The International Business Companies Act of 1984 provides for the incorporation and administration of the International Business Company. Companies incorporated under the Ordinance enjoy a complete exemption from income tax. This includes an exemption from capital gains tax, and all forms of withholding tax. There is no exchange control.

We have shelf International Business Companies immediately available from each of its offices. Alternatively, an International Business Company can be incorporated upon receipt of completed questionnaire.

The International Business Companies Ordinance of 1984 provides an environment of administrative ease and flexibility. Specifically:-There is no requirement to file annual returns or financial statements;

• There is no requirement to hold annual meetings of directors or shareholders;
  
  
• Directors and shareholders resolutions may be passed by telephone meetings or by circulating written resolutions (including facsimile copies) for signing, meetings need not be held in the British Virgin Islands;
  
  
• A company need not have British Virgin Island resident directors;
  
  
• The books and records of the company may be kept at such place as the directors determine;
  
  
• Bank accounts may be opened anywhere in the world;
  
  
• A company may finance or repurchase its own shares out of surplus. Repurchase shares may be cancelled;
  
  
• Reductions of capital can be affected by resolutions of the directors or shareholders. There is no necessity for a court order;
  
  
• There are minimal disclosure requirements and the ownership of shares and the names of directors and officers are not available on the public record;
  
  
• There are modern asset protection provisions including the ability to transfer a company to another jurisdiction.

Our fees (excluding disbursements) for formation / renewal of a British Virgin Islands company are as follows:-