Confidentiality and Secrecy
Confidentiality is one of the main benefits of BVI Business Companies and an important reason to have an offshore company in the British Virgin Islands. The BVI International Business Companies Ordinance 1984 (as amended) contains extended privileges and strict confidentiality requirements for the companies.
The key features of BVI companies providing for complete confidentiality are:
- Register of Members, Register of Directors and all Minutes and Resolutions by the Company are kept only with the Registered Agent under confidential due diligence and do not appear on the public record.
- The shareholder information (Registrar of Shareholders) must be kept on file with the Registered Agent, where it is confidential and accessible only by the members of the company.
- Details of the company beneficial owners, directors and shareholders are not publicly available.
- The only documents held on public record are the Memorandum and Articles of Association, and normally they do not contain any indication as to the actual shareholders, directors or the beneficial owners of the company.
- Company Management (Nominee) services can be used if the owner of an offshore IBC wishes to maintain reasonable secrecy as regards his real controlling position over the particular offshore company. A Nominee would effectively shield the beneficial owner of the offshore company from public scrutiny and an obvious relation to the given company.
- Similarly, the services of Nominee Shareholder can be used to reach the desired level of confidentiality.
- Another layer of confidentiality is keeping shares registered onto a nominee.