Specialist in British Virgin Islands (BVI) Offshore Company Incorporations
No corporate tax on BVI company profits.
Pay no taxes on the profits of a BVI company. This is one of the benefits of a BVI incorporation and is far more appealing to any other country or jurisdiction having a higher tax rate. There are other countries like the BVI that offer the zero tax rate on companies, so this concept is not unique. The kinds of businesses that use an offshore company to lower their effective tax rate are varied. There is no specific industry that offshore company use it tied to.
Instead of collecting taxes on company profits, there is an annual government renewal fee. This fee is fixed and is known to you in advance. The BVI government does not increase or lower this fee frequently. The down side of this is that if you have a BVI company and it made a loss (real or on paper) one year instead of a profit, you would still have to pay the annual renewal fee. Therefore, that payment would just increase your business losses.
We would not expect anyone to continue to pay the annual renewal fees, if they were experiencing losses year after year. We would be happy if they did continue to pay, but it would not make any sense for them to do so.