POST-HURRICANES IRMA AND MARIA UPDATE #2 – OCTOBER 5, 2017

The BVI

The British Virgin Islands (BVI) is a group of some 36 islands, 16 of which are inhabited, located about 70 miles east of Puerto Rico within the Lesser Antilles chain of Caribbean Islands. They have an estimated population of 28,000. The islands occupy an area of 59 Sq miles. The principal town and commercial centre is Road Town, on the island of Tortola. Principal economic activities are tourism and financial services. Principal access to the islands is by air through San Juan, Puerto Rico or Antigua or by ferry from St. Thomas in the US Virgin Islands.

The BVI is a British Dependent Territory with a Governor appointed by Her Majesty's Government, and an elected legislature, headed by a Premier. The Governor is responsible for external relations, defense, and internal security including the police, public service and the administration of justice. All other matters, including finance and taxation, are the responsibility of local Government. The Legal system is based on English Common Law; there is an efficient commercial court with final appeal to the UK Privy Council.

The Territory enjoys the reputation of being a stable, secure, sophisticated democracy with a commitment to providing quality service to a quality clientele. This reputation, together with innovative and flexible legislation, has helped to make BVI companies become recognized and accepted by banks, stock exchanges and governments throughout the world. As such, the Territory is maintained as the largest incorporator of companies in the world.