Its location has made the archipelago a Mecca for yachting enthusiasts and the islands are known as one of the best and safest sailing destinations in the world, with reliable trade winds, near perfect weather and a choice of secluded and intriguing bays to visit.
The largest island, Tortola, is the yachting capital of the Caribbean and the territory’s main commercial centre, its beautiful mountainous slopes endowed with tropical fruits and flowers.
The islands have a sub-tropical climate with high humidity, although temperatures are moderated by trade winds.
The BritishVirginIslands has succeeded in avoiding the necessity to involve the principal in hefty fees, duties and charges by virtue of its uncomplicated operating procedures and statutory requirements and has justly earned a reputation as one of the least costly offshore centers worldwide.
In the BritishVirginIslands, stamp duty is charged at a rate of US$1 on each US$500 or part thereof when a trust is set up unless an IBC (International Business Company) is the settler (grantor) or trustee, in which case the transfer to the BVI trust is exempt from the stamp duty.
Non-British VirginIslands incorporated companies may also change their domicile to the BritishVirginIslands by lodging Articles of Continuation there, from which time they are recognized by the BritishVirginIslands Government as having a legal corpus there.
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