In August 2020, the British Virgin Islands’ Financial Services Commission introduced its Financial Services Regulatory Sandbox Regulation.   What exactly does this mean?  What is the purpose?  Let’s break it down.    What is the British Virgin Island Financial Services Commission? The 2001 British Virgin Island (BVI) Financial Services Commission Act...

The British Virgin Islands is one of the world’s leading financial centres and by far, the premier choice for corporate domicile.  The BVI is highly regarded as a stable and safe jurisdiction and incorporating your business there, offers numerous benefits, the most important of which include: Zero Taxation:  BVI does not levy taxes on corporations. This means no income, capital...

The British Virgin Islands ("BVI") continues to demonstrate its commitment to ensuring that its financial services industry is aligned with international best practices, as set by bodies such as the Global Forum on Transparency and Exchange of Information for Tax Purposes and the Financial Action Task Force. Significant changes have been made to the BVI Business Companies Act, 2004 with the...

In February 2021, the British Virgin Islands (BVI) replaced the Department of Trade & Investment Promotion with a new regulatory agency aimed toward improving trade relations.   The newly established Department of Trade & Consumer Affairs will generate programmes and policies and also take on projects to boost private sector growth investment and local entrepreneurship.  It...

In August 2020, the British Virgin Islands’ Financial Services Commission introduced its Financial Services Regulatory Sandbox Regulation.   What exactly does this mean?  What is the purpose?  Let’s break it down.    What is the British Virgin Island Financial Services Commission? The 2001 British Virgin Island (BVI) Financial Services Commission Act...

BVI adopted its offshore statute in the year 1984 to allow International Business Companies to incorporate in the territory. In 2004 it updated its statutes and launched the BVI Business Company.  Its solid regulatory structure, dependable government, modern offshore legal structure, and accommodating business procedures attracted many companies. A BVI Business Company can be incorporated...

In 1984, BVI introduced the International Business Company (IBC) Legislation, allowing businesses to incorporate in the territory.   Its solid regulatory structure, dependable government, modern legal structure, accommodating business procedures and opportune timing, attracted worldwide attention and catapulted the BVI to become the world most popular choice for offshore corporate...

In August 2020, the British Virgin Islands’ Financial Services Commission introduced its Financial Services Regulatory Sandbox Regulation.   What exactly does this mean?  What is the purpose?  Let’s break it down.    What is the British Virgin Island Financial Services Commission? The 2001 British Virgin Island (BVI) Financial Services Commission Act...

In April 2021, the British Virgin Islands (BVI) government passed the Data Protection Act (DPA).   The DPA became effective 9 July 2021.  (Though BVI is a United Kingdom territory, it is not subject to Europe’s General Data Protection Regulation [GDPR]).  The DPA’s main goals: protect the personal data that public and private bodies process.   boost personal...