The British Virgin Islands consist of the main islands of Tortola, Virgin Gorda, Anegada, and Jost Van Dyke, along with over 50 other smaller Caribbean islands and cays.
BVI is one of the most well-known tax havens, however nowadays it is no longer able to ensure a high degree of anonymity.
The capital of BVI: Road Town
BVI Official language: English
BVI Currency: U.S. dollar (USD)
Description and advantages BVI company
- The legal form an offshore company is called IBC - International Business Company.
- The possibility of issuing bearer shares in certificated form which must be held in custody at the registration administrator and may not leave the BVI territory.
- IBC in the BVI may not conduct business with residents of the BVI and own properties in BVI other than their own headquarters of the offshore company.
- BVI offshore company does not pay any income tax.
- The minimum number of directors is one, the director may be a non-resident, a natural person or legal entity.
- The share capital may be in any amount and does not need to be fully repaid.
- Non-public register - register of directors and shareholders register is deposited with the registration agent and is not publicly accessible.
International Convention against money laundering and terrorist financing
BVI have signed these contracts. The practical importance of these agreements for the owner of the company is mainly in the fact that, in case of suspected money laundering or financing of terrorism by the BVI company, its registration agent may provide personal data of persons participating in the company and the basic description of its operations to higher authorities that may forward the case even to the Czech Republic.
Avoidance of double taxation agreement (DTA) with the Czech Republic
This agreement is not concluded. Direct payments from the Czech Republic to the BVI are subject to withholding taxes. A BVI company is not suitable for direct sale of goods or services to the Czech Republic.
Agreement on the exchange of tax information with the Czech Republic
This agreement is concluded. There is a two-way exchange of information.
Convention on Mutual Administrative Assistance in Tax Matters
This agreement is not concluded.
Common use of the BVI offshore company
- Holding (parent company) to another company for the purpose of anonymity of property ownership.
- Direct sale of goods or services where it is not necessary to use a system of agreements to avoid double taxation, and there is no risk of withholding taxes.
Establishing an offshore company in the BVI