Coral reefs and white sands have made the British Virgin Islands one of the world’s premier locations for yachting and cruising. Coupling a long history with the United Kingdom and the proximity to the United States of America, Puerto Rico and the Caribbean, the British Virgin Islands now has a reputation as a leading offshore jurisdiction with over 550,000 companies registered in the jurisdiction. This offers professionals challenging and interesting work, as well as that much sought after quality of life.
Consisting of approximately 60 different islands, the British Virgin Islands are located in the Virgin Islands archipelago, a few miles east of the US Virgin Islands. The North Atlantic Ocean lies to the north of the islands, and the Caribbean Sea lies to the south. Most of the islands are volcanic in origin and have a hilly, rugged terrain, with stunning views of surrounding islands. The flights from the UK take approximately 10 hours.
The temperature varies little throughout the year. Average temperatures in the summer are 84oF (29oC) and in the winter, 77oF (25oC). The population is approximately 25,000.
The British Virgin Islands has no direct tax and this fact, coupled with its proximity to the US, makes it a key financial centre for corporate and personal investors. Professionals in the British Virgin Islands work under a common-law based legal system.
Living and working in the British Virgin Islands
The British Virgin Islands is a comparatively new offshore jurisdiction. The professional community contributes to a vibrant and entrepreneurial spirit following the emergence of international businesses on the islands.Due to its size, the British Virgin Islands offers its professionals the opportunity to work in smaller teams than they are used to and therefore become integral to the business they join. However, this does not mean that the work and client base is not exceptional. Professionals work closely with their clients in an environment where they will be treated as a valued member of the team.
Commuting distances are negligible which mean there is more time to enjoy outside work pursuits.
The islands have a thriving sporting and social community and it is easy to make friends in a place where there are so many like minded people keen on water sports, socialising and their careers.
Salaries are uniformly high and with the favourable tax position of a flat 8% income tax, UK professionals are roughly 25% better off in real terms. Professionals from Canada, New Zealand, Australia and other commonwealth countries could find themselves earning two or three times their current salaries. Relocation expenses and temporary accommodation and transport are also included as standard in most packages.