ARTICLE · 22 OCTOBER 2004

Virgin Captives

British Virgin Islands International Finance Centre

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BVI is home to more than 500,000 International Business Companies (IBCs). An IBC is a corporate vehicle having limited liability, which, provided it has no business activities in the British Virgin Islands, is wholly exempt from BVI tax on its income and from inheritance or estate tax on its shares. Only a nominal annual fee is payable to the Government (in most cases US$300).

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Article by Conor Jennings

Did you know that the British Virgin Islands is the fourth largest offshore domicile for captive insurance companies in the world? Probably not. If people do know anything about BVI it is usually that it is the largest sailing charter centre in the world, that it has a lovely climate and that it has some of the most beautiful beaches in the Caribbean. You may even know that Richard Branson of Virgin Atlantic owns one of BVI’s islands.

For those of you who are more interested in what actually makes BVI tick and what makes it so special and unique, then just peep below the surface of BVI’s turquoise waters and brush aside some soft sand and you will discover a whole new type of paradise.

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