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 types of entity that are established in the BVI?
The BVI Business Company (BVIBC) is synonymous with the offshore company in Asia. Over 1,500,000 Business Companies have been incorporated with a significant proportion on behalf of Asian clients. The BVI also has innovative trust legislation including the Virgin Islands Special Trust (VISTA trust), designed to enable the settlor to retain control of a business whilst leaving custody of the assets with the trustees.
Q: What is the BVI stance towards regulation and exchange of information?
The trust and corporate services industry has been regulated by the Financial Services Commission since 2001. The BVI support the G8 initiative on tax, trade and transparency striking a responsible balance between commercial confidentiality whilst embracing international standards in the prevention of tax evasion and money laundering.
