Why the British Virgin Islands?
The British Virgin Islands is a British overseas territory located in the Caribbean Sea with 4 main islands. The British Virgin Islands are a leading international finance centre, well recognised for trusts, funds, captive insurance, and companies.
The British Virgin Islands are democratically and politically stable, economically secure and tax neutral. They are a member of the International Organization of Securities Commissions (IOSCO) and the British Virgin Islands Financial Services Commission ensures complete adherence with all international regulatory standards.
International businesses have been attracted to the British Virgin Islands for their strong and easy to understand legal framework, their tax neutrality, modernised legislation, and reliable control policies. In 2017, the British Virgin Islands were referred to as “one of the largest jurisdictions for regulated funds in the world” by Capital Economics.
History and legal system
Christoper Colombus arrived in the British Virgin Islands in 1493, but they then remained untouched for 100 years as he left to search for gold in Puerto Rico. In the 17th century, the British, Danish, Dutch, French and Spanish fought for control over the British Virgin Islands for over 200 years. In 1672 the English captured Tortola from the Dutch and in 1680 Britain annexed Anegada and Virgin Gorda. The Danish controlled the islands of St Thomas, St John and St Croix, and in 1917 when the United States bought the Danish Islands and renamed them the U.S. Virgin Islands, the British renamed the islands as the British Virgin Islands. The British Virgin Islands were previously part of the British Leeward Islands with St Kitts and Nevis, before they became a separate English colony in 1960 and autonomous in 1967.
The British Virgin Islands have an independent legal and judicial system, but as a British Overseas Territory, their legislation it is largely based on the British legal system and English common law, and the right of final appeal being to the Privy Council in London. Executive authority lies in the monarch of the United Kingdom, exercised by the Governor of the British Virgin Islands.
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