Advantages of setting up a business in the British Virgin Islands

BVI International Business Company (IBC) is the most commonly used official name for what is more popularly known as an "offshore company". IBC's are the basic building blocks of the offshore financial services industry.

The main advantages are:

• Exemption from taxes on all income of an IBC
• Exemption from taxes on all dividends paid by an IBC
• Exemption from taxes on all interests, rent, royalties, compensations and other amounts paid by an IBC
• Exemption from taxes on capital gains on shares, debt obligations or other securities of an IBC by non-residents
• No currency restrictions
• Meetings of shareholders and/or directors may be held in any country and may be attended by proxy
• No citizenship or residency requirements for directors, officers or shareholders.