Apr 04, 2016 why i was denied entry to british virgin islands. Providing friendly, courteous and professional services. Incorporated, a law firm founded by barrister and solicitor david a. British virgin islands financial secrecy index tax justice network. The british virgin islands bvi is a british overseas territory. The british virgin islands are a selfgoverning british overseas territory, situated in the caribbean just to the east of the us virgin islands the bvis, as they are called, are a popular travel destination for sailors, fishermen, sun worshippers, and other independent travellers, albeit not for the cost conscious. The british virgin islands is one of the worlds largest offshore financial centers and a worlds leading center for company incorporation. Registered office the registered office of the company will be citco building, wickhams cay, road town, tortola, british virgin islands. This new law has replaced and superceded the previous bvi companies act cap 285 and the bvi international business companies act 1984. Law in the british virgin islands tends to be a combination of the very old and the very new.
However the great leap forward for company law in the jurisdiction occurred in 1984 with the passing of the international business companies act, 1984. Virgin islands secretary of state corporation and business. Our offices are located in east end, tortola, british virgin islands. Summary guide to the bvi business companies act, 2004 o. Already established as the leading book in this area, bermuda, british virgin islands and cayman islands company law discusses company law in these jurisdictions. Links provide access to primary documents, legal commentary, and general government information about specific jurisdictions and topics. Local laws and customs british virgin islands british. Establishing a business in the british virgin islands practical law. Bvi business companies act 2004 this is the main and the most important piece of legislation, which currently regulates the registration, status and operation of the business companies in british virgin islands.
The tax breaks are essential for businesses wishing to maintain an affordable and successful startup. Caribbean sea, 50 miles east of puerto rico surface area. What has happened to her tax system since should not be visited upon the most hardened harlot. The book provides a deep analytical view of the offshore jurisdictions legal landscape as it relates to companies, partnerships, credit and security, mutual funds. In this book the author performs a rigorous, systematic analysis of common law, contract law, property law, agency law, partnership law, trust law, and corporate statutory law using judicial rulings that prove shareholders do not own corporations, that there is no separation of ownership and control, directors are not agents of shareholders. Process service network serves legal documents in all countries of the world, including international service of process in the british virgin islands. Oneal webster is a member firm of lex mundi, the worlds. Department of motor vehicles government of the virgin islands. Introduction to bermuda introduction to the british virgin islands introduction to the cayman islands joint ventures, preference share issues and shareholder agreements security issues initial public offerings directors shareholders alterations to. Bvi corporations are not required to pay corporate taxes to the bvi government.
There are many benefits of company formation in the british virgin islands. The use of offshore vehicles for international financial transactions is flourishing and is becoming more and more popular in the asia pacific region. Why and how to form an offshore company in the british virgin. Our british virgin islands process server will handle everything for you efficiently. We provide legal advice and solutions of the highest quality to a broad client base including top financial institutions, law firms, trust companies, investment houses, corporations and individuals both internationally and locally. Bvi business companies act british virgin islands ibc. The fourth edition of this landmark work bermuda, british virgin islands and cayman islands company law is an indispensable, practical guide to the laws of these important jurisdictions. Tortola, british virgin islands lawyers and law firms.
Oneal webster lawyers in road town, british virgin islands. Find out if a company registered in the virgin islands is also registered in other states. Danielson general conditions the united states virgin islands named by columbus after st. While the editorial is independent from the commercial profiles, the profiles allow inhouse counsel to see an overview of the firms strengths, locations, key contacts, individual lawyer biographies. Harneys publishes fourth edition of authoritative bvi commercial law. Bvi corporations pay reasonable annual renewal fees.
British virgin islands law firm directory the profile section contains a list of firms that have taken out commercial profiles in the legal 500. British virgin islands business, taxation and offshore. But these corporations are nothing more than people with. Virgin islands law blog provides uptodate information on international business issues regarding real estate, tax and estate planning, corporate and employment law. The law of the british virgin islands is a combination of common law and statute, and is based heavily upon english law. Written by nationallyknown elder law practitioners, robert b. The ibc act was a curious hybrid adapted from laws elsewhere. This is particularly useful for onshore practitioners or company secretaries, providing the context within which companies can operate in a broad range of international.
Thornton smith is a fullservice law firm based in the british virgin islands that provides practical solutions for complex legal and business transactions with a suite of valueadded services to clients. As a leading offshore financial centre, the territory has extremely modern statutes dealing with company law, insolvency, banking. A guide to international business corporations ibc in the bahamas, page 4. Segregated portfolio companies regulations, 2005 s. Offshore services sector contributes greatly to bvi. Virgin islands legal, judicial, and governmental sources accessible through the internet links provide access to primary documents, legal commentary, and general government information about specific jurisdictions and. Depending on your needs, we will serve your legal documents either through the hague service convention, or through our international network of private p. The gazette is the official newspaper of the government of the virgin islands. Apr 18, 2019 the british virgin islands is a british overseas territory, selfgoverened since 1967, with the queen appointing a governor responsible for administration of the british owned portion of the virgin islands archipelago. The british virgin islands are an englishspeaking dependent territory of the united kingdom, located in the caribbean off puerto rico. British virgin islands company law is primarily codified in the bvi business companies act, 2004, and to a lesser extent by the insolvency act, 2003 and the. Welcome to the website of the law offices of david a.
The bvi business companies 2004 as amended the act came into force on 1 january 2005 and after a two year transition period it completely replaced the international business companies act, 1984 the ibc act on 1 january 2007. The bvi is the worlds leading centre for company incorporation, with a thriving industry. Virgin islands legal, judicial, and governmental sources accessible through the internet links provide access to primary documents, legal commentary, and general government information about specific jurisdictions and topics. No corporate or income taxes there is no need to pay income or corporate tax by bvi corporations to the government of british virgin islands.
Fleming and lisa nachmias davis, the elder law answer book gathers the most current legal, regulatory, and practice guidelines from the core topics of elder law, longterm care, estate planning, retirement planning, healthcare decision making, and rights of the elderly and presents this. Virgin islands corporations allowed fewer directors. They also speak english and use a legal system derived from english common law. The bvi government is quite responsive to the needs of offshore companies and has fostered a probusiness environment. The usvi also imposes a gross receipts tax grt on every firm, corporation and other association doing business in the usvi. The british virgin islands does not have any capital gains tax, gift taxes, sales tax, value added tax, profit tax, inheritance tax or corporation tax. The documentation one must complete for incorporation are internationally known and thus easy to use when dealing with the banking system, investment.
Bermuda, british virgin islands and cayman islands company law. However, citizens of the usa and those from other countries where there. The british virgin islands is a common law jurisdiction, although british virgin islands law and procedure differs to a great degree from english law because of local statutes, orders and civil procedure rules. British virgin island corporation formation, registration. This guide to law online british virgin islands contains a selection of british virgin islander legal, juridical, and governmental sources accessible through the internet. This book will provide the reader with a general introduction to companies and company laws in bermuda, the bvi and the cayman islands with particular. Elder law answer book, 4th edition medicare and estate. However, in certain instances british virgin islands law provides that in default of any local provision, english law or procedure. The british virgin islands have modern infrastructure and good telecom systems. Introduction to bermuda introduction to the british virgin islands introduction to the cayman islands joint ventures, preference share issues and shareholder agreements security issues initial public offerings directors shareholders. The british virgin islands is a british overseas territory, selfgoverened since 1967, with the queen appointing a governor responsible for administration of the britishowned portion of the virgin islands archipelago. May 02, 2012 the british virgin islands have modern infrastructure and good telecom systems.
The british virgin islands are one of the longestestablished offshore financial centres in the world, acting as a benchmark for other offshore jurisdictions. Schools, corporations, and the war on childhood obesity is the perfect resource for postgraduate students and academics working in the public health or education field, or those taking courses on the sociology of education, health and physical education, curriculum, pedagogy, ethnography, or critical theory, who are looking to gain an insight. Bvi company registration british virgin islands information. Second, for the purposes of applying the irc to the virgin islands, a domestic corporation is a corporation incorporated in the virgin islands, while a foreign corporation is one chartered elsewhere, including the untied states. Virgin islands domestic corporations can have fewer than three directors, making it easier for smaller companies to establish themselves, the office of the lieutenant governor announced monday. A british virgin island corporation is cost effective when compared with the more traditional centers such as the bermuda, cayman, liechtenstein, luxembourg, and switzerland. British virgin islands law firm directory from the legal 500. Virgin islands by mirroring the provisions of the irc. The british virgin islands tax haven has come about through the creation of a very simple set of corporate taxation rules that offer a highly beneficial taxation system. The overall objective of the department of motor vehicles is to ensure the safety of operators, passengers and vehicles on the public roads. The company law statute, the bvi business companies act, follows. Over 40% of the worlds offshore corporations are registered in the bvi. The sector accounts on over half of the jurisdictions gdp and incorporation fees account for more than half of government revenue. Bermuda, british virgin islands and cayman islands company.