How to Set Up a Company in the BVI (2026)

What BVI is and isn't

• The BVI BC is a holding company vehicle. It is not designed for:
• Day-to-day banking (too hard to open accounts for standalone BVI companies)
• Standalone trading operations (no treaty network)
• Impressing clients (BVI address raises more questions than UK or Singapore)

• The BVI BC is excellent for:
• Holding shares in operating companies across multiple jurisdictions
• Joint venture vehicle between parties from different countries (neutral, English law, flexible)
• Asset protection — owning valuable assets (IP, real estate, subsidiary shares) separate from the operating company
• Fund structures (above a Cayman GP or as a co-investor)

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Step 1: Choose a Registered Agent

• All BVI BC formations are handled by a BVI-licensed registered agent. The registered agent:
• Files with the BVI Financial Services Commission (FSC) Registry of Corporate Affairs
• Maintains the registered office
• Assists with compliance

Major BVI registered agents: Vistra, Intertrust, Maples, Harneys (law firm), Ogier, Conyers. Also smaller boutique agents that are cheaper.

Cost: USD 400–1,500/year for registered agent + registered office

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Step 2: BVI BC formation

• Requirements:
• Company name (unique within BVI; "Limited," "Ltd," "Incorporated," "Inc.," etc.)
• Registered office (via registered agent)
• Registered agent (licensed BVI firm)
• Minimum 1 director (individual or corporate; no nationality/residency restriction)
• Minimum 1 shareholder (no restriction)
• No minimum capital
• No audit requirement
• No annual accounts filing (company keeps internal records but does not file accounts publicly)

Share register: A share register must be maintained — either at the registered agent's office or at a recognized location. Since 2023, beneficial ownership information must be held in the BVI BOSS (Beneficial Ownership Secure Search) system.

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Step 3: Government fees

• Annual government fee depends on authorized share capital:
• Up to USD 50,000 authorized capital: USD 350/year
• Over USD 50,000 authorized capital: USD 1,100/year

Most BVI BCs are formed with USD 50,000 authorized capital (or standard 50,000 shares of USD 1 par value) to keep fees at the lower tier.

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Beneficial ownership (post-2023)

BVI passed legislation requiring a publicly accessible register of beneficial ownership (following UK government pressure). Implementation timeline has faced delays. As of early 2026, the BOSS system is operational and accessible to competent authorities. Check current public accessibility status.

Effect: BVI is no longer a secrecy jurisdiction. CRS applies. Beneficial owners are known to BVI FSC and shareable with partner jurisdictions.

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Banking

A standalone BVI BC cannot reliably open a bank account at a reputable bank. Banks see BVI offshore companies as high-risk without a clear operating substance.

• The standard approach:
• BVI BC is the holding company (owns shares in subsidiaries)
• The operating subsidiary (UK Ltd, Singapore Pte Ltd, UAE free zone company) holds the bank account
• Dividends flow from the operating subsidiary to the BVI BC
• The BVI BC's banking needs are minimal (internal transfers only)

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Real cost (Year 1)