The BVI

The British Virgin Islands (“BVI”) is a group of some 40 islands, 16 of which are inhabited, lying 60 miles to the east of Puerto Rico, and within the Lesser Antilles chain of Caribbean Islands. The islands occupy an area of 59 Sq miles. The principal town and commercial centre is Road Town, which is located on the island of Tortola. Principal economic activities are tourism and financial services. The estimated population is some 27,000. GDP per capita in 2007 was estimated US51,273. Principal access to the islands is by air through San Juan, Puerto Rico or Antigua, 90 miles to the east, or by ferry via St. Thomas in the United States Virgin Islands.

The BVI is a British Overseas Territory with a Governor appointed by the United Kingdom as the representative of Her majesty the Queen, and an elected legislature headed by a Premier. The Constitution gives the Governor certain responsibilities, which include oversight for external affairs, defence, internal security, and the administration of justice. All other matters, including finance and taxation are the responsibility of the local Government. The legal system is based on English Common Law and there is an efficient commercial court housed in Road Town 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 large and diverse clientele. This reputation, together with innovative and flexible legislation that has become a model for other offshore jurisdictions, has helped to make BVI Business Companies be recognized and accepted by banks, stock exchanges and governments throughout the world. This has established the Territory as the largest domicile for companies in the world.