1.1 Types of Company
The principal statute governing the formation and operation of a
BVI business company is the Business Companies Act 2004, as amended
(the 'BC Act'). The BC Act regulates the incorporation of
all types of BVI companies, including those limited by shares,
those limited by guarantee, unlimited liability companies,
restricted purposes companies and segregated portfolio companies.
However, the most common form of company in the BVI is a company
with limited liability authorised to issue shares.
There are no qualification criteria under BVI law that impose
restrictions on which shareholders may invest in a BVI business
company. However, any beneficial owner owning, directly or
indirectly, 10% or more of the voting shares of a BVI business
company will need to satisfy the registered agent's 'know
your client' requirements.
