Setting up a Business in the British Virgin Islands (BVI) is a popular choice for many entrepreneurs and businesses due to its favourable tax policies, efficient company structure, and attractive business environment. However, before diving into the process, it’s essential to have a clear understanding of the costs involved in establishing a BVI company. In this article, we will break down the expenses you should expect, as well as compare these costs with other jurisdictions.
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Key Summary
BVI Incorporation Fees
The incorporation fees to set up a BVI company with FastLane is USD $2,875 and $3,500 for 50,000 shares below and above respectively. Government one-off set up fees is included.
Additional Incorporation Fees
Extra costs, such as compliance fees, director and shareholder services, and office setups, can further increase the cost. These expenses vary based on the specifics of your business needs. For BVI certificate of incumbency and certificate good standing (e-copy), it is USD $320 and $350 respectively.
BVI Annual Service Fees
Total Annual maintenance fees with FastLane is from USD $1,100, including Annual Financial Return, MaintenanceAnnual Registered Office and Registered Agent Service Fee. Government annual fees are not included, please see below for the government fees.
BVI Annual Government Fees (2025 Updated)
The annual government fee for less than or more than 50,000 shares are USD $550 and USD $1,350 respectively.
BVI Transfer-In Fees
A forced transfer-in with FastLane is USD $632, and a normal transfer-in is USD $332.
Basic BVI Incorporation Fees
The incorporation fees to set up a BVI company with FastLane is USD $2,700 and $3,500 for 50,000 shares below and above respectively. Government one-off set up fee is included. The following items are included in this initial set up fee.
- Provision of Registered Office and Registered Agent in BVI
- Review of company info and due diligence documents
- Full incorporation documents (Certificate of Incorporation, Memorandum & Articles, Registers, etc.)
- Government fees and company kit set included
Additional Incorporation Fees to Consider
While the basic costs are necessary for all BVI companies, there are additional expenses you may need to account for depending on your business’s specific needs:
- Compliance and KYC (Know Your Customer) Fees: BVI companies are required to comply with strict anti-money laundering and KYC regulations. The cost for KYC services, including document verification, can range from USD 200 to USD 500.
- Director and Shareholder Fees: In some cases, you may need to appoint a director or shareholder for the company. If you are using nominee services, fees can range from USD 500 to USD 2,000, depending on the service provider.
- Virtual Office or Physical Office: While a physical office is not required, many businesses opt for virtual office services. Virtual office services typically cost between USD 300 and USD 600 per year, while physical office rentals can be significantly more.
- Bank Account Setup: Establishing a corporate bank account is an essential step in running your business. Banks often charge setup fees, which range from USD 500 to USD 1,500 depending on the bank and services required.
BVI Certificate Fees
| Service | Price |
|---|---|
| Certificate of Incumbency | US$320 |
| Certificate of Good Standing (e-copy) | US$350 |
BVI Annual Service Fees
No matter how much shares you have in your BVI company, our annual maintenance service fees ranges between USD $1,100 to $1,500. A breakdown of the fees can be seen below:
| Annual Registered Office and Registered Agent Service Fee | US$750 |
| Annual Economic Substance Reporting Fee | From US$350* |
| Annual Financial Return Maintenance | From US$350 |
*Fee ranges from USD 350-600 depending on the type of Relevant Activities and Tax Residency.
BVI Government Fees (2025 Updated)
Since 2023 January, there is a price update by the BVI government in terms of the company fees. Please see the table below on what’s changed, and the what the fees are now.
| Activity – Incorporation or annual renewal of: | Govt. Fee ($) Before 1 Jan 2023 | Govt. Fee After 1 Jan 2023 ($) |
| – A company either not authorized to issue shares or authorized to issue no more than 50,000 shares | 450 | 550 |
| – A company authorized to issue more than 50,000 shares | 1,200 | 1,350 |
| – A private trust company either not authorized to issue shares or authorized to issue no more than 50,000 shares | 1,350 | 1,500 |
| – A private trust company authorized to issue more than 50,000 shares | 2,650 | 3,000 |
| – A company as a restricted purposes company | 7,500 | 8,000 |
| Registration or annual renewal of a foreign company carrying on business in the BVI | 500 | 550 |
| Application by a company to pursue a charitable or non-commercial purpose with a name ending in “Limited”, “Corporation” or “Incorporated”; the words “Societe Anonyme” or “Sociedad Anonima”; the abbreviation “Ltd”, “Corp”, “Inc” or “S.A.” | N/A | 100 |
| Approval of this application | N/A | 200 |
| Application by a company to incorporate a company under a name or change the name of a company to another name that does not include a name ending in any of the words listed above (i.e., “Limited” etc.) | N/A | 100 |
BVI Transfer-In Fees
| Activity | Govt. Fee ($) Before 1 Jan 2023 | Govt. Fee After 1 Jan 2023 ($) |
| Transfer of shares – Stamp Duty (per transfer) | 50 | 50 |
| Registration of transfer of shares in a BVI company | 75 | 100 |
| Transfer of a foreign company into the BVI – Registration fee | 500 | 550 |
| Transfer of a foreign company into the BVI – Stamp Duty (if applicable) | Variable | Variable |
With FastLane, our forced and normal BVI transfer-in services are USD $632 and $332 respectively. This includes a one-off filing and compliance fee, and the client’s existing registered agent is responsible for handling the transfer.
Strategies for Hong Kong Companies to Reduce BVI Setup Costs
For Hong Kong-based companies, setting up a BVI company can be a strategic move, but it’s important to manage costs effectively. Here are a few strategies to help reduce your setup costs:
- Choose an Experienced Service Provider: A reputable service provider can offer package deals that include everything you need for incorporation, saving you from dealing with individual service fees. Some providers even offer discounts for bundled services.
- Minimise Nominee Services: Using nominee directors and shareholders can be an additional expense. If possible, handle these roles internally to reduce costs.
- Take Advantage of Digital Services: Many service providers offer digital document handling and virtual office options, which are more affordable than physical office setups. This can significantly lower your annual operational costs.
- Leverage Tax Benefits: BVI companies offer tax exemptions and other benefits that can reduce the overall cost of setup.
- Plan for Long-Term Savings: Some providers offer discounts for multi-year contracts. If you plan on keeping the BVI company for the long term, consider paying for multiple years in advance to save on renewal fees.
Conclusion
Setting up a BVI company involves a range of costs, from initial incorporation fees to ongoing maintenance expenses. While the BVI is generally cost-effective compared to other jurisdictions, it’s essential to account for all potential expenses to avoid surprises. By partnering with a trusted corporate service provider like FastLane Group, you can streamline the process, reduce costs, and ensure compliance with local regulations.
Ready to set up your BVI company?
If you’re ready to start the process of setting up a BVI company or need assistance with any part of the incorporation process, contact FastLane Group today. Our experienced team is here to guide you through the entire process and ensure that your business setup is seamless and cost-effective. Get Started!
