The British Virgin Islands (BVI), officially the Virgin Islands, is a British overseas territory located in the Caribbean to the east of Puerto Rico. The islands make up part of the Virgin Islands archipelago; the remaining islands constitute the U.S. Virgin Islands.
Financial services account for over half of the income of the Territory. The majority of this revenue is generated by the licensing of offshore companies, hedge funds and related services. The British Virgin Islands is a significant global player in the offshore financial services industry with the use other world’s offshore companies . Whilst this has come with some controversy, since 2001, financial services in the British Virgin Islands have been regulated by the independent Financial Services Commission. The quality of regulation is high and the BVI prides itself on its transparency. What it is trying to achieve now is a sophisticated easy to use corporate vehicle that is as well known in London as it is in Shanghai and Hong Kong. No other corporate vehicle has come close to this level of acceptance. The BVI Business Company is also frequently used as a listing vehicle and is to be found on the LSE JSE and Hong Kong stock markets in decent numbers.