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The British Virgin Islands Companies Registry (part of the Registry of Corporate Affairs). The BVI Business Companies Act (No 16 of 2004) is the principal statute of the British Virgin Islands relating to British Virgin Islands company law, regulating both offshore companies and local companies.
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.
In 2000, KPMG were commissioned by the British Government to produce a report on the offshore financial industry generally, and the report indicated that approximately 45% of the offshore companies in the world were formed in the British Virgin Islands, [7] making the British Virgin Islands one of the world's leading offshore financial centres ...
The British Virgin Islands Companies Registry. The term "offshore company" or "offshore corporation" is used in at least two distinct and different ways. An offshore company may be a reference to: a company, group or sometimes a division thereof, which engages in offshoring business processes. [1]
The Territory is also the second largest domicile for formation of offshore investment funds (behind the Cayman Islands) with 2,422 licensed open-ended funds as at 30 June 2012 [23] (there is no official statistics for closed-ended funds which are not regulated in the British Virgin Islands). The British Virgin Islands also operates as a ...
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) preservation of confidentiality of the beneficial owner of the company
The British Virgin Islands has sworn in a new leader, replacing former premier Andrew Fahie who was arrested in the US on drug-smuggling charges last month.
British Virgin Islands contract law is almost entirely based upon English common law. [19] The British Virgin Islands has no equivalent of the Contracts (Rights of Third Parties) Act 1999, and applies strict privity of contract. Similarly there is no equivalent to the Unfair Contract Terms Act 1977 in the territory.
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