Corporate Characteristics Naming the IBC Name Restrictions Company Records and Statements Classes of Shares Bearer Shares Share Capital Meetings Reporting Requirements Taxation Business with BVI Residents

Requirements for doing Business with BVI Residents and Resident Companies

Restrictions for BVI IBCs on having business affairs with BVI residents or resident companies do not apply in following conditions:

- If company communicates on professional issues with lawyers, solicitors, accountants, bookkeepers, trust companies, management or secretarial companies, investment advisors and similar persons or companies making their business within the BVI;

- If it holds shares, debt obligations and other securities in other BVI IBCs or local corporations;

- If shares, debt obligations and other securities of the company are held or owned by any person resident of the BVI, BVI IBC or any other local corporation;

- If company prepares or maintains books and records within the BVI;

- If meetings of company's shareholders and directors (when needed) are held within the BVI;

- If company leases property to use it as an office from which to communicate with members or where to hold or maintain books and records of the company;

There are no restrictions on carrying on business outside of the BVI by IBCs except illegal activities or such activities that require additional licensing such as banking services, the insurance and trusts.