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British Virgin Islands

The British Virgin Islands are a collection of 40 islands with beautiful beaches and an efficient infrastructure. They are approximately 60 miles east of Puerto Rico in the Caribbean and a two-hour flight to Miami. Only a small number of islands are inhabited. The centre of business activity is Tortola, the largest of the islands. The success of the financial sector of the BVI is due almost exclusively to it being the world’s leading jurisdiction for international business companies (IBCs), which are exempt from BVI taxes.

To read a first-hand account of life in the British Virgin Islands, click here

Law Firms

The number of law firms in the BVI has grown steadily over the past few years. Its status as a business centre has significantly increased and it has become increasingly popular as a domicile for the incorporation of funds. Again, the legal system is based on English common law. As well as some local lawyers, the law firms are staffed principally by lawyers from the UK. This is due to the fact that foreign qualified lawyers must be admitted in England and Wales to practice in the BVI.

Principal Areas of Demand 

• Corporate
• Banking & Finance
• Funds
• Commercial Litigation
• Insolvency Litigation
• Trusts

Work Permits

A work permit is required to work as a lawyer. Spouses have the right to reside on the BVI but must obtain their own work permits. Unmarried partners have no right to reside. Generally lawyers require at least two years’ post qualification experience to work in the BVI.

Re-Qualification

Under current BVI law, barristers and solicitors may become admitted in the BVI as of right as soon as they qualify in the UK.

Remuneration and Benefits

Although generous, salaries in the BVI are slightly lower than those in the Cayman Islands. The cost of living, however, is also lower. Employees pay a payroll tax of 8% and no income tax.

Lifestyle

Perfect beaches, clear blue waters and the gentle trade winds make the BVI one of the finest watersports locations in the world. The BVI are one of the world’s most unspoilt offshore locations, with friendly people, the best sailing waters in the Caribbean, horseback riding, mountain trails, outstanding diving on pristine coral reefs and a number of golf courses. There is a thriving ex-pat social scene and a good variety of bars, pubs and restaurants. Accommodation is of a good quality and is cheaper than the Cayman Islands and Bermuda. A nice two bedroom flat will cost approximately US$2,000 per month, or approximately US$3,000 – US$3,500 per month for a three bedroom flat with a pool. The local schools are good for younger children.

Getting There

From the UK you can fly directly to Antigua and then connect onto a local Caribbean airline to fly you to Beef Island Airport on Tortola. Alternatively, you can fly to the East Coast of the US (Miami and New York have the best connections), fly to San Juan Airport in Puerto Rico and then take a 35 minute journey on a small ‘island hop’ plane over to the BVI.

For further information on the legal market and job opportunities in the British Virgin Islands please contact your nearest Taylor Root office:

London:
Jamie Newbold E: jamienewbold@taylorroot.com T: +44 (0)20 7415 2828

Dubai:
Shane Morton E: shanemorton@taylorroot.com T: +971 4319 7601

Hong Kong: 
Mark Coates E: markcoates@taylorroot.com.hk T: +852 2973 6333

Sydney:
Sandra D'Souza E: sandradsouza@taylorroot.com.au T: +61 (0)2 9236 9000

Melbourne:
Tim Fogarty E: timfogarty@taylorroot.com.au T: +61 (0)3 8610 8400