Offshore Companies BVI


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Offshore Companies BVI

British Virgin Islands - Offshore Companies

The economy, one of the most stable and prosperous in the Caribbean, is highly dependent on tourism, generating an estimated 45% of the national income. An estimated 350,000 tourists, mainly from the USA, visited the British Virgin Islands in 1998. Tourism suffered in 2002 because of the lacklustre US economy.

In the mid-1980s, the government began offering offshore registration to companies wishing to incorporate in the British Virgin Islands and incorporation fees now generate substantial revenues. Roughly 400,000 companies were on the offshore registry by year-end 2000.

The adoption of a comprehensive insurance law in late 1994, which provides a blanket of confidentiality with regulated statutory gateways for investigation of criminal offenses, is expected to make the British Virgin Islands even more attractive to international business.

Because of traditionally close links with the US Virgin Islands, the British Virgin Islands has used the dollar as its currency since 1959.