Development as an Offshore Centre
The British Virgin Islands is arguably the world leader in offshore company incorporations. Flexibility has been a critical factor in explaining this phenomenal success. BVI companies can be used for a wide range of purposes, including acting as a holding company for multinational and global corporations, by trusts for asset protection, collective investment and holding intellectual property. These companies offer the maximum privacy and confidentiality available in a jurisdiction that is regulated, but not bureaucratic and is committed to assist the international community fight against money laundering.
Both service providers and the British Virgin Islands Government recognise that this success has evolved through prudent regulatory policies developed through the Government's partnership with the private sector. Given the limited manpower and a shortage of natural resources, the Territory's leaders of the 1960s decided that the British Virgin Islands should focus on servicing the requirements of people of high net worth. This translated to up-market tourism and offshore financial services.