BVI Companies: Voluntary Liquidation vs. Strike-Off For winding down a British Virgin Islands (BVI) company, directors and shareholders typically face two primary options: voluntary liquidation or strike-off and dissolution by the Registrar of Companies. Each method has its own set of procedures, benefits, and potential drawbacks. Here, we compare these two processes to help you […]
Using BVI Companies in Global Tax Planning – Myths Debunked The British Virgin Islands (BVI) is the world’s most popular choice of jurisdiction for offshore corporate domicile. However, several myths and inaccuracies exist as it relates to using BVI companies in global tax planning structures. In this article, we aim to clarify common myths, misconceptions […]
Deadline Approaching to File the BVI Annual Financial Return As mandated by the BVI Business Companies (Financial Return) Order, 2023, all BVI-registered companies are required to file an annual financial return with their registered agent. This return includes a basic balance sheet and income statement. The first filing deadline for companies with a financial year […]
Overview of Crypto-Currency and ICOs in the British Virgin Islands In recent years, the realm of cryptocurrency and Initial Coin Offerings (ICOs) has witnessed unprecedented growth, with billions of dollars raised globally. The British Virgin Islands (BVI) have emerged as a pivotal hub in this new financial landscape, attracting numerous virtual asset issuers. This blog […]
BVI Annual Return Update Changes Effective from 1 January 2024 On January 1, 2023, it became mandatory for British Virgin Islands Business Companies (BVIBC’s) to file an Annual Return. The enabling legislation was the BVI Business Companies (Amendment) Act, 2023 (The BC Act) and it was further codified in the BVI Business Companies Financial Return […]