British Virgin Islands
British Virgin Islands: 3 company types, its taxes, banking and business environment.
Forming a company
Company types in the British Virgin Islands
The 3 forms a founder can choose here, each with its own figures. Open one for its sources.
Doing business here
Business accounts
Providers whose own published list of countries names British Virgin Islands. A listing means a company formed here may apply, not that it will be accepted.
Not in our records No provider's country list has been read for British Virgin Islands.
EU listings
Two lists a bank checks when it opens an account for a company or its owner.
- EU high-risk third countries (AML)
- Not listed
- EU non-cooperative jurisdictions for tax purposes
- Not listedOfficial EUR-Lex, 52026XG01465, Annex I as of 2026-02-17
Official sites
The authorities’ own sites for British Virgin Islands: where to register, file and check.
Blocs and agreements
The trade arrangements British Virgin Islands belongs to, as each arrangement’s own texts state them: since when, and what each covers. What a membership means for a business is for you to judge.
British Virgin Islands’s own position
- Customs territory
- Its own (Territory of the Virgin Islands)
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“Customs” means the department of Government responsible for the collection and security of the revenues of customs and control of all imports and exports to and from the Territory;
- VAT territory
- Not in our records
- EU–UK Trade and Cooperation Agreement
- Outside
The British Virgin Islands are named among the overseas territories to which the EU-UK Trade and Cooperation Agreement does not apply (art. 774(4)).
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This Agreement does not apply to the overseas territories having special relations with the United Kingdom: Anguilla; Bermuda; British Antarctic Territory; British Indian Ocean Territory; British Virgin Islands; Cayman Islands; Falkland Islands; Montserrat;
- OECS Economic Union
- Outside
The BVI is an associate member of the OECS; the OECS states the Economic Union's benefits go to the seven Protocol Member States, which do not include the BVI.
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The British Virgin Islands, Anguilla, Martinique, Guadeloupe and Saint Martin are associate members of the OECS.
In regional arrangements
- OECS Economic Union
- Associate member
Associate Member of the OECS, not a Protocol Member State of the Economic Union. Associate membership date from the OECS member table (22 Nov. 1984).
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The British Virgin Islands, Anguilla, Martinique, Guadeloupe and Saint Martin are associate members of the OECS.
Regional and customs arrangements only, 36 of them; bilateral trade agreements are not yet in our records.
Tax
Company tax
Tax, and what the company owes the registry each year.
- Corporate income tax
- 0%
- Distributions
- Not in our records
- Audit
- Not in our records
- Small-company relief
- Not in our records
- Annual obligations
- Not in our records
- Annual registry fee
- USD 550Official The registry or ministry page as of 2026-10-10
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a company specified in section 5(a), (c) or (e)
VAT
The tax on what the company sells in British Virgin Islands, and when it must register, as the tax authority states it.
- Standard rate
- Not in our recordsThe tax authority’s pages have not been read for British Virgin Islands.
Tax calendar
When the main returns and payments fall due in British Virgin Islands, tax year 2026, as the tax authority states it.
- Corporate tax return
- Not levied here
No corporate income tax exists in the British Virgin Islands; the Inland Revenue Department's list of taxes it collects contains no tax on company profits.
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is charged with the responsibility of collecting payroll tax, stamp duty, self-drive motor vehicle tax, hotel accommodations tax, land & house tax (property tax), liquor licence, cheque duty, and service charges.
- Corporate tax, final payment
- Not levied here
No corporate income tax exists, so there is no balancing payment of corporate tax.
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is charged with the responsibility of collecting payroll tax, stamp duty, self-drive motor vehicle tax, hotel accommodations tax, land & house tax (property tax), liquor licence, cheque duty, and service charges.
- Corporate tax, instalments
- Not levied here
No corporate income tax exists, so there are no advance or instalment payments of corporate tax.
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is charged with the responsibility of collecting payroll tax, stamp duty, self-drive motor vehicle tax, hotel accommodations tax, land & house tax (property tax), liquor licence, cheque duty, and service charges.
- Personal income-tax return
- Not levied here
No personal income tax exists in the British Virgin Islands; the Inland Revenue Department collects no income tax return from residents.
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is charged with the responsibility of collecting payroll tax, stamp duty, self-drive motor vehicle tax, hotel accommodations tax, land & house tax (property tax), liquor licence, cheque duty, and service charges.
- Personal income tax, final payment
- Not levied here
No personal income tax exists, so there is no balancing payment of individual income tax.
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is charged with the responsibility of collecting payroll tax, stamp duty, self-drive motor vehicle tax, hotel accommodations tax, land & house tax (property tax), liquor licence, cheque duty, and service charges.
- Personal income tax, instalments
- Not levied here
No personal income tax exists, so there are no payments on account or advance payments of individual income tax.
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is charged with the responsibility of collecting payroll tax, stamp duty, self-drive motor vehicle tax, hotel accommodations tax, land & house tax (property tax), liquor licence, cheque duty, and service charges.
- VAT return
- Not levied here
No VAT or GST exists in the British Virgin Islands. The consumption-type charges are customs duties at import and the hotel accommodation tax on accommodation; there is no general periodic VAT/GST return.
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is charged with the responsibility of collecting payroll tax, stamp duty, self-drive motor vehicle tax, hotel accommodations tax, land & house tax (property tax), liquor licence, cheque duty, and service charges.
- Payroll withholding
- Not levied here
There is no income tax to withhold from salaries. Employers do pay payroll tax, which the Inland Revenue Department collects monthly, but payroll tax is a tax on remuneration, not an income tax withheld at source, so this row records that the income-tax withholding obligation does not exist here.
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is charged with the responsibility of collecting payroll tax, stamp duty, self-drive motor vehicle tax, hotel accommodations tax, land & house tax (property tax), liquor licence, cheque duty, and service charges.
Running the company
Running a company here
Not in our records The authorities’ pages on running a company have not been read for British Virgin Islands yet.
Economy and trade
What it exports
Goods British Virgin Islands exported, by product, as a share of its goods exports each year. Exports include goods passing through for re-export. A share describes British Virgin Islands’s own trade; it does not compare places.
| Product (HS heading) | 2022 | 2023 | 2024 | Value, 2024 |
|---|---|---|---|---|
| Paintings, drawings and pastels, executed entirely by hand, other than drawings of heading 4906 and other than hand-painted or hand-decorated manufactured articles; collages, mosaics and similar decorative plaques HS 9701 | 0.30% | 2.1% | 47.1% | US$95 m |
| Ferrous waste and scrap; remelting scrap ingots of iron or steel HS 7204 | 0.19% | 0.07% | 11.8% | US$24 m |
| Yachts and other vessels for pleasure or sports; rowing boats and canoes HS 8903 | 55.7% | 43.7% | 9.5% | US$19 m |
| Petroleum oils and oils obtained from bituminous minerals, crude HS 2709 | under 0.05% | under 0.05% | 7.5% | US$15 m |
| Original sculpture and statuary, in any material HS 9703 | 0.56% | 0.12% | 2.3% | US$5 m |
| Printed circuits HS 8534 | 0.73% | 1.1% | 2.0% | US$4 m |
| Other footwear with outer soles and uppers of rubber or plastics HS 6402 | 0.16% | 1.5% | 1.8% | US$4 m |
| Other aircraft (for example, helicopters, aeroplanes), except unmanned aircraft of heading 8806; spacecraft (including satellites) and suborbital and spacecraft launch vehicles HS 8802 | under 0.05% | 18.2% | 1.2% | US$2 m |
| Footwear with outer soles of rubber, plastics, leather or composition leather and uppers of leather HS 6403 | 0.55% | 1.4% | 1.1% | US$2 m |
| Compounds with other nitrogen function HS 2929 | under 0.05% | under 0.05% | 0.86% | US$2 m |
Total goods exports, 2024: US$202 m. The ten largest headings are shown.