BVI company formation for non-residents

What a BVI company costs in year 1 and year 2

Starter is a fixed quote for year 1. It includes the government incorporation fee, the registered agent and registered office for 12 months, the memorandum and articles, the statutory registers and the first filings.

Growth (a fixed quote) adds a bank-account introduction and 12 months of mail scanning. Premium (a fixed quote) adds director and shareholder services, disclosed to the registered agent and authorities, 12 months of bookkeeping and the year-2 annual filing.

From year 2 the renewal is a fixed quote on Starter. It covers the annual government fee, the registered agent and office, and the annual filings: the economic substance declaration and the annual financial return.

The government fee depends on how many shares the company may issue, with a lower band for companies authorised to issue up to 50,000 shares (Schedule 1 of the BVI Business Companies Act). We set holding companies up in that band unless you need more shares.

The annual fee date is fixed by your incorporation date. A company incorporated between 1 January and 30 June pays by 31 May each year; one incorporated between 1 July and 31 December pays by 30 November. Paying late adds 10% of the fee, or 50% if you pay two months or more after the due date.

• Included: government fee, registered agent and office, memorandum and articles, registers, and our beneficial ownership filing service (the registry's filing fee is shown on your quote)
• Included from year 2: annual fee, agent and office, economic substance declaration and annual financial return
• Optional: apostilled document set, director or shareholder services on Starter and Growth

How long it takes, and why the registered agent matters

Only a licensed BVI registered agent can file an application to incorporate. That agent is legally responsible for knowing who is behind each company it registers, so it runs its own customer due diligence before it files.

For a simple holding company with individual owners, expect 2–5 business days after KYC approval. Layered structures, trusts or corporate shareholders take longer because the agent needs documents for each layer, so we send you one list of everything the agent needs at the start.

• Before KYC approval: order placed, documents uploaded, name checked
• Business day 0: KYC approved, with enhanced due diligence where the profile needs it
• Business day 1–3: incorporation filed with the Registry of Corporate Affairs
• By business day 5: certificate, memorandum and articles and registers in your portal

Annual compliance: the filings a BVI company cannot skip

A BVI company has no annual audit. Three things recur every year: the annual fee, the annual financial return and the economic substance declaration. Changes in beneficial ownership are filed as they happen.

The annual financial return came in with the 2022 amendments and applies from 1 January 2023. Every company files it with its registered agent within 9 months after the end of its financial year. It is not an audit and it is not public, but the agent keeps it for at least 5 years and must report companies that do not file.

Economic substance reporting started in 2019. Each financial period the company tells its registered agent whether it carries on a relevant activity. There are nine: banking, insurance, fund management, finance and leasing, headquarters, shipping, holding, intellectual property, and distribution and service centre business.

The agent submits the declaration to the International Tax Authority (ITA) through its VIRRGIN platform. In May 2026 the ITA said late penalties on these declarations stay suspended while it fixes system errors (ITA, as of September 2026).

• Annual government fee: by 31 May or 30 November, depending on the incorporation date
• Annual financial return: to the registered agent within 9 months of year end
• Economic substance declaration: every financial period, through the registered agent
• Beneficial ownership changes: file with the Registrar within 30 days of the change

Directors, shareholders and beneficial ownership

A BVI business company needs at least one director and one member. Both can be individuals or companies of any nationality, and one person can hold both roles. The company files its register of directors with the Registrar, and the copy on file is not open to public search (as of September 2026).

The biggest recent change is beneficial ownership. The BVI Business Companies (Amendment) Act 2024 came into force on 2 January 2025, and the Beneficial Ownership Regulations 2024 require a new company to file its beneficial owners with the Registrar within 30 days of incorporation.

Changes are filed within 30 days as well. The register is not open to general public search. Under the Beneficial Ownership Regulations, a person can apply to inspect an entry, on the conditions the regulations set, for a US$75 fee (S.I. No. 119 of 2025), and the company can object or seek an exemption.

If someone else acts as director or shareholder for you, that arrangement is disclosed to the registered agent and to the authorities. Nobody should sell you a BVI company as a way to keep your ownership from regulators.

Tax: what the BVI charges, and what your home country may charge

Section 242 of the BVI Business Companies Act exempts a company from the Income Tax Ordinance. The exemption extends to the dividends, interest, rents and royalties it pays and to capital gains on its shares and other securities. No estate, inheritance, succession or gift tax is payable on its shares.

The company's main local cost is the annual government fee. That is why the BVI is used for holding shares, joint ventures and investment vehicles.

The BVI rate is not the whole answer. If the company is managed from your home country, it can be treated as tax resident there, and many countries tax their residents on profits kept in foreign companies under controlled foreign company rules.

The BVI exchanges financial account information under the OECD Common Reporting Standard (CRS) and the US Foreign Account Tax Compliance Act (FATCA) through its International Tax Authority, so tax offices in your country can see accounts held for you. Plan the structure with a tax adviser who knows both ends.

Bank accounts and the FATF listing

BVI companies rarely bank in the BVI. They open accounts where the business happens, often in Hong Kong, Singapore, Europe or with an electronic money institution (EMI). Since June 2025 the BVI has been on the FATF increased-monitoring list, and since 29 January 2026 on the EU list of high-risk third countries for anti-money laundering. Some banks now ask more questions or decline BVI entities.

We deal with this before you pay. We check which banks and payment institutions currently accept BVI companies with a profile like yours, and on Growth and Premium we prepare the application.

The bank still decides. A clear group chart, proof of source of funds and a real business reason for the BVI entity make the biggest difference.

What you provide and what we handle

BVI registered agents ask for more than an onshore registry does. For each director, shareholder and beneficial owner we need a passport copy and a recent proof of address, and the agent may also ask for a bank or professional reference.

For the company we need its purpose, the countries it will deal with, a source-of-funds statement and a CRS tax residency self-certification.

We handle the rest: the name check, the memorandum and articles, the filing through the registered agent, the government fee, the registers of directors and members, and the beneficial ownership filing within the 30-day deadline. After incorporation we track the annual fee date, the financial return and the economic substance declaration, and remind you before each one.

• You provide: passport, address proof, reference if asked, business purpose, source of funds, CRS self-certification
• We handle: name, constitution, filing, government fee, registers, beneficial ownership filing, annual calendar
• For a group structure: a chart showing every layer up to the individuals who own or control it

When a BVI company fits, and when it does not

The BVI fits a holding company, a joint-venture vehicle or a company that owns shares in operating subsidiaries. There is no annual audit, and the company law allows one director and one member of any nationality.

It is a poor fit for a trading business that needs local bank accounts, payment gateways and invoices that customers trust. A Hong Kong company suits trade with Asia, and a US LLC suits selling online to US customers. If institutional investors or a fund structure are involved, a Cayman exempted company is a common alternative.