BVI Named Leading Offshore Jurisdiction In New Report
by Mike Godfrey, Lowtax.net, Washington
04 May, 2017
The British Virgin Islands remains the top offshore jurisdiction in the world, according to a report released by Vistra, the global corporate services provider.
The report - Vistra 2020: The Uncertainty Principle: The State of the Trust, Fund, and Corporate Services Industry 2017 - examines trends and factors shaping the global financial services industry since the publication of Vistra's last report in 2015. It ranks the United Kingdom the number one jurisdiction (onshore), followed by Hong Kong (midshore), the British Virgin Islands (offshore), and the United States (onshore).
The report discusses the drivers that have made the British Virgin Islands the number one international finance jurisdiction in Asia. These drivers include increased client sophistication, asset protection, cross-border trade / foreign direct investment, wealth planning, privacy and client anonymity, and higher tax rates in developed markets.
The report concludes: "The British Virgin Islands is 'an embedded brand' and still the go-to for most structuring conduits."
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