British Virgin Islands - BC/Other jurisdictions

The British Virgin Islands (BVI) are a dependent territory of the United Kingdom, situated in the Caribbean region on an archipelago consisting of 50 islands. The main island is Tortola, with a population of 16,000. Officially the Head of State is the Queen of the United Kingdom, but local power is exercised by a governor appointed by the Queen. The main sources of revenue are tourism and the financial and offshore sector.

In 2004, former BVI legislation (the International Business Companies Act 1984), had been replaced with new one -  the BVI Business Company Act 2004, which states total exemption from corporate tax for all types of BVI companies. Based on this, the BVI is rightfully considered to be one of the most popular classic offshore jurisdictions in the world.