Since the adoption of its pioneering International Business Companies (IBC) legislation in 1984, the British Virgin Islands has become a high quality international financial center, and is regularly undertaking programs to expand its financial service offerings to meet the needs of international financial markets.In the 12 years since the adoption of its IBC Act, the BVI has firmly established itself as the world's premiere corporate domicile, with more than 210,000 companies registered in the jurisdiction. The BVI has undertaken an extensive legislation and regulatory program starting with the adoption of new trust legislation in 1993 and new insurance legislation and regulations in 1994 and 1995. In 1996 the legislative calendar included the passage of legislation on mutual funds and limited partnerships.

Based on the BVI's integrity, flexibility and responsiveness to the interest of the financial community, it has become the only Caribbean Dependent Territory to which the British Government has devolved responsibility for developing and managing its own financial services.The BVI's operating advantages are:   . uncomplicated, swift approval procedures. . innovative, flexible legislation.  . zero tax rate for offshore entities, low tax rate for BVI entities; and no wealth capital gains or estate taxes.  . maximum privacy and confidentiality.  . asset security, and the freedom to transfer and merge assets.  . protection of wealth benefits, inheritance wishes and trust interests.  . minimum requirements in relation to (for example) the insurance of shares, designation of directors and shareholders, and maintenance of records. . legislative exemptions for qualified institutions.The advantages offered by the legislation have attracted many blue chip international service firms to the BVI. The financial services community presently includes six out of seven major worldwide accountancy firms, domestic and international legal practices, on and off shore banks, and insurance companies. International trust and management companies are prevalent, all staffed by a well trained local and expatriate labor force. Please go to LINKS PAGE for further information