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British Virgin Islands (BVI) – International Business

August 11, 2008

British Virgin Islands (BVI) is a British territory, located in the Caribbean. The islands make up part of the Virgin Islands archipelago, the remaining islands constituting the United States Virgin Islands.

In the British Virgin Islands it has long been fashionable to talk of the “twin pillars” of the Territory’s economy – tourism and financial services. The financial services are by far the more important. Nearly 50% of the Government’s revenue comes directly from licence fees for offshore companies, and considerable further sums are raised directly or indirectly from payroll taxes relating to salaries paid within the trust industry sector (which tend to be higher on average than those paid in the tourism sector).
As a British Overseas Territory, the BVI is made up of about 40 islands and keys (cays) located approximately 60 miles East of Puerto Rico in the Caribbean Sea. The BVI has gained a reputation as the world’s leading offshore corporate domiciles due to its effective regulation and efficient services. It combines a safe, politically stable environment with a suitable legislative framework developed with the financial community in mind.
The BVI offers one of the most popular and long established International Business Companies Acts in the world, with over 600,000 companies having been incorporated.
It has a zero tax rate, with no income, wealth, capital gains or estate tax for offshore entities.
The BVI has an effective regulation and a proven legal and court system based on the British legal system and English common law. There are also no exchange controls and the US dollar is the legal tender
The BVI boasts a modern communications infrastructure and easy access through excellent flight connections – which makes it a very pleasant holiday destination.

Written by Corporate Services · Filed Under Jurisdictions 

Comments

One Response to “British Virgin Islands (BVI) – International Business”

  1. Mr. Dave Cowan on February 21st, 2009 7:18 pm

    I’m wondering if you direct me to some information. I am a 10% sharholder in a company registered in the BVI. I have since left the employ of the company and wish to liquidate my shares. As the officers of the company are not reliably open sources of information on this issue, is there someone who can help me understand the viability of the shares, whether or how they can be liquidated, and how to establish their current value? Many thanks.
    D Cowan
    Boulder, CO

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