New Bearer Shares Regime Fees Custodians Authorised Custodians Recognised Custodians Requirements for Shareholders Transfer of Bearer Shares Alternatives Cancellation of Bearer Shares Register of Directors

Fees

Any IBC/BVI Business Company, which has the power to issue bearer shares in the Memorandum and Articles of Association, will have to pay a government incorporation fee and an annual licence fee of $1,100 per year, even if it does not actually issue bearer shares. Companies will start to pay the increased fees from 1 January 2008.

Therefore, it can be advised to the companies which have bearer share powers but do not use them to take action to remove those powers from their Memorandum and Articles, to avoid paying these increased fees.

There will be also the opportunity to convert IBCs into BVI Business Companies after some time.