Why is British Virgin Islands a tax haven?
Why is British Virgin Islands a tax haven? British Virgin Islands is a country famous for having very favorable tax policies, earning the title of a tax haven. What contributes to this state is the absence of a transfer pricing rule, a deduction limitation rule or any anti-hybrid rules. The country does not follow any general anti-avoidance rule.
How does British Virgin Islands make money?
The economic mainstays of the British Virgin Islands are tourism and financial services. Tourism—based on the nearly perfect climate, sparkling beaches, tropical vegetation, and undersea coral reefs—provides about half of the islands' income and is the largest employer.
Is crime bad in the British Virgin Islands?
Levels of crime in the BVI are low. However, some serious incidents do occur including armed robbery and drug-related gun crime. Take sensible precautions to protect your personal safety and belongings, as you would at home: carry a mobile phone with roaming capability.
Where can I live to avoid UK tax?
- The Bahamas. The jewel of the lavishly decorated Caribbean crown, The Bahamas are a nil-tax haven which means you won't have to pay any of the tax that you would have back home. ...
- Jersey. ...
- United Arab Emirates. ...
- Monaco. ...
- British Virgin Islands. ...
- Bermuda. ...
- Switzerland.