Several weeks ago IBC Registry of the BVI sent out a notification of new legislation concerning offshore company incorporation in the jurisdiction. The notification in the form of a memorandum included information as to the handling of the shares of the corporation. Until now, the bearer shares of a BVI company could be held by the owner of the shares, the director, the beneficial owners, or the bank. Now the BVI is requiring that all bearer shares be held on the registered office of the company. The fees for the bearer shares have also increased greatly. For all offshore companies but they share capital of $50,000 (the standard share capital of a BVI company) are now required to pay an additional fee of $1100 in taxes to the registry for the privilege to have bearer shares. If the company has a share capital of over $50,000, to pay annual taxes in excess of $1350 for such privilege. It seems that the BVI has once again outdone itself in the excessive taxation as well as changes imposed on companies incorporated in the jurisdiction. In the past the BVI was probably one of the most sought after jurisdictions in which to open an offshore bank account or to protect one’s assets.  Now with the ongoing changes in legislation as well is the ever-increasing fees associated with maintaining such a company, it has become more and more difficult for those who own a BVI incorporation to maintain said Corporation.  why would the jurisdiction continued to make such changes as well as increase taxes and fees involved with the maintenance of the companies incorporate in their jurisdiction? This is a very simple question to answer! If you take a look at the average salary of most professional citizens in the BVI, you will see that most people are paid on the average US$40,000 per year. With salaries so high for a small island nation, they need to continue to maintain their lifestyle. In order to do so they have a tendency to create more work where work need not exist. So in order to continue living such a lavish lifestyle, most government officials as well as attorneys in the jurisdiction have chosen to be very proactive in making changes as well as increasing fees in the jurisdiction in order to preserve the economical well-being. However, there are excellent alternatives to the BVI and these jurisdictions offer an overwhelming level of protection as well as stability. Such jurisdictions as the Seychelles and Belize offer unparalleled security, privacy, and flexibility when compared to the BVI.  Using such jurisdictions will also allow you to minimize the changes as well as increasing fees that the BVI has experienced over the last 5 to 7 years.