BVI celebrates 30-years Anniversary of IBC Act

24.09.2014

 Authorities of British Virgin Islands hold celebrations with regards to the 30-year anniversary of International Business Companies Act, which was adopted in 1984. This law allowed BVI to become international financial center. BVI International Business Companies Law considered one of the most successful legislation pieces in Caribbean Region and it was used as a base for the same type of legislation in many other jurisdictions.

Special exhibition dedicated to the creation of the Act opened its doors as well as interview with its creator was translated on TV, and also meeting with the main partners of BVI were conducted. One year anniversary of the opening of special BVI House in Hong Kong is also in one year with 30-years Anniversary of IBC Act. BVI and Hong Kong are historically well connected.

Source: http://www.finance.gov.vg/News/tabid/62/articleType/ArticleView/articleId/576/Financial-Services-Feature-Programme-To-Be-Aired-Live-On-JTV.aspx

Expert’s opinion

 BVI is stable in its deserved popularity as jurisdiction commonly used in tax planning schemes all around the world.

The number of companies registered in BVI increased several times since the imposition of sanctions.

It is very convenient jurisdiction for trade and saving of assets abroad.

Yaroslav Lomakin ( Managing Partner, Honest&Bright)