The Governor is appointed by London and presides over the Executive Council consisting of the elected Chief Minister, the Attorney General, and three ministers. The country's Legislative Council is formed by 13 elected representatives of the people. The BVI is the fastest growing offshore business center in the Caribbean. With British law and flag, legal tender of US currency, stable politics, no currency exchange regulations and the lowest crime rate in this part of the world they are a very attractive offshore location for foreign investors. An important pillar of the economy is the booming offshore trust and company formation and management industry.
Tourism is the largest employer and generates much of the activity in other parts of the economy.
The islands offer some of the most breathtaking natural scenery in the Caribbean with superb sailing waters and many of the worlds exciting dive sites. Many international firms and private investors have taken advantage of the islands' attractive economic climate an their well-developed telecommunication infrastructure, making it easily accessible from any place in the world. In the BVI, no taxes are levied on the interest of foreign income earned by non-resident companies and IBCs. In addition, for IBC's there are no taxes in the BVI on capital, capital gains, capital transfers, accumulated wealth or gifts, nor are there succession duties, inheritance taxes or value added tax. For further information on the BVI, including tourist information, click here.