Regulating right — how new British Virgin Islands reforms work
The British Virgin Islands remains the world’s leading off-shore centre for the incorporation of international business companies, with approximately 450,000 active companies currently registered in the territory.
Approximately one million companies have been formed in the BVI since the enactment of the original International Business Companies Act 1984, which was later replaced by the BVI Business Companies Act 2004. The BVI is also the second largest domicile for offshore funds, behind the Cayman Islands, with over 2,400 funds registered in the BVI as a result of the jurisdiction’s reputation for effective regulation of funds accompanied by competitive regulatory fees.
One of the key strengths of the BVI which explains its continued success in an increasingly crowded market for offshore incorporations is that it is considered to be a responsible, respected financial centre…
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Incorporation describes the process of forming a new legal entity (a company) that is recognised at law as a separate legal person.
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