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The British Virgin Islands (BVI)

The British Virgin Islands (BVI) has over 2,900 recognised and registered Mutual Funds, many top law firms and auditing firms and a highly regulated and well respected Financial Services Commission. This makes the BVI a leader in the offshore finance world.

The BVI are an internally self-governing British Overseas Territory within the British Commonwealth and are located in the Caribbean 90 miles east of Puerto Rico comprising approximately 60 islands and cays, many of which are uninhabited, that contain a total population of about 25,000.

The official language of government is English and the official currency of the BVI is the US Dollar. The legal system of the The British Virgin Islands (BVI) is based on English common law.

The islands have successfully established a thriving international business industry and have developed an expertise which entirely belies the size of the jurisdiction. Over the past 15 years the mutual fund industry has grown extensively and the BVI has become a recognised and reputable center for public and private funds. In addition, there are 450,000 Business Companies registered in the BVI.

The BVI, headed by the excellent Financial Services Commission , have taken the legislation forward to meet the demands of the 21st Century (www.bvifsc.vg) with the recent introduction and implementation of the Securities and Investment Business Act 2010. The BVI is well respected by the offshore community as a safe and professional place of business, and is recognised as such by the OECD and FATF. All expatriates in the BVI working in Financial Services have to meet stringent standards by the Labour Department and, therefore, most are qualified Accountants, Lawyers, Bankers or Insurance Personnel from the United Kingdom, US, Canada and mainland Europe.