Business For Sale British Virgin Islands | Business For Sale Listings
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Get to Know About British Virgin Islands
British Virgin Islands (BVIs) is a country in the Caribbean east of the US Virgin Islands. The capital is Road Town. BVIs are a popular travel destination for tourists who want a laid back life. Popular activities in the islands include sailing, going to the beach, sunbathing, and fishing. BVIs are not for people traveling on a budget. The place is a bit pricey. Doing Business in the British Virgin Islands is great if your target market is the upper-class people.
British Virgin Islands had registered a GDP of 1.027 Billion US dollars in 2017. It is considered as one of the prosperous states in the Caribbean. BVI is said to have a balanced economy with its sectors on tourism and international business and finance center. There are many offshore banks in BVIs and investors. They primarily do that for tax avoidance. If you put your money in a bank in your country, it will be taxed. Whereas, if you put it in an offshore bank, you may argue to authorities that they are foreign investments, which are not taxable.
The disadvantage of investing in BVIs is its difficulty in business processes there. Work permit could take 7-10 weeks while obtaining a trade license would require you a lot of papers. It would include a business plan or proposal that shows your technical and financial capabilities.