British Virgin Islands (BVI) is an archipelago consisting of more than 40 Islands, 16 of which are inhabited. BVI's economy is one of the most developed in the Caribbean.
Status – British Overseas Territory. Established as a dependency of the United Kingdom. Became separate in 1960 and autonomy in 1967.
Capital – Road Town
Official languages – English
Currency – United States dollar (USD)
Taxation – no VAT, income, corporate, capital gains or withholding tax. Fixed annual fee – 350$. Payroll tax is paid at a graduated rate depending upon the size of the employer.
Advantages of setting up a company in the BVI.
The British Virgin Islands is a one of the most attractive jurisdictions in the world for establishing an offshore business. It is the large and trustworthy offshore center with a strong international reputation in the Funds and Investments, Corporate Business, Ship and Aircraft Registration, Captive Insurance and Trust and Estate Planning.
The BVI has signed over 17 Tax Information Exchange Agreements (TIEAs) including agreements with Britain, France, Germany, Italy, and Spain.
Being a member of the British Commonwealth, the BVI has strong ties both with the UK and the EU as well. The law in the territory is based on British common law.
The BVI jurisdiction is mostly chosen for the following aims: holding companies, international holding companies, international trading, asset protection, funds.