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Fee Changes in the British Virgin Islands

Effective January 1, 2005, the annual government fee for International Business Companies will be increased from $300 to $350 for companies with authorized capital not greater than $50,000 and from $1,000 to $1,100 for companies with authorized capital more than $50,000. Companies with no par value shares and authorized capital of $50,000 or less will have their fee remain as is at $350.

You should also note that, also effective on this date, any new company formed whose Memorandum and Articles of Association permits the issuance of bearer shares will now pay a government license fee of $1,100. Existing companies formed prior to January 1, 2005 will have until January 1, 2008 to amend their Memorandum and Articles of Association to prohibit the issuance of bearer shares before any increase in fees due to bearer shares becomes applicable.


More information can be found by visiting our website at www.ibcf.com, or by emailing us at clientsupport@ibcf.com.

Previous issues of the IBCF Newsletter can be found at: http://www.ibcf.com/news/newshome.php


About IBCF:
International Business Company Formation, Inc. assists legal professionals with company formation, both internationally and offshore, and with registered agent and corporate document retrieval services throughout the world.

International Business Company Formation is an affiliate of National Registered Agents, Inc., a fully licensed professional Registered Agent for thousands of business entities, large and small, throughout the entire United States.


International Business Company Formation, Inc. is located in the historic district of Tappan, New York, approximately thirty minutes from midtown Manhattan.


International Business Company Formation, Inc.
101 Main Street, Suite One
Tappan, New York 10983
Toll Free: 888-664-6263
Phone: 845-398-0900
Fax: 845-398-0808
www.ibcf.com

 

 


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