British Virgin Islands (BVI)

One of the 16 inhabited islands of the 40 in the Virgin island archipelago. Located in the Caribbean, having a stable economy and great weather making it yet another place perfect for tourism and business. Being a British overseas territory, its a monarchy under the control of the queen of england Elizabeth II.

Short facts

• The official currency is United States dollar 
• Official language is English
• More that 50% of workforce comes from immigrants.

Economy

Almost half of BVI economy comes from the tourism sector and more than half of the government's income comes from the service sector, which is mostly composed of license fee for offshore companies and related services. More than 800 thousand tourists visit BVI every year, and half of them come with a cruise ship. A very small portion of the GDP comes from the agriculture and industrial field and is mostly used for self sustainment. Its considered a quite rich country for the region, having a income of over 40 thousand per capita.

Business in BVI

Business company is the type you incorporate in British Virgin Islands. Under the BVI Business Company act, these companies are not taxable in almost any corporate way. Companies in BVI have been popular a long time, but since 2004, the time when their own business act took place, they have been one off the most popular in the world.

Getting started

You could go true a lot of trouble trying to create an offshore company on your own, many firms are available that could help you with the incorporation of your business in BVI. I would recommend Baltic Legal -  British Virgin Islands or any similar company.

I may add more information to this article in the future.