The business and financial sector, along with tourism, are the two main business sectors in the British Virgin Islands. The location is a favorable one and has long been established as a financial sector because of its tax neutrality as well as the adequate balance between transparency and privacy for foreign investors.
Financial services broadly refer to those types of services that relate to asset and money management and investment. Included here are banks, insurance, and reinsurance companies, trusts as well as others. Offshore financial services target companies and individuals who are interested in conducting these types of business or financial activities around the world. BVI is one of the largest offshore centers for the incorporation of companies in the financial sector.
Entrepreneurs who invest in BVI’s financial industry find that the business climate is a favorable one and that the conditions for incorporating and running a business are favorable irrespective of the size of the company.
Our team of BVI company formation agents is here to assist entrepreneurs who are interested in starting a company in the financial industry and are in need of more information about the conditions and the regulations in force.
The business and financial center is an important part of the British Virgin Island’s economy. It accounts for approximately 33% of the GDP and it has created thousands of jobs. The workforce in this sector is an international one and many employees are expatriates. This means that entrepreneurs who invest in the financial industry have access to a talented pool of workers and can choose to hire foreign employees, should they be the ideal candidate for a given company position.
As far as the regulation of the companies in the financial industry is concerned, the main regulator is the BVI Financial Services Commission, an autonomous regulator who is responsible for the inspection and supervision of the legal entities, apart from the actual regulation. The regulated activities include the following: insurance and banking, fiduciary services, trustee businesses, investment businesses as well as other legal entities involved in related activities.
Our team can provide adequate details about the ongoing regulations for companies and can answer some of the most commonly asked questions. Reach out to our BVI company incorporation agents for complete details about the Financial Services Commission requirements.
Foreign investors can easily open a BVI offshore company. The process can be accomplished in approximately two days when all the documents are prepared as required. Below, we highlight these main steps:
Those investors who have lived in the Islands for some time running this type of company can apply for British Virgin Islands residency assisted by our experts.
Regardless of the chosen business sector, the following reasons rank high for all entrepreneurs who are interested in BVI company incorporation:
If you are a long-term investor, you can consider applying for British Virgin Islands residency.
The following information is available on company incorporations in BVI according to the Statistical Bulletin presented by the Financial Services Commission:
Please contact our BVI company formation specialists for more information about the conditions for investing in the financial industry as well as complete details related to company incorporation.
