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

Benefits of the BVI

What features makes the BVI an attractive option for offshore financial services?

  • No corporation tax for BVI Business Companies.
  • Fast and efficient registration of companies and efficient regulation of trust companies due to a favorably structured administrative system.
  • Zero estate, inheritance, succession and gift taxes on individuals.
  • The political and economic stability of being a British Dependent Territory.
  • A separate system of taxation from the United Kingdom.
  • Securities and Investment Business Act provides an excellent framework for the establishment of public and professional Mutual Funds.
  • No exchange controls.
  • Official currency is the United States Dollar.
  • A solid legal framework based on English common law, administered by a court system with a High Court, Court of Appeal and final appeal to the Privy Council in London.
  • Robust Insolvency legislation passed in 2004 in keeping with international standards.