Located in the Caribbean, the British Virgin Islands (BVI) is famous for its white sandy beaches, lush mountain terrain and famous shipwrecks. A hotspot for tourism, the BVI is also a popular jurisdiction for many to base their offshore banking, thanks to its stable government, well-regulated legal system and flexible legislation for opening an account.
While every jurisdiction attends to different benefits, the BVI is a good all-rounder for providing legal and financial advantages to you, as the account holder. Here are some of BVI’s favourable conditions in more detail:
The BVI is a highly reputed jurisdiction and has never been blacklisted. It has enjoyed a long and stable political history and the financial services and tourism sectors have brought considerable wealth to this tiny island nation. This sense of stability adds an extra layer of protection to your purchasing power and assets.
One of the most alluring factors for offshore banking in the BVI is the imposition of no corporate income tax. That includes no taxation on your investment income or capital gains, as well as no inheritance, gift or estate taxes.
The BVI adhere to strict confidentiality laws that guard the privacy of legitimate transactions. These laws give you anonymity while ensuring that your personal information is kept safe and undisclosed. However, it is important to keep in mind that this could change in the future.
SIMPLE SET UP
With help from an offshore specialist, the opening of a BVI offshore bank account is a simple process as it can be completed online and without the need for you to visit the island in person. Furthermore, the BVI government provide flexibility to act quickly upon opening an offshore account, so you can transfer money and move your assets efficiently.
HERE TO HELP
At Turner Little, we have over 20 years of experience in international banking and have a thorough understanding of offshore banks and the rules for each jurisdiction, including BVI. And for further peace of mind, our BVI offshore personal and corporate accounts come with internet banking, a card facility and the ability to transact internationally.
Interested in opening an offshore bank account with us? Speak to a member of our trusted team today.