Corporations in British Virgin Islands

BRITISH VIRGIN ISLANDS (BVI)

The British Virgin Islands (BVI) are a group of about 46 small islands in the Caribbean Sea, Tortola being the main one. The islands are located about 60 miles (97 kilometers, approximately) east of Puerto Rico and have a population close to 24,000 inhabitants.

Although the BVI have independent jurisdiction, they remain a British colony and their foreign relations remain under the protection of the United Kingdom. Its economy is essentially based on tourism and international trade.

Business companies (BBC) of the British Virgin Islands that do not conduct business activities within the BVI have the following benefits:

They are not subject to income tax, or dividend taxes, or income taxes. In addition, BVI non-residents do not pay taxes on capital gains derived from the sale of shares or corporate assets.

They do not require the presentation of a declaration of income, nor any type of annual report or affidavit before the BVI authorities.

There are no restrictions, levies or inspections on currency exchange. The US dollar (USD$) is the official currency of the island.

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