Main Characteristics when Register BVI business

Updated time: 08 Jan, 2019, 17:45 (UTC+08:00)

All BCs located in BVI are required to establish and maintain a Register of Directors, and must appoint their first director within 30 days of incorporation. Other statutory requirements remain minimal and flexible when register BVI business:

Only one director and one shareholder are required;
Shareholders, directors and officers need not be resident in the BVI and there is no stipulation as to their nationality;
There is no minimum capital requirement; shares may be either registered or bearer (only under restricted conditions) and may be issued in any currency;
Accounts need not be kept; if they are kept there is no requirement for an audit;
No returns are required of shareholders, directors or officers;
Shareholders’ and directors’ meetings need not be held in the BVI and can be held by telephone;
The Memorandum and Articles of Association are the only documents to be held on the public record.