The British Virgin Islands is an archipelago of over 40 islands, of which 16 are inhabited. Discovered by Columbus who's said to have been so impressed by their large numbers, he called them "Las Virgenes" in honour of St. Ursula and her 11,000 virgins, they lie to the north west of the U.S. Virgin Islands. The neighbour with the largest land area is Puerto Rico, 96 kilometers to the west. Apart from Anegada, which is a flat reef surrounded island of coral limestone, the islands are hilly and enoy a subtropical climate. Their biggest tourist attraction is their beautiful beaches.
Population
The population is approximately 23,000 people, the largest and most populous island is Tortola which has about 18,000 inhabitants. 90% of the population are of African descent, while the rest of European, Indian or mixed race.
The capital, Road Town, is located on the southern shore near Sir Francis Drake Channel. Tortola is connected by a road bridge to Beef Island and the local airport.
Political structure
In 1672, Britain claimed Tortola. At the same time, Denmark claimed her sovereignty over St. Thomas & St. John, then in 1773 Denmark purchased St. Croix from France. The Danish islands were sold to the U.S. In 1917 for U.S. $25 million. The relationships between the U.S. and British Virgin Islands are good.
The British Virgin Islands is a British overseas territory with with a self-government in most internal affairs. Under the 1977 Constitution, HM Queen Elizabeth II, is represented by a governor in charge of external affairs, defense, internal security and public service, with the reserved legislative powers necessary for the exercise of special powers. On all other matters, the Executive Council has authority.
Executive Council consists of the Governor, Chief Minister, Attorney-General and 3 other ministers appointed by the governor from the Legislative Council on the advice of the Chief Minister. The Legislative Council has a four year term and consists of a speaker, thirteen directly elected members & the attorney-general.
Infrastructure & Economy
There is an excellent daily air service between the islands and the U.S.. Cruise ships call each week to the islands and there are freight carriers.
The economy, one of the most prosperous in the Caribbean, is highly dependent on the tourism industry, which generates approximately 21% of national income.
In 1984, the government offered offshore registration to companies wishing to incorporate in the islands, which by 2006, the number of incorporated companies was greater than 750,000, incorporation in the first three quarters of 2006 exceeded 51,000 which makes British Virgin Islands the leading offshore jurisdiction. The BVI is the only Caribbean jurisdiction to boast the presence of the largest offshore law firms in the region and the legal presence in the territory continues to expand. The financial sector and the registration of ships is now generating approximately 50% of government revenue.
Language
The official & spoken language is English.
Currency
U.S. Dollar.
Exchange Control
None.
Type of Law
Common Law, based on English Common Law with local modifications & local statutes.
Principal business law
The Companies Act (Cap. 285) & BVI Companies Business Act, 2004.
(The BVIBC Act). All companies previously incorporated under the International Business Companies Act, 1984, automatically became subject to BVIBC law from 1st Jan 2007.
We specialise in the following British Virgin Islands company services:
company incorporation in British Virgin Islands - British Virgin Islands company formation - companies in British Virgin Islands - businesses for sale in British Virgin Islands - starting a business in British Virgin Islands - business opportunities in British Virgin Islands - setting up business in British Virgin Islands - British Virgin Islands business services - British Virgin Islands international trade - investment opportunities in British Virgin Islands - incorporation of new British Virgin Islands businesses - multinational company services in British Virgin Islands - British Virgin Islands formations with bank account - small business setup in British Virgin Islands
Offshore Services
Client Testimonial
From day one I have never regretted choosing such a great service - 5 star quality with everything.
- John Smith, JS & Co LLC.
Office Information
The Fairmont Dubai
6th Floor, Office 605
Sheikh Zayed Road
Dubai,
United Arab Emirates
PO Box 75671
Tel: +9714 311 6547
Fax: +9714 332 8810
Sun - Thurs: 08:30 -17:30
