British Virgin Islands (BVI)

The British Virgin Islands (BVI) is delivering world-class performance in the two pillars that fuel its economy and define it as an island territory in the eyes of the international community; tourism and professional services. For a territory with 31,000 residents it has an outsized global impact, renowned as the sailing capital of the world and standing as an international benchmark in financial services. As well as being a historical pioneer in aspects of company incorporation and sailing infrastructure, the BVI is demonstrating agility by anticipating industry trends and evolving jurisdiction needs. 

The BVI Special Report for USA Today marks the first time BVI receives a dedicated spotlight in a leading US news outlet. It aims to broadcast BVI’s role as a historical pioneer in tourism and finance but also to highlight its current engagement in maintaining that spearhead position. 

It is important to appreciate the BVI’s global impact in its areas of strength as it shows where the market is coming from and where it is headed. In terms of maritime activity, the BVI boasts state-of-the-art yachting facilities and hosts international events of impact. The Moorings and Nanny Cay Marina are premium destinations for sailing aficionados anywhere in the world and events like the Spring Regatta unite top sailors from all corners of the globe. In terms of professional services, an average of 30,000 new companies are registered in the BVI each year demonstrating there is exceptional international confidence in this market. 

BVI is moving quickly in both areas to maintain its role as a trailblazer, by betting on the tightening of international ties and maintaining a position of innovator in areas such as financial compliance and estate management. 

Furthering connectivity and cooperation with sister Caribbean nations and North America has been a consistent strategy to bolster tourism. The first direct airplane route between BVI and US (Miami) was inaugurated in November 2023, sending immediate ripples across the hospitality ecosystem. Such was the impact that an airport expansion seems to be on the horizon with the aim of enabling flights from more major US cities such as Dallas. These routes bring BVI closer to the entire world. Importantly, the rising tide in tourist arrivals has been accompanied by infrastructure spending that ensures BVI can cater excellency to all: cruise passengers, sailors and resort guests. 

The BVI has also been quick to adapt to economic trends and compliance needs. It has rolled out impactful jurisdictional updates at a rate of one per year. The aim being to reinforce its commitment to transparency, compliance and synchronicity to global standards. All while delivering exceptional value in new areas of business. In 2021, BVI rolled out the Data Protection Act keeping up with the privacy requirements of current-day business. In 2022, it launched the Digital Assets Framework- defining how cryptocurrency and other assets can best be managed. 

With unique attributes such as a locally owned economy, BVI’s challenge is maintaining its idiosyncrasy as it pushes boundaries and moves into the future of industry. What is sure is that with its unparalleled safety, proximity to the US, community of top professionals, stunning nature and proactive government agencies: the BVI will remain a premium market in its areas of focus.