Go virgin? | British Virgin Islands | BVI
The British Virgin Islands are a very famous tax haven, with a beautiful territory.
In particular, they became famous after being portrayed in numerous movies and novels. They also gained notoriety from the fact that this is where the famous Necker Island is located, Richard Branson's private island paradise. A stunning and unspoiled area of the Caribbean.
But let's talk about taxes. In the British Virgin Islands, you will not have to pay any income tax or capital gains tax. You will not have to pay inheritance or gift taxes.
You will not have to pay corporate taxes or taxes on dividends. You won't have to pay any sales tax or value added tax either.
However, the total tax free situation changes if you work in the British Virgin Islands. In fact, the people employed in the B V I and the companies operating in the territory, pay some taxes.
Mostly related to the paycheck of the employees, and to the social security. As a rule, the employer pays one part and the employee pays the other, according to rates established by law. On closer inspection there are many positives of the B V I , in addition to the
tax aspects.
On one hand, the geographical location and the presence of connections, allows you to travel easily from the B V I to both United States, and Europe.
Communications are also good, including telephone services, internet services, and postal services. After all, it is still one of the main offshore financial centers.
Furthermore, the official language is English.
In the next episode we will talk about many other aspects related to lifestyle. We will see if it is an expensive place or not, when compared with other tax havens.
We'll see if it's a safe place, and we'll mention the real estate market. All to reserve the last episode for offshore companies in the B V I . There we will talk about one of the most interesting tools in the international tax landscape, which you can find almost only here. That's all for today.
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