BVI Business Company Registration Services
BVI is recognised as a relatively easy jurisdiction to register companies. In addition, annual
maintenance requirements are relatively easy to adhere to. For example, There are no legal requirements
for annual meetings to be held in the BVI – they can take place anywhere in the world. In addition,
dissolving a BVI company remains easy.
BVI business and common laws fall under the oversight of the UK. However, as a recognised and
established business hub, the BVI enjoys additional freedom to set its own incorporation and corporate
tax laws.
Requirements
A BVI limited company is subject to the following requirements:
Maintain at least one (1) shareholder who may either be a person, corporation or trust
Maintain at least one (1) director. There are no residency or nationality requirements
Must have registered office address for incorporation purposes, but the position of company secretary is optional
No minimum requirement for authorized share capital
Requirements for BVI Business Company Incorporation
Director Requirements: At least one director is required, who can be of any nationality and does not need to reside locally. Directors can be individuals or corporate entities. Public records only disclose the director’s name for transparency.
Shareholder Requirements: A minimum of one shareholder is necessary, which can be a natural person or a corporate body. Shareholder records remain private and are not publicly accessible.
Company Secretary: While optional, appointing a company secretary is recommended. There are no residency or qualification requirements.
Company Name: The company name must be unique and cannot resemble existing names or imply government or Royal Family affiliation. It should include a suffix indicating limited liability, such as Limited, Corporation, Incorporated, or their abbreviations.
Registered Office: A BVI company must have a registered office within the jurisdiction, maintained at a licensed management company’s location.
BVI Business Company Registration Process
Upon receipt of all requested documents, a BVI company can be incorporated within 2-3 weeks.
Client’s Schedule
Client provides required information and document per Fastlane’s email instruction and settle the invoice
1-2 Working Days
Perform name availability search with BVI agent and determine if it is available for registration. If available, the name will be reserved
2-3 Working Days
Review of client’s documents to advise any information missing. If everything is fine, proceed compliance review, and filing of incorporation documents with the BVI Registrar of Companies upon passing of compliance review
1 Working Day
Inform client for successful incorporation and share the digital Certificate of Incorporation, filed M&A, First Directors’ Resolutions, Consent to Act as Director, Application for Share(s) and Share Certificate(s), Register of Directors (ROD), Register of Members, Register of Charges
Client’s Schedule
Client arrange First Directors’ Resolutions, Consent to Act as
Director, Application for Share(s) and Share Certificate(s) to be signed
and returned
2-3 Working Days
Arrange courier to deliver company kit to client’s office (courier fee
excluded)
BVI Incorporation Completed
BVI Business Company Fees
Incorporation of a tailor-made company with authorized shares of 50,000 or below (English name only)
- Company name search (takes 1-2 working days)
- Review of company info and due diligence documents
- Certificate of Incorporation, Memorandum and Articles of
Association, Registers, Statutory record book, Share certificates,
Company chops, Common Seal and Company kit - Initial document for filing includes Resolutions, Consent to Act,
Register of Members & Directors, Source of Funds, Location of
Records, Share certificates - Government incorporation fee, FSC register of directors registration
fee, initial document fee and company kit set inclusive - Inclusive of Register of Directors (“ROD”) first filing fee
- Including a Chinese name will incur an additional charge
According to the new BVI Business Companies Act effective on 2 January 2025, all BVI entities are required to file its register of members/beneficial owners with the BVI registry. Kindly note the following:- NEW: Register of Members filing USD50
(register must be filed within 30 days of incorporation) - NEW: Register of Beneficial Owners USD125
(register must be filed within 30 days of incorporation)
- NEW: Register of Members filing USD50
Note: Additional charge applies in the following circumstances:
- Authorized shares greater than 50,000
- Require a Chinese company name
- Over 5 entities on Director(s) or Shareholder(s) level
- Compliance monitoring fee (CMF) may be applied for entities with a higher risk profile – subject to compliance review
Fee: USD $2,875
BVI Annual Ongoing Fees
Annual Maintenance for BVI company with authorized shares 50,000 or less
- Annual Registered Office and Registered Agent Service Fee – USD785
- Annual Government Fee – USD550
- Annual Economic Substance Reporting Fee – From USD250.00 *
- Annual Financial Annual Return Maintenance – USD350
Note:
- Subject to the type of relevant activities the Company conducts, the
Annual Economic Substance Reporting Fee would be ranged
USD250-700. - Compliance monitoring fee (CMF) may be applied for entities with a
higher risk profile - Additional charge applies in the following circumstances:-
-Additional gov fee of USD800 for company with authorized shares
greater than 50,000
-Over 5 entities on Director(s) or Shareholder(s) level
Fees: USD $1,935
Documents Required for BVI Business Company Formation
- Proposed company name
- Passport and residential address proof in respect of each shareholder; if shareholder is another corporation, company documents are required
- Passport and residential address proof in respect of each director; if director is another corporation, please provide Certificate of Incorporation and registered office
- Amount of share capital, percentage of shareholdings if more than one shareholder
- Basic background information of the new company, such as the principal business activities, products to be traded or services to be provided, location of suppliers and customers, expected turnover of the first year
BVI Business Company Act Updates 2025
| Filing Requirement | Before Amendment | After Amendment |
| Register of Members | Optional | New companies and companies relocating to the BVI must comply within 30 days. Existing companies have a 6-month window from the effective date to meet the requirements. Any changes to a filed register of members must be updated within 30 days of the alteration. |
| Beneficial Ownership Information | Within 15 days | New companies and companies relocating to the BVI must comply within 30 days. Existing companies have 6 months from the Effective Date to meet the requirements. |
| Appointment of First Directors | Within 6 months of incorporation | Within 15 days of incorporation. |
| Professional Directorship Services Information (if applicable) | N/A | For new companies, compliance is required within 15 days after the appointment of the first directors. For companies continuing into the BVI, compliance is required within 15 days of their continuation date. Existing companies must comply within 6 months from the Effective Date. |
Frequently Answered Questions
How Long Does It Take to Incorporate a BVI Business Company?
The incorporation process for a BVI company is efficient, typically taking just a few days to a few weeks, depending on the completeness of the required documentation and compliance with BVI regulations. FastLane’s expertise ensures a smooth and timely process.
Do I Need to Be Physically Present in the BVI to Incorporate a Company?
No, you do not need to be physically present in the BVI to incorporate a company. FastLane can handle the entire incorporation process remotely on your behalf, from document preparation to submission, ensuring compliance with local regulations without the need for your physical presence.
What Are the Ongoing Compliance Requirements for a BVI Company?
BVI companies are required to maintain a registered office within the jurisdiction and keep records of directors, shareholders, and company activities. However, there are no requirements for annual financial statements, auditing, or local director residency, making it easier to manage ongoing compliance.
Can I Change the Directors or Shareholders of My BVI Company After Incorporation?
Yes, you can change the directors or shareholders of your BVI company at any time after incorporation. Such changes must be recorded and filed with the BVI authorities to maintain compliance, and FastLane can assist you with the necessary documentation and procedures.
What Are the Key Advantages of Incorporating a BVI Company?
Incorporating in the BVI provides several advantages, including a robust legal framework, attractive tax incentives, minimal reporting requirements, and confidentiality. The BVI’s regulatory environment supports business stability and offers a skilled workforce.
Can Foreigners Register a Company in the British Virgin Islands?
Yes, foreigners can easily register a company in the BVI. There are no residency requirements; however, a local registered agent is needed for the incorporation process.
What Documentation Is Required for BVI Company Formation?
To set up a BVI company, you need: Proof of physical address (e.g., utility bill), a professional or bank reference letter, a certified copy of a government-issued photo ID (preferably a passport), and contact details of any legal or tax advisors.
Do BVI Companies Need to Deposit Paid-Up Capital?
No, there is no minimum paid-up capital requirement for a BVI company. This flexibility allows for ease of setup without the need for substantial initial investment.
Can a BVI Company Open a Bank Account in a Different Location?
Yes, a BVI company can open bank accounts in different jurisdictions. It is common for companies to maintain bank accounts in locations separate from their registered company address.
Are Bearer Shares Allowed for BVI Companies?
No, bearer shares are not permitted for BVI companies. BVI regulations require that all shares be registered to specific shareholders to enhance transparency and compliance.
Do BVI Companies Need to Maintain Detailed Accounting Records?
While BVI companies are not required to submit detailed accounting records to local authorities, they must keep accurate financial records for internal use. Compliance with international standards and proper bookkeeping is essential for transparency.
What Types of Commercial Activities Can a BVI Company Engage In?
A BVI company can engage in a wide range of commercial activities, including trading, investment, holding assets, and providing services. The jurisdiction offers flexibility for various business operations while maintaining regulatory compliance.
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