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

Restrictions on IBC Names

A company cannot be incorporated with any name that is identical or very similar to an existing company name. Also, there are restrictions for any name that requires approval of the government or the Royal Family. These names are as follows: Assurance; Royal; Bank; Trust; Building Society; Trust Company; Chamber of Commerce; Trust Corporation; Chartered; Trustee Company; Cooperative; Trustee; Imperial; Savings; Insurance; Savings and Loan; Re insurance; Underwriting; Indemnity; Surety; Guarantee; Casualty; Municipal; any names suggesting the connection with the Queen of England, the Royal Family, any of the Government departments, municipality or other local authority, any society or body incorporated by Royal Charter.

To get such company name incorporated, customer needs to attach a letter of approval, granted by the Registrar, together with particular incorporation documents.A very good reason would have to be presented for getting such a permission.

Normally, there is possibility to change company name after incorporation.