Company Registration in British Virgin Islands (BVI IBC)

Suppose you’re researching or experienced in offshore company registration. In that case, you will have come across the term IBC (International Business Company), because it is the most common official term for offshore companies. One popular location for registering an IBC is the British Virgin Islands, for several reasons that we will explore in this article, along with details about our packages available to you.

While this article discusses British Virgin Islands company registration, it is not the only option. It is also possible to register an international business company in Seychelles and Nevis. You can also register a business company that will match the IBC criteria.

The British Virgin Islands (BVI) have no differentiation between local companies and international business companies. Both local companies and international businesses in the BVI enjoy the same tax advantages and high levels of privacy. Therefore, the BVI IBC can be an offshore option that resembles a regular company. It is worth noting that the only difference between an IBC in Belize or Seychelles and a BC in the BVI and Nevis is the name.

Why Choose the British Virgin Islands for Company Registration?

Company registration in the British Virgin Islands (BVI) is often chosen thanks to its flexibility, advantageous taxation, simplified accounting procedures, and personal data security. The British Virgin Islands are in a strategic location, have high credibility, offer strong protection for your wealth and assets, and provide strong opportunities.

At the same time, the British Virgin Islands (BVI) strives to meet the requirements of relevant international organizations and regulators. In particular, the country’s authorities introduced new rules to comply with EU, OECD, and FATCA requirements, thereby avoiding being blacklisted.

Here are some of the key advantages of registering a company in the British Virgin Islands:

• Tax Neutrality: No corporate income tax, capital gains tax, inheritance tax, or wealth tax.
• Confidentiality: Shareholder and beneficial owner info is filed privately, not publicly accessible.
• Fast & Cost-Effective Setup: Quick incorporation process, low maintenance costs, and straightforward compliance.
• Flexible Corporate Structure: No requirement for local directors or minimum capital; simple governance rules.
• Political & Economic Stability: British Overseas Territory with a reliable legal system based on English common law.
• Widely Accepted Entity: BVI Business Companies are globally recognized and commonly used for holding, finance, and investment structures.
• No Exchange Controls: Full freedom to move capital and profits in and out of the BVI.
• Strong Legal Infrastructure: Commercial Court and robust dispute resolution options.
• Modern Regulatory Framework: Updated laws support transparency while maintaining business advantages.

Legislation Changes

Some significant legislation changes came into force on January 1, 2019, and apply to companies that qualify for local residency and are engaged in the following business fields:

• Banking;
• Asset management;
• Insurance;
• Finance and leasing;
• Holding activities;
• Freight-traffic related activities;
• Headquarters;
• Intellectual property management;
• Distribution and service delivery.

All of these companies need to ensure economic substance. This means having an office, employees, and running the company from within the BVI.

The violation of those rules will be punishable by fines. The fact is that there are not enough offices and employees in the small country with a limited population for the hundreds of thousands of companies subject to the new rules.

There are further updates at the start of 2025 that we unpack below. In short, there have been further reporting requirements to align with legislation. That being said, BVI still has many advantages.

Changes to the Companies Act in 2025

Register of Members

• Mandatory filing: Companies must file their register of members with the BVI Registrar.
  • Pre‑2025 companies have until 2 July 2025.
  • New entities: within 30 days of incorporation/continuation.
• Update deadline: Notify changes within 30 days.
• Nominee details: Registers must show the nominator’s name, address, and relevant dates.

2. Register of Directors

• First director appointment: Now required within 15 days of incorporation (down from six months).
• Professional director filings: FSC-licensed directors (corporate or individual) must be listed in the register filed with the Registrar, including identities and addresses. A six-month transition period applies.
• Rectification mechanism: Courts can now correct the director registers.

3. Beneficial Ownership (“BO”)

• New definition & threshold: BO defined as natural persons owning/controlling≥10% of shares/voting rights or otherwise in control.
• Filing obligations:
  • Within 30 days of incorporation/continuation or any BO change.
  • Applies to existing companies by 2 July 2025.
  • Replaces the BOSS portal; filings go through ROCA via VIRRGIN.
• Exemptions:
  • Listed entities.
  • Funds with licensed local representatives are able to provide information within 24 hours.
• Registered Agent duty: Confirm filings and update within 30 days.

4. Continuation Under Foreign Law

• Directors must declare compliance with document requests, confirm no receiver is appointed, and that no pending legal proceedings exist before redomiciling overseas.

5. Certificates of Good Standing

From 2 July 2025: Certificates won’t be issued unless filings are complete.

Now contingent on up-to-date registers (members, directors, BO).

Notices of missing filings are already included.

Name of Your Business Company to Be Registered in the British Virgin Islands

When setting up a company in the BVI, it is very important to choose the right name. We will not charge you until we can issue an invoice for a business company with exactly the name you are interested in. We also reserve names for our customers when registering business companies in the BVI. Please discuss the purpose of establishing a company in the BVI and its type with our expert, as the ending of the company name is very important when starting the formation process.

The BVI limited company name must end with the words Limited, Corporation, or Incorporated. Abbreviations at the end of the name of a British Virgin Islands (BVI) limited liability company, such as Ltd, Corp, Inc, or S.A., are also allowed.

If you need to register an unlimited liability company in the British Virgin Islands (BVI), then the word Unlimited or the abbreviation Unltd should be added at the end of the company’s name.

The name of a company in the British Virgin Islands (BVI), registered for special purposes and objectives only, must end with the words (SPV) Limited or the phrase (SPV) Ltd.

If a company in the BVI is registered with a segregated portfolio, then the name of such company must end with the phrases Segregated Portfolio Company Limited; Segregated Portfolio Company Ltd; SPC Limited; SPC Ltd. Plus, if a segregated portfolio company also has limitations, and the company is registered for the implementation of certain specific tasks only, then the name must be preceded by (SPV) Limited or (SPV) Ltd.

The names of business companies in the British Virgin Islands (BVI) can also look like this: 123456 Ltd. The number will be the company registration number. Such a name may also contain various characters between the company number and the Ltd abbreviation. It is possible to name companies in such a way in the British Virgin Islands only.

We recommend consulting our experts to determine whether a classic offshore jurisdiction, such as the British Virgin Islands (BVI), could be suitable for you. Please feel free to email us at in**@***********rt.com and request a free consultation.

If you are sure you want a BVI company, here are our rates.

Package 1: BVI Company Formation

Get a straightforward BVI company package to get set up efficiently with our support. 

• Setup Cost: $3950
• Annual Renewal: $2,950
• Processing Time: Approx. 8–10 working days post-submission

Includes:

• Full company formation
• Government registration fee
• Registered agent and office for the first year

Package 2: BVI Company Formation + Apostille and Courier

Form a company in BVI with full documentation apostilled and delivered worldwide with secure courier delivery. 

• Setup Cost: $4950
• Annual Renewal: $2,950
• Processing Time: Approx. 8–10 working days post-submission

Includes:

• Full company formation
• Government registration fee
• Registered agent and office for the first year
• Apostilled certificate of incorporation and company documents (true copy scanned and certified true copy)
• Worldwide courier delivery
  

Package 3: BVI With Full Professional Service – Director + Shareholder 

Form your company with full professional shareholder and director services, for maximum protection and privacy. 

• Setup Cost: $9950
• Annual Renewal: $8950
• Processing Time: Approx. 8–10 working days post-submission

Includes:

• Full company formation
• Government registration fee
• Registered agent and office for the first year
• Professional service, with director & shareholder
• Apostilled certificate of incorporation and company documents (true copy scanned and certified true copy)
• Worldwide courier delivery

We also recommend that you order a copy of all documents with a notary’s stamp and apostille for opening foreign bank accounts.

The British Virgin Islands (BVI) is an excellent and exemplary classic offshore jurisdiction whose companies are not actually offshore. It is with these companies that employees of foreign banks, and above all Asian banks, are most familiar. Companies from the British Virgin Islands (BVI) are great for international tax planning. But if you wish to have more data security and a company separate from a European business, it would be prudent to choose another classic offshore jurisdiction. Please consider choosing Nevis in this case.

Extra Costs to Consider When Registering and Operating a Company in the British Virgin Islands (BVI)

All rates are in U.S. dollars and are charged in advance. The specified rates apply to standard services. They are subject to change based on state fees, inflation, and demand for the service.

Should you wish to launch the BVI IBC registration, you will need to do the following:

1. Consult our expert in order to understand what elements of a BVI company you need to order, and whether you need to register a business company in the British Virgin Islands at all, or if you can do with a low-cost option. It is advisable to select a bank account during this consultation as well, as it is cheaper to order the company and the account together, as we know exactly what documents you will need and how they should be certified. Please learn more about our free consultation here.

2. Before registration, choose a name for your company in the British Virgin Islands with the appropriate abbreviation at the end. The easiest and most commonly used options are Limited, Corporation, or Incorporated. For more details on abbreviations used for the BVI companies, please refer to the beginning of this article above.

The names of the British Virgin Islands (BVI) business companies may be written in any language in Latin letters. The use of names of existing companies or names similar to the existing ones is prohibited. Names that may appear offensive are unacceptable. Additionally, certain words in the name require the company to hold a special license. Such words include: bank, building society, savings, loans, insurance, assurance, reinsurance, trust, trustees, fund management, investment fund, university, municipal, as well as their foreign equivalents or names that evoke the banking or insurance industry.

3. You will need to send us a scanned copy of your travel passport and your contact information, such as your address, phone number (for courier delivery and e-invoice).

We will send you the e-invoice only after checking the company name availability. The invoice will have the name of your upcoming British Virgin Islands (BVI) business company. This invoice can be paid by card, PayPal, crypto, or bank transfer.

4. Next, you will need to fill out and send us a scanned copy of the form for the registered agent.

5. Next, we will need your recent utility bill with your name and address on it as proof of residence..

6. Bank reference or lawyer’s recommendation.

In order to save you time, we will start the registration procedure before we receive the originals, but we will not send you the corporate documents until the originals are received.

If you are considering setting up in the British Virgin Islands, or would like to learn more or explore other options, please get in touch with us. We are looking forward to your requests regarding the BVI offshore company setup at in**@***********rt.com or via any of the means of contact on this site. You have two options. You can have a complimentary, fifteen-minute consultation regarding company formation, ideal if you want to get started or learn about our service, or a one-hour consultation for 300 Euros, currently, normally 500, with an expert, if you want to dive deeper.

Important note. According to changes in BVI legislation (Section 5A* of the Mutual Legal Assistance (Tax Matters) Act, 2003), all registered agents now keep all information related to the place where the books and records of BVI companies are stored (including financial reports) in hard copy.