About the BVI
The British Virgin Islands (BVI) are a group of islands located about sixty miles due east of Puerto Rico. The principal islands are Tortola and Virgin Gorda. Road Town is the capital city and financial center of the BVI, located on the island of Tortola. As a British Overseas Territory there is a long and ongoing history of political stability.
BVI Law is based on the British Legal System and English Common Law. English is the spoken and official language of the islands and the local currency of the BVI is the United States Dollar. There are no exchange controls and no restrictions on movement of currency. International banking, commercial and financial services are widely available in Road Town, and communication facilities in the BVI are of an excellent standard.
Although other offshore financial centers have tried to replicate the International Business Company Act, the BVI has remained the leader in this field with over 500,000 IBC’s registered.
The BVI is also a favored and reputable domicile for the establishment of offshore investment funds and their administration. Today, BVI has more than 2,500 licensed mutual funds and the number continues to grow as fund promoters and investment managers take advantage of the islands sound infrastructure, competitive fees and light but robust regulatory environment.
The BVI’s infrastructure includes top four accounting firms, high quality law practices and fund administrators, international banks and telecommunication companies. The financial services industry is supervised and regulated by the BVI Financial Services Commission (http://www.bviifc.vg/ ) which safeguards the integrity and reputation of the islands and overseas the introduction of cutting edge legislation.