Restrictions on Activities

IBCs may not:

• trade or own real property within the BVI,
• undertake the business of assurance, banking, insurance, reinsurance, fund management, trust management, trusteeship or collective investment schemes
• give investment advice

Four areas in which IBCs are not permitted to be used are:

owning an interest in real property situated in the territory, transacting business with the public in the British Virgin Island, insurance and banking, (unless licensed under the Bank and Trust Companies Act, 1990) or, in the case of insurance, approved under the Insurance Business(Special Provisions) Act, 1991. There are other types of British Virgin Island corporations that can be established for these purposes.