BVI IBC's Share Capital
Authorized Share Capital
The company may be incorporated even with one share, as there are no minimum or maximum share capital requirements. Share capital can be in any currency or in multiple currencies (more usually it is US dollar).
Issued Share Capital
Not required, so it is not necessary to issue shares unless it is decided by the directors. However, once issued, these should be paid in full amount. Shares can be issued for considerations other than cash such as services, properties, shares of another company etc.
Minimum issued capital can be only one share with or without a par value. Payment of minimum capital is not required, however if you pay, your minimum paid in capital can be one fully paid share.
Company can buy back or redeem its own shares. These shares can be cancelled or kept as treasury shares.
Classes of Shares
An IBC can issue such types of shares as registered, bearer, of No Par Value, redeemable shares, preference shares, with or without voting rights.
Note: According to the new legislative regime, which was stated in force from 1 January 2006, bearer shares should be placed with licensed custodian. These changes were adopted to make the companies more transparent. Thus, IBCs that have authorised bearer shares in the Memorandum and Articles of Association will have two opportunities: to deposit the bearer shares with a custodian or exchange the bearer shares for registered shares and modify the M&AA so that bearer shares are no longer allowed.
More about changes in the bearer shares regime please read in the chapter Changes in Legislation: IBC (Amendment) Act 2003.
The time of incorporating a BVI IBC
Incorporation of a new company usually takes 3 or 4 days. Time for notarization and apostillization of all the documents is about 4 or 5 days. Delivery service – 2 days.
Nominee Services
These are optional services recommended to those people who need absolute confidentiality and privacy, and do not wish to be publicly related to their company. If the client uses nominee services, his/her name will not appear on the Registrar of Companies, but the nominees' names. The company however can be managed by the real owner through a P.O.A. Nominee services are used when they can be recommended for your own individual situation.
