Advantages of creating a company in the British Virgin Islands
The process required to register in the British Virgin Islands
Information required to register a British Virgin Islands company
- Shareholder/Director identification: Provide a valid colour scan of passport and proof of address (e.g. utility bill or bank statement) in English within the last 3 months, which does not need to be notarized but must be legible.
- Articles of Association (MEMO&ARTICLES) : The standard template can be modified to specify the registered capital (default $50,000), share structure and business scope, supporting English or Chinese and English bilingual versions.
- Application Form for Company Registration: Complete the BVI Financial Services Commission (FSC) application form with company name, director/shareholder information, registered address (which can be provided by an agent), etc.
- Compliance Declaration Document: Sign an anti-Money laundering (AML) statement, stating the source of funds and business purpose, and supplement due diligence materials if involved in sensitive industries.
Information is available upon registration
Certificate of registration
Articles of association
Company signature seal
Company shareholder certificate
Company information card
Letter of authorization of nominal director
Commercial Secretary authorization document
Fancy data box
Tax filing service
Details may vary depending on the type of company, its size and location
Zero tax declaration
BVI companies are generally exempt from taxation, but are required to file an annual Economic Substance Declaration (ESR) to confirm eligibility for tax exemption (additional compliance is required for businesses such as finance/holding).
Annual licence fee renewal
Pay the government renewal fee (starting from about US $1,100) before May 31 each year, late will incur a 10%-50% penalty, which needs to be handled through a registered agent.
Financial record filing
Although no audit is required, complete financial records (e.g. accounts, contracts) must be kept for at least 5 years in case of spot checks by the BVI Monetary Authority (FSC).
FATCA/CRS declaration
Financial institutions are required to proactively report US FATCA and global CRS tax information, and personal holding companies may involve penetrant reporting (such as account balances exceeding $250,000).
English 
Chinese