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BVI Companies: Rules relating to disclosure of directors and shareholders.
BVI companies are hallmarked by flexibility. For example it is not obligatory to place on public file the names of the directors and shareholders of a BVI company should clients require discretion and confidentiality. However, recent legislation in the BVI now requires a directors register to be maintained that is accessible to law enforcement and also requires the details of the identity of beneficial owners to be maintained in the BVI by the required agents.
The financial statements of a BVI company are not publicly disclosed, and there is no annual return detailing shareholders and directors. Such provisions help to reduce administrative costs and are particularly useful where clients wish to run the business of the BVI company themselves, but in a reasonably confidential environment. Many clients simply require confidentiality rather than an offshore tax location for their business. BVI companies are ideal vehicles of this purpose.
Where it is advantageous to register publicly the directors and shareholders – perhaps to reinforce and clarify company residence in the BVI or some other offshore location, through the use of offshore directors and offshore trustees as shareholders – such public registration can be accomplished. Public disclosure of the directors may also be required to facilitate lending arrangements.
Jordans can provide or arrange offshore directors for your BVI company in a wide variety of offshore locations, including, but not restricted to, the BVI.