BVI Gets Great Reviews From Top Investment Company

By Mellica McPherson

Renowned international investment company Liberty Enterprise Inc. listed the BVI as one of their top ten tax havens of the world.

On the Liberty Enterprise’s website that receives literally hundreds of visits from investors daily, the company presented useful information about the Territory’s Financial Sector in an attempt to persuade investors to utilize the BVI’s unique benefits and services.

Other countries mentioned were Switzerland, Panama, Belize, Gibraltar, Jersey, Liechtenstein, St. Kitts & Nevis, Costa Rica, and Antigua.

It appeared as if a country’s geographical location impacted its choice as an offshore centre. This seemed evident as Liberty Enterprise drew attention to each country’s location and demography. The company gave a powerful and enticing description of the BVI’s location and physical attributes, as they pointed out that, “the British Virgin Islands has excellent airline connections with Puerto Rico’s capital of San Juan, which is a major hub for American Airlines. BVI offshore services industry enjoys the advantages of having responsibility for its internal self-government, while maintaining the political and economic stability of a British overseas territory.”

As the report continued Nature’s Little Secret kept looking more and more attractive to investors. Special highlights were made of the fact that International Business Companies (IBC) can be incorporated locally under the International Business Companies Act, 1984

Liberty Enterprise was keen to mention that investors who choose to do business in the BVI are allowed to operate completely tax free as long as they do not conduct any business locally--“this makes the BVI a very attractive vehicle for international business owners looking to collect profits in a tax free friendly environment,” the experts wrote.

The professionals were also sure to point out that the BVI is regarded by specialized individuals as one of the world’s best offshore tax havens. According to Liberty, investors have praised the Territory for: the strict and complete confidentiality that is protected by law, the Territory’s commitment to integrity, the political stability found in the BVI, common law jurisdiction, the fact that English is the first language of residents, competitive pricing, the reality that their is  complete tax exemption from local levies, the US Dollar is the official currency, and there is NO exchange controls whatsoever.

Special mention was also made of the fact that the Territory has an established professional infrastructure, there is ease of transfer of companies to and from the BVI, plus modern, flexible mutual fund, insurance and trust legislation. The professionals were also keen to mention that the Territory had some advantages that were second to none, such as the requirement of Directors. Where many jurisdictions require more than one, the BVI calls for only one director and one shareholder. In addition to that there are no requirements to appoint a secretary or any other officer, and shareholders, directors and officers can be individuals or corporations. Added attention was drawn to the fact that same day name approval is available, and that BVI incorporating can be established within five days, leaving no wasted time for businesses.

What was even more remarkable was that the company made sure to point out that the BVI has technological advancement. The experts said that, “there are no requirements to hold shareholders' or directors' meetings in the BVI since meetings can be held by telephone or other electronic means.”