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ARTICLE · 09 MAY 2024

Why BVI?

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The British Virgin Islands ("BVI") are home to 361,491 active companies as of 31 December 2023. This article considers the reasons for the BVI's popularity as a jurisdiction to structure international transactions.

British Virgin IslandsCorporate/Commercial Law
Conyers
Conyers
Preetha Pillai
Preetha Pillai
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The British Virgin Islands ("BVI") are home to 361,491 active companies as of 31 December 2023. This article considers the reasons for the BVI's popularity as a jurisdiction to structure international transactions.

BVI Company Law

The first reason is the flexibility of our company law – the BVI Business Companies Act, 2004 ("BVIBC Act") which came into full force and effect on January 1, 2007. The BVIBC Act is based on Delaware law but it has been anglicised to take account of the fact that the BVI is a common law jurisdiction.

Incorporation

A business company is incorporated by the filing of the company's memorandum and articles of association with the Registrar of Corporate Affairs (the "Registrar") together with a document in the approved form signed by the first registered agent satisfying his consent to act in that capacity. Unlike other jurisdictions, there is no requirement to publicise an intention to incorporate, nor is there any pre- approval by

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