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Benson Formations

British Virgin Islands Companies generate $14 bn each year in taxes.

There are over 375,000 active BVI Business Companies (with approx. 57% owners from Asia and 16% from Europe and North America) facilitating an estimated $1.4 trillion in cross-border trade and investment, supporting around 2.3 million jobs globally and generating $14bn each year in taxes for governments worldwide.

A comprehensive report of UK consultancy Pragmatic Advisory commissioned by BVI Finance (‘Beyond Globalisation: The British Virgin Islands Contribution to Global Prosperity in an Uncertain World’ – https://bvifinance.vg/The-BVI-Advantage/Beyond-Globalisation) has assessed the role and highlighted the value of the British Virgin Islands (BVI) as a globally respected international business and financial centre.

According to the report there are over 375,000 active BVI Business Companies (with approx. 57% owners from Asia and 16% from Europe and North America) facilitating an estimated $1.4 trillion in cross-border trade and investment, supporting around 2.3 million jobs globally and generating $14bn each year in taxes for governments worldwide.

Hence, the report provides clear evidence that the BVI plays a key intermediary role in the global economy by facilitating investment, stimulating economic growth, creating jobs and providing governments with tax revenues. The facts prove that is it a well-regulated jurisdiction and it will remain an important international financial centre in foreseeable future irrespective of the form the globalisation will take.

Do you want to know more about doing business in BVI and setting up your company there? Drop us an email (office@bensonformations.com) or give us a call (+44 20 3974 1244) at any time.

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