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Offshore Financial Center

The British Virgin Islands is an important offshore financial center, known for its favorable regulatory and operations structure to meet the needs of international financial markets.

An international center for the offshore International Business Company (IBC) with over 300,000 companies registered, the BVI  was an industry pioneer with its widely imitated 1984 IBC Act.

With the political stability that comes with being a British Overseas Territory, where the UK remains responsible for the courts and internal security as well as defense and external affairs, the BVI is a mature, self-governing democracy, the only such Overseas Territory in the Caribbean to have been given responsibility for managing its own financial services industry.

Known for the quality of its services, with major international as well as domestic law, accounting, banking, trust and insurance firms, the BVI system of Registered Agents, with a code of conduct and licensure by the BVI Government, works to maintain the integrity of its financial services industry.

Information Sources. The following links are a rich source of information on the BVI as an offshore financial center together with the reasons for its success.

To Offshore Ecommerce

Financial News:
Island Sun
Island Sun Wall Street Journal and European Policy Forum criticise OECD
Island Sun Congressional Black Caucus protests OECD actions
Riser Report OEDC Update
Island Sun

OECD Backs Down on Tax Havens

B-V-I Investment Guide 1/16/01: "Faced with a new unity and staunch opposition from offshore havens at a January 8-9 meeting in Barbados," the OECD backed down on the tax competition issue, after the so-called offshore tax havens "complained that major OECD members, especially the US and UK, are guilty of behavior far worse than they. . ."(see The Riser Report OECD Backs Off Ultra-Aggressive Stance Against Low Tax Countries and A Tale of Two Tax Havens for a U.S. comparison).
B-V-I Investment Guide 9/11/00: Offshore Community Responds to Tax Haven Threat. "Responses by the offshore community, such as the Isle of Man, have been to eliminate the division into resident and non-resident tax regimes, grant vital industries low or no tax exemptions instead of low or no taxes, tax non-residents low rates on source income with liberal exemptions (hopefully qualifying for tax treaty credits) and focus on attracting ecommerce with related infrastructure improvements (see The Riser Report Offshore Response to OECD-- .pdf format)." From Components Online "Tax Competition" as an Issue, International Taxation of Ecommerce
Island Sun Chief Minister leaves for London
Island Sun Overseas Territories Financial Services report to be Released in October
Island Sun C.M. off to London for Financial Services Report
Island Sun
Offshore Financial Sector: BVI Attends Special Meeting On G-7 Initiatives
Island Sun It Is Not Business As Usual, BVI Financial Services Director Robert Mathavious Says

OEDC Lists BVI as "Harmful" Tax Haven

B-V-I Investment Guide: Along with 35 other "offshore" countries claimed to provide improper "tax competition," the BVI was listed on 6/26/00 as a "harmful" tax haven by the OECD, the tax treaty organization led by the U.S., EC and their major trading partners. If not delisted by July 2001, the OECD threatens various kinds of tax retaliation.

Island Sun Financial Services Industry Continues To Be Bouyant
Riser Report Offshore Mutual Fund Taxation & BVI "Letters of Wishes" Ordered Disclosed by Jersey Court (.pdf format)
Island Sun
KPMG Recognizes BVI Efforts To Streamline Its Financial Regulatory System
Island Sun Financial Services Report viewed as useful and positive for the BVI
Adkisson Analysis IRS Goes After Holders of Offshore Credit Cards, Closely-Held Insurance Companies, Offshore Trusts in Hot Water and Tax Consequences of Foreign Mutual Fund Investing
Island Sun
Overseas Territories Financial Services report to be Released in October
Adkisson Analysis
Offshore Havens Pressured
Island Sun Registered Agents Optimistic About Offshore Industry
Island Sun Offshore Sector Worried About BVI Collapse
Island SunC.M. Defends BVI's Position As Premier Financial Jurisdiction
Island Sun Offshore Financial Jurisdictions Facing Multiple Attacks
Island Sun Financial Offshore Industry & International Crime Discussed At UK/Caribbean Forum
Island Sun CEO Conference - Hon. Fahie Talks About The Role Of The Small State In The Global Market
Island Sun Offshore Financial Sector Is Hot Topic At Conference
Island Sun BVI Fights To Defend Financial Services Industry
Island Sun Attorneys General meet In BVI For 9th Ann. Conf.
Island Sun Insinger Director Retires
Island Sun Realtors & Govt To Discuss BVI Investment Climate
Adkisson Analysis Offshore Limited Liability Companies
Island Sun
C.M. Addresses Association Of Registered Agents
Island Sun Government Hosts Successful E-Commerce Seminar
Adkisson Analysis
Offshore Asset Protection Trusts
Dead in U.S. after Anderson Case?

Island Sun
BVI Financial Services Sector to be Evaluated
Island Sun
Chief Minister Discusses Harmful Tax Competition
OECD Report on Harmful Tax Competition: Strategic Implications for Caribbean Offshore Jurisdictions
International Counselor New British Virgin Islands Mutual Fund Legislation
Island Sun
BVI Hosts First Caribbean Practical Due Diligence Symposium
Island Sun
UK Move Scares Dependent Territories Offshore Industry
BVI Government Financial News Press Releases
B-V-I Guide Business NewsLinks     Financial NewsLinks
International Counselor News Link Archive

General Information:
The Adkisson Analysis Online Newsletter Offshore Travel Links
Ernst & Young Why Choose the BVI?  CompaniesTrusts.
Financial Times of London Front Page
Financial Information Net Directory Entry Page

IFSIC Comparison of Off-shore Jurisdictions - General and Trust IFSIC Comparison of Off-shore Jurisdictions - Private Companies
IFSIC 1984 International Business Companies (IBC) Act

BVI Government's Financial Services Department has information about the following:

The information herein is presented
subject to these disclaimers.


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