BUSINESS COMPANIES

Type of company

BC (Business Company)

Corporate suffixes

Corporation, Corp., Incorporated, Inc., Limited, Ltd., Societe Anonyme, Sociedad Anonima, SA, S.A.

Filing of accounts/annual returns

None

Local taxation

Does not apply

Types of shares

1. Registered shares

2. Bearer shares - with certain restrictions

3. Shares of par value

4. Shares of no par value

5. Preferential (preference) shares

6. Redeemable shares

7. Shares with voting rights

8. Shares without voting rights

Multiple classes of shares are also allowed

Maximum authorized shares (for minimum fee)

50'000 shares

Standard authorized shares

50'000 shares of no par value

Minimum issued shares

One share

Minimum number of shareholders

One

Nationality/domicile of shareholders

Any, incl. BVI

Public/government register of shareholders

None

Stamp duty on transfer of shares

None

Minimum number of directors

One

Nationality/domicile of directors

Any, incl. BVI

Corporate directors

Yes

Public/government register of directors

None

Annual meetings of directors/shareholders

No particular requirements/restrictions, incl. any form of electronic communication

Company secretary

No obligation to appoint

Nationality/domicile of company secretary

Any, incl. BVI

Corporate company secretary

Yes

Types of entities

Business Company (BC)

Language of name

Any, as long as it is in standard Latin alphabet characters; Chinese

Name restrictions

1. Any name identical or similar to a company already incorporated

2. Any name that implies patronage of the BVI, or any other government

3. Any name that implies patronage of the British Royal family

4. Use of words such as Assurance, Bank, Broker, Brokerage, Building Society, Chamber of Commerce, Chartered, Cooperative, Foundation, Fund management, Government, Imperial, Insurance, Investment Fund, Municipal, Reinsurance, Republic, Royal, Savings, Trust, Trustee, Trustees, University, as well as their variations and equivalents in other languages

5. Any name that may imply that a company intends to undertake an undesirable activity, or any name that is indecent, offensive or, in the opinion of the Registrar objectionable

Restrictions in activities

1. Cannot undertake the business of banking, insurance, reinsurance, assurance, fund management, asset management (other than managing the company’s own assets)

2. Cannot provide registered office facilities in the BVI

3. Cannot advertise/promote sale of its shares to the general public

Currency of par value shares

Any