Search results
Results from the WOW.Com Content Network
The British Virgin Islands company law is the law that governs businesses registered in the British Virgin Islands. It is primarily codified through the BVI Business Companies Act, 2004 , and to a lesser extent by the Insolvency Act, 2003 and by the Securities and Investment Business Act, 2010.
Bearer share certificate. The first and most important condition for the issue of bearer shares is the fact that this right should be provided by the legislation of the country of registration for this type of company. In addition, the right to issue certificates of shares to the bearer must be fixed in the company's constituent documents.
The intention of the legislation was to eventually consolidate all British Virgin Islands company law into a single statute. Prior to the BVI Business Companies Act coming into force, it was possible to incorporate a company under two different statutes: the International Business Companies Act (Cap 291) and the Companies Act (Cap 285).
The Act was passed in a partial response to the cancellation by the U.S. government of a double taxation relief treaty between the British Virgin Islands and the United States. The British Virgin Islands was not alone in this regard; this was part of a policy of mass-repeal by the United States of double tax relief treaties with "microstates".
(i) Restricts the right to transfer its shares; (ii) Limits the number of its members to fifty; and; (iii) Prohibits any invitation to the public to subscribe for shares or debentures of the company. A private limited company is required to use the words "(Private) Limited" as the last words of its name.
This is a list of official business registers around the world. [1] [2]There are many types of official business registers, usually maintained for various purposes by a state authority, such as a government agency, or a court of law.
The BVI Financial Services Commission is an autonomous regulatory authority responsible for the regulation, supervision and inspection of all the British Virgin Islands financial services including insurance, banking, trustee business, company management, mutual funds business, the registration of companies, limited partnerships and intellectual property.
Characteristics of an IBC vary by jurisdiction, but will usually include: Chart of an offshore company structure. exemption from local corporate taxation and stamp duty, provided that the company engages in no local business (annual agent's fees and company registration taxes are still payable, which are normally a few hundred U.S. dollars per year)