The British Virgin Islands (BVI) is a small island nation in the Caribbean Sea. It has the legal status of a British Overseas Territory. The economy of the Virgin Islands is based on tourism and offshore business. The government of the country consistently pursues a policy of tax transparency and strengthening the regulatory framework, which attracts an increasing number of non-residents to its territory for doing business. Currently, the BVI is one of the classic key destinations for creating offshore companies.

Advantages of BVI for Company Registration

Entrepreneurs registering an offshore in the region are attracted by the special conditions created on the islands for the successful implementation of business ideas:

• preferential taxation for foreign companies - no income tax, zero withholding tax rates on dividends and royalties;
• use of the US dollar as the main currency;
• simplified company registration procedure, low maintenance costs;
• absence of currency control, as well as restrictions on doing business in other countries;
• high level of confidentiality - information about the directors and beneficiaries of the company is stored in a closed register with limited access.

What Business is Suitable for an Offshore in BVI

Registering a company in the classic BVI offshore is a good option for both startups and expanding an existing business. An offshore company in the Virgin Islands can be registered to conduct various activities: holding, investment, service, trading, and providing consulting services.

IT enterprises related to the creation, development, implementation, and support of software, networks, and data storage systems can be very successful. Registering an offshore in the Virgin Islands opens up numerous opportunities for development in such IT areas as:

• web and application development,
• IT consulting,
• outsourcing,
• advertising,
• cybersecurity,
• cloud services, and other technological solutions.

How to Open an Offshore in BVI

If you plan to open an offshore company in the British Virgin Islands, it can be done in the shortest possible time. To discuss the details, contact the specialists at IT-OFFSHORE.