IBC Act 2003 of December 31, 2004) all IBC companies are required to keep a register of directors and to nominate their first director within 30 days of forming the IBC.
Trading Restrictions:	No
Taxation:	None (applies to profits earned abroad only)
State Tax Charges:	If the company is only entitled to issue registered shares: 350 US$ - up to 50,000 shares; 350 US$ - up to 50,000 shares and/or all or part of the shares have no nominal value; 1100 US$ - over 50,000 shares; 5000 US$ - companies with trading restrictions. If the company is entitled to issue registered and bearer shares: 800 US$ - up to 50,000 shares with all bearer shares deposited on the BVI; 1100 US$ - up to 50,000 shares with all or part of the bearer shares deposited outside the BVI; 1100 US$ - over 50,000 shares with all bearer shares deposited on the BVI; 1350 US$ - over 50,000 shares with all or part of the bearer shares deposited outside the BVI.
Double Taxation Agreements:	Yes, with Switzerland and Japan, which has no influence on BVI BCs.
Financial Statements:	No
Tax Returns:	No
Accounting:	No
Annual Reports:	No

Acquisition Fees British Virgin Islands (BC)

Shelf Company or new Incorporation Included: + Registration Fees (for standard authorized capital) + Standard Memorandum and Articles of Association + Certificate of Incorporation + Two Share Certificates + Nominee Shareholder + Share Register + Corporate Seal + General Power of Attorney + Registred Agent + Registered Office + Nominee Director
TOTAL	1590,00 Euros

Annual Fees British Virgin Islands (BC)

Included: + Annual License Fees (for standard authorized capital) + Shareholder Services / Nominee Shareholder + Registered Agent + Registered Office + Directorship service / Nominee Director + Company Management Service / Offshore Service + Professional Virtual Office in Berlin or Luxembourg (including address, phone and fax numbers, personal phone call answering)
TOTAL	2080,00 Euros

LCG International offers its services and manages the companies by LCG's Lawyers or Tax Consultants.

General Information

Area:	153 sq km
Capital:	Road Town (Tortola)
GDP per capita:	25 980 US$
Unemployment Rate:	3%
Population:	20 000
Language:	English
Currency:	US Dollar
Rate of Inflation:	2,5%
Political Risks:	None
Cost of Living:	Comparable to the US
Communications:	Good
Residence Permit:	The immigration authorities reserve the right to grant residency. Pre-requisites are a secure income and preferably the purchase of a house to ease the strain on the market for rented accommodation. Self-employed and directors of offshore companies are only granted residency if they employ at least one local person.
Legal System:	Adheres to English Common Law with supplementary local regulations. The Intenational Business Companies Law has also been in force since 1984.
Exchange Control:	No
Patent Law:	British regulations apply.
Tax Information Exchange Agreement:	No