BVI

Executive Summary: The economy is highly dependent on tourism and financial services. The BVI has significant mutual fund and captive insurance sectors. The Financial Services Commission ensures independent and effective supervision of financial institutions. The BVI is a reasonably cheap jurisdiction compared to competing Caribbean countries, and has relatively strong professional services. The government is responsive to the country business needs, and its legislation is mostly flexible and straightforward. No-tax offshore vehicles (IBCs) are available, and domestic taxes are not high in any event. The BVI has emerged as a leader in emerging market corporate finance. COUNTRY: BRITISH VIRGIN ISLANDS...

EXPERT INSIGHTS 2020

Q: Why is the BVI the pre-eminent finance centre through which Chinese investors structure foreign investment? As the prime Caribbean incorporation centre, the BVI has a significant professional services infrastructure with leading international legal, accounting and trust companies present on the island. Many such firms have offices in Hong Kong and mainland China to facilitate business locally.  The BVI international business companies legislation dates from 1984 and is well understood by financial institutions around the world. The combination of reliable company law and fiscal neutrality presents an ideal platform for cross border trade and investment. Q: What are the most popular...

EXPERT INSIGHTS 2020

When was trust law introduced in your jurisdiction? The British Virgin Islands (BVI) is a well-respected and sophisticated jurisdiction for the establishment of trusts.  The general principles of BVI trust law are derived from those of English trust law as developed by the English courts of equity.  Indeed, the principles of English common law and equity can be applied directly in the BVI by virtue of the Common Law (Declaration of Application) Act 1705 and the Eastern Caribbean Supreme Court (Virgin Islands) Act, as supplemented or modified by specific statutory provisions to offer a variety of flexible and user-friendly trust...

EXPERT INSIGHTS 2020

The last few years have seen a steady flow of Chinese businesses choosing to incorporate entities in the British Virgin Islands (BVI), and Chinese lawyers seeking knowledge on the uses and advantages of BVI structures for their clients' transactions. Ashley Davies, partner, corporate & finance Group, of Campbells, discusses what has perked the Chinese interest in the BVI. Over the last few decades, it is increasingly widely known that there has been a steady flow of Chinese businesses choosing to incorporate entities in the British Virgin Islands (BVI). And in tandem with the growing interest from Chinese enterprises looking to...

CORPORATE & FIDUCIARY REPORTS 2019

Country:                  British Virgin Islands Region:                    Caribbean Currency:                 US dollar (USD) (US$) Languages:              English Time Zone:               UTC -4  Phone Code:             +1284 Communications:      Good Formation Cost:        900 - 1700 USD$ Formation Time:       2 - 4 days Maintenance cost:     400 - 800 USD$ The economy is highly dependent on tourism and financial services. The BVI has significant mutual...

FUNDS & FUNDS SERVICES JURISDICTION 2018

What are the advantages of the BVI as an offshore jurisdiction for Chinese investors? What makes it different from other jurisdictions for Chinese investors? The British Virgin Islands (BVI) has built a reputation as one of the world leading finance centres meeting the needs of international businesses and high net worth individuals. Advantages for Chinese investors using BVI structures and services include: Asset security- the ability to transfer domicile; protect assets from expropriation or confiscation orders from foreign governments; Transfer assets to another company, trust, foundation, association or partnership; Merge or consolidate with any other BVI or foreign company in...

CORPORATE & FIDUCIARY JURISDICTION 2015

1. Industry research suggests that China will soon rank first in the world as a source of clients. Have you experienced an increase in demand for your company incorporation services from this region? The British Virgin Islands (BVI) continues to be the jurisdiction of choice for the China and there continues to be a demand for BVI business companies and other corporate structures. The fact that BVI companies are used for such diverse purposes – as listing vehicles, joint venture companies, asset holding companies and open and close-ended fund vehicles – highlights the role and sustainability of the BVI as a...

2015

When was trust law introduced in your jurisdiction? The British Virgin Islands (BVI) is a well-respected and sophisticated jurisdiction for the establishment of trusts.  The general principles of BVI trust law are derived from those of English trust law as developed by the English courts of equity.  Indeed, the principles of English common law and equity can be applied directly in the BVI by virtue of the Common Law (Declaration of Application) Act 1705 and the Eastern Caribbean Supreme Court (Virgin Islands) Act, as supplemented or modified by specific statutory provisions to offer a variety of flexible and user-friendly trust...

CORPORATE & FIDUCIARY Q&A - TRUST AND FOUNDATION 2015

Country:                     British Virgin Islands Region:                      Caribbean Currency:                   US dollar (USD) (US$) Languages:                English Time Zone:                 UTC -4 Phone Code:              +1284 Communications:      Good Formation Cost:        900 - 1700 USD$ Formation Time:       1-2 days Maintenance cost:     400 - 800 USD$ The economy is highly dependent on tourism and financial services. The BVI has significant mutual fund and trust sectors. The Financial Services Commission ensures independent and effective supervision...

FUNDS & FUNDS SERVICES JURISDICTION 2014

Q: Why is the BVI the pre-eminent finance centre through which Chinese investors structure foreign investment? As the prime Caribbean incorporation centre, the BVI has a significant professional services infrastructure with leading international legal, accounting and trust companies present on the island. Many such firms have offices in Hong Kong and mainland China to facilitate business locally.  The BVI international business companies legislation dates from 1984 and is well understood by financial institutions around the world. The combination of reliable company law and fiscal neutrality presents an ideal platform for cross border trade and investment. Q: What are the most popular...

CORPORATE & FIDUCIARY Q&A - COMPANY FORMATION 2014