British Virgin Islands Offshore Company Formation

The British Virgin Islands is a British Overseas Territory consisting of some 60 islands and cays with a land area of about 150sq. km. and located in the Caribbean Sea some 96km. east of Puerto Rico. The capital and financial centre, Road Town, is situated on the largest island, Tortola.

The islands were discovered by Columbus and have been British since 1672. The colony is internally self- governing with a ministerial system of government. The Governor is appointed by the British Crown and retains responsibility for defence and internal security, external affairs, the civil service and the administration of the Courts and finance. Apart from offshore financial services the main industry is tourism. The currency is the U.S. dollar and the language English.

British Virgin Islands Financial Services

The British Virgin Islands financial services industry probably had its roots in a double taxation treaty with the U.S.A. In 1985 however legislation was introduced to permit the formation of international business companies. The company law was modern and flexible and the islands flourished. There are now probably more offshore companies incorporated in the British Virgin Islands than anywhere else. In 2005 the I.B.C. Act was replaced by the Business Companies Act 2005, which brought the company law up to date. At the same time the British Virgin Islands introduced a zero rate system of corporate taxation to comply with the international obligation to treat resident and non-resident taxpayers equally.

Being a British controlled territory, the British Virgin Islands are covered by the European Savings Tax Directive. For more information on this topic click on the link.

British Virgin Islands offshore company formation regulations

Why not talk to us about forming an offshore company in the British Virgin Islands? Call +353 1 431 9663 or Click Here to contact us.