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British Virgin Islands: Double Tax Treaties


The British Virgin Islands have double tax treaties with the UK, Japan and Switzerland; in the last two cases, this means just that the UK's treaty with the countries concerned has been extended to the BVI. Prior to the introduction of the BVIBC Act, the benefit of these Double Tax Treaties applied only to BVI resident companies, which had to take the form of Companies Act (Cap. 285) Companies (see Forms of Company). Since the overwhelming majority of BVI companies took the form of the International Business Company, the International Limited Partnership or the Trust, all of which were exempt from taxes and fell outside the ambit of the Double Tax Treaties, offshore investors were not in a position to use the BVI Double Tax Treaties.

Since the OECD recommenced its offshore tax transparency crusade with the publication of its black/grey/white list, the BVI has entered into numerous Tax and Information Exchange Agreements to avoid being branded as an uncooperative tax haven (see below). In addition, an amendment to the tax agreement with the UK was signed in 2008, and double tax agreements with seven Nordic countries were signed in 2009.

The jurisdiction was placed on the OECD's 'white list' in July, 2009.

Latest British Virgin Islands Treaty Updates

Treaty Update: Canada - British Virgin Islands
31 March, 2014
The tax information exchange agreement signed between Canada and the British Virgin Islands entered into force on March 11, 2014.
Treaty Update: British Virgin Islands - Poland
03 December, 2013
The Government of the British Virgin Islands has confirmed the signature of its 25th tax information exchange agreement on November 29, 2013, with Poland.
Treaty Update: Netherlands - British Virgin Islands
17 July, 2013
According to preliminary media reports, the TIEA signed between the British Virgin Islands and the Netherlands entered into force on July 1, 2013.
Treaty Update: Japan - British Virgin Islands
18 April, 2013
Japan and the British Virgin Islands commenced two-day negotiations towards a Tax Information Exchange Agreement on April 18, 2013.
Treaty Update: Czech Republic - British Virgin Islands
12 March, 2012
According to preliminary media reports, on February 1, 2012, the Czech Republic ratified the TIEA signed with the British Virgin Islands in June 2011.
Treaty Update: British Virgin Islands - Various
01 September, 2011
The British Virgin Islands government ratified TIEAs with Aruba, the Czech Republic and India on August 22.
Treaty Update: British Virgin Islands - Czech Republic
22 June, 2011
The British Virgin Islands government announced the signing of the DTA on June 14, concluded on June 13.
Treaty Update: British Virgin Islands - Czech Republic
14 June, 2011
The TIEA follows OECD standards nd provides for the exchange of information by request on civil and criminal tax matters. A Protocol was also agreed to, which agrees that no prejudicial or restrictive measures will be applied to residents or nationals based on harmful tax practices.
Treaty Update: Sweden - British Virgin Islands
13 June, 2011
The TIEA had been signed on May 18, 2010.
Treaty Update: India - British Virgin Islands
01 June, 2011
The TIEA provides for the exchange of information, including exchange of banking and ownership informationm and past information in criminal matters.
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