British Virgin Islands

Basic law for formation	BVI Business companies Act 2004
Type of company available for offshore business	IBC
Out-of-territory income taxed	No
Minimum number of Directors	1
Minimum number of shareholders	1
Shares unregistered to a name	ne
Standard share capital	50 000 USD
Registered agent / seat necessary	Yes / Yes
Local secretary necessary	No
Tax report obligatory	No
Audit obligatory	No
Local general meetings	No
Annual state tax	300 USD
Companies registered in 2008	52 716

Definitely the favorite offshore centre. Registrar has records of over 650,000 companies and about 50,000 new ones are registered every year. Similar advantages that other destinations offer. The friendly feats here are tradition and sound name, political stability, status of British dependant territory and high discretion. Beside IBCs you can form trusts, banks, insurance companies and funds.