British Virgin Islands (BVI)
The BVI is an international financial center mainly known as the biggest offshore jurisdiction for company formations boasting over 450.000 active companies on its Register.
As a British Overseas Territory, the BVI provides structures formed in the jurisdiction the stability and security that is associated with the United Kingdom. However, it should be noted that the BVI is self-governed by a democratically elected House of Assembly.
Traditional clients favour the BVI as it provides them with competitive advantages such as:
- Efficient company formation;
- Modern legislation adapted to current market trends;
- Well know and established Trust legislation and structures;
- Innovative Investment Fund types and Investment Management structures and legislation;
- Constant political and economic stability;
- US Dollar is the official currency of the BVI;
- No currency exchange controls;
- No secrecy laws;
- The legal and judicial systems are based on English Common Law, with the final right of appeal to the Privy Council in London;
- Renowned and respected commercial court;
- Tax neutrality;
- Leading global law and accountancy firms have physical presence in the BVI added to highly experienced and qualified professionals also present in the jurisdiction help keep the BVI at the forefront of the offshore industry;
- Government and service provider fees are lower and competitive to those of other onshore, mid-shore and offshore jurisdictions.
More information on the BVI
The BVI has an Established Business Company model renowned internationally. Thanks to the BVI’s Electronic filing system (known as VIRRGIN), incorporation and post-incorporation services filed with the Registry of Corporate Affairs result in faster, efficient and accurate turnaround of documents providing a huge advantage to clients of the BVI.
The BVI is at the forefront of innovative legislation following current market trends, resulting in innovative laws which are compatible with the global economic environment.
Such Legislation, includes:
- BVI Business Company Act (2004);
- BVI Limited Partnership Act (2017);
- Securities Investment Business Act “SIBA” (2010);
- Insolvency Act (2003);
- The Virgin Islands Special Trusts Act “VISTA” (2003).
Tax Information Exchange Agreements (TIEAs)
The BVI has concluded TIEAs with at least 28 jurisdictions. Moreover, with the extension of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, the BVI is able to exchange information, upon a reasonable request, with more than 76 jurisdictions.
In addition to the above, the BVI has an IGA in place with the US Government for FATCA purposes and was amongst the first countries to commit to the standard of automatic exchange of information developed by the OECD known as the Common Reporting Standards or CRS.
Trust, Estate and Succession Planning
The BVI is regarded as one of the premier Trust jurisdictions, as it caters to individuals, families, charities, corporate entities offering different solutions of different needs.
BVI Trusts are based on English Trust law, generally have low operative costs and benefit from flexible and innovative legislation.
Further, Trusts are not required to be registered in the BVI and are not required to do any filings.
Our range of Trust services include:
- Establishment and administration of Trusts;
- Protector Services;
- Preparation and maintenance of Trust accounts;
- Establishment of Private Trust Companies.
The BVI offers different types of Investment Funds (namely Private, Professional and Public Funds) and the recent Incubator and Approved Funds which gives Fund Managers flexibility to setup different types of Funds and legal structures depending on their requirements and level of expertise. In addition to the Investment Funds, clients can also set-up Investment Management or Advisory companies fully licensed under SIBA or lightly regulated in the case of the BVI Approved Managers.
BVI Investment Funds are not subject to any taxation, exchange controls and can invest in any strategy permitted by law.
Overview of services
Our BVI office has been providing services to our clients since 1982. Such services include:
- Company formation;
- Provisions of Registered Agent and Registered Office to companies and limited partnerships;
- Fiduciary services such as the provision of Individual and Corporate Directors, Secretarial, Trustee, Protector, Nominee Shareholder;
- Trust, Estate and Succession Planning (see brochure, click here);
- Investment Funds and Investment Business (see brochure, click here);
- Ship and Aircraft Registration;
- Legal services (for more information visit amslaw.com);
- Banking services (we can assist with opening of bank accounts).
- Auxiliary services (we can assist clients with accounting and legal services).
More information on key characteristics of a BVI company can be found here
AMS Trustees Limited
Sea Meadow House, PO Box 116, Road Town, Tortola
British Virgin Islands
Tel: +1 284 494 3399