General Overview. This offshore jurisdiction is one of the most known and commonly used places for offshore business purposes. It has developed a well-regulated business environment, and an offshore BVI company is one of the most widely-used offshore entities by international investors and entrepreneurs. The jurisdiction is known for its efficient offshore trusts and offshore investment fund management services, but it has not opted for being a leader in offshore banking.
Banking Sector. The government decided not to encourage the establishment and growth of the banking sector, even though there are several local and international banks in the jurisdiction at present. Even though in the past the local authorities were not enthusiastic about issuing new offshore banking licenses, after the jurisdiction has proved itself as a well-regulated country which adheres to international anti-money laundering standards, there is a high international interest in establishing an offshore bank there, and the government becomes more responsive.
Investment Funds. The BVI is one of leading jurisdictions which provides efficient offshore investment fund management services. It is possible to manage the following types of open-ended investment funds from the BVI: private, professional and public funds. The relevant license is issued to entities which satisfy the necessary criteria and comply with the outlined procedures stated by the government. This market segment is at the same time well-regulated, flexible and tax-efficient.
Trusts. Offshore BVI trusts are used by international entities for tax-optimization and asset protection purposes. The jurisdiction is one of the world leaders in offshore trust formation and management.
Insurance Sector. Even though the Cayman Islands and Bermuda are captive insurance leaders of the region, the BVI offers advantageous and well-regulated environment for establishing and managing offshore insurance business from the jurisdiction for significantly lower prices than the above mentioned offshore countries.
Ship Registry. Ship registration and management is a well developed market segment in the BVI. Registration procedures are rapid and efficient for operating vessels of different types and sizes.