You want to choose a respectable jurisdiction which is well regulated and is in the forefront in terms of having adopted modern and practical legislation that is conducive to the operation of any business in the today’s world. It is also very important that the jurisdiction is a strong proponent of and has adopted International Legislation for the prevention of Money Laundering and Terrorist Financing.
If you incorporate in a jurisdiction that does not subscribe to the above, the jurisdiction is likely to be on various blacklists and as such conducting legitimate business with a company based in such a jurisdiction is likely to have various challenges.
You also want to choose a jurisdiction that has:
- Strong legislation in the area of Confidentiality, Privacy, Asset Protection and Estate Planning
- Comprehensive and Well Developed Banking Facilities
- Numerous Tax Treaties with EU, USA, Asian and other Countries
- Political Stability
- Financial Stability
- No Restrictions on Foreign Exchange and Transfer of Funds
- Well Developed Legal Framework which enhances investor and creditor confidence
- A Modern Communication Infrastructure
Because it is blessed with all of the above plus more, the British Virgin Islands (BVI) stands tall as the world leading choice for offshore corporate domicile. It is also one of the most prosperous and stable economies in the Caribbean.
In addition, being a British Overseas Territory it has the benefits of having English as the main language plus having a judicial system based on English Common Law. Finally as the US Dollar is the official currency there are absolutely no currency or foreign exchange restrictions.
The BVI Financial Services Commission serves as the regulator of Financial Services in the BVI and is widely regarded as being exemplary in the execution of its regulatory activities in order to guard and protect the sterling reputation that the BVI has earned over the years. It is also always in the forefront in terms of creating and adopting new and innovative legislation when necessary to maintain the BVI’s standing as a leading international financial centre.
Click here to find more information on what it takes to establish a business in the British Virgin Islands and why the BVI is the leading international jurisdiction in which to incorporate a company.