Company incorporation in the BVI is similar to other offshore jurisdictions. It requires corporate documents and at least one shareholder, a citizen of any country. The minimum authorized capital requirements are not specified. Typically, standard share capital is USD 50,000. Bearer shares are not permitted.
Since 2007, BVI corporations are not divided into resident and non-resident. Thus, they are not required to pay corporate or income tax. The BVI are also called the most popular offshore destination in the world. BVI offshore companies must have a local registered agent and a local office address.