The British Virgin Islands (BVI) is a UK overseas territory located in the West Indies, near the Caribbean, and consists of 42 islands and rocks. Virgin Islands is a Caribbean tourist destination boasting a clean environment and a variety of well-protected harbours. The country enjoys one of the most sustainable economies of the region with an equally high standard of living and attracts close to a million visitors a year from all over the world. These tourists enjoy beach holidays, diving, sailing and wind surfing.
The local population is 27,500. The national capital is Road Town.
English is the official language.
The US Dollar is the official currency.
BVI is a major offshore zone and a widely acclaimed leader among the conventional offshore jurisdictions with zero taxation. Offshore and banking sectors, along with licence fees, tourism and services, are the main factors of the sustainable national budget. The firm reputation of the BVI financial services sector is evidenced by a strong and stable inflow of international investment.
The incorporation and operations of international business companies is regulated by the Business Companies Law of 2004, as amended. The Law has removed the distinction between local and international companies. In addition, the Law has introduced the new legal environment, setting the corporate tax rate at 0%.