This publication has been prepared for the assistance of those who are considering the formation of insurance companies in the British Virgin Islands. It deals in broad terms with the requirements of British Virgin Islands law for the establishment and operation of such companies. It is not intended to be exhaustive but merely to provide brief details and information which we hope will be of use to our clients. We recommend that our clients seek legal advice in the British Virgin Islands on their specific proposals before taking steps to implement them.
Before proceeding with the incorporation of an insurance company in the British Virgin Islands, persons are advised to consult their tax, legal and other professional advisers in their respective jurisdictions.
Copies of the Insurance Act together with the related regulations are available from the firm on request.
References to “$” mean the United States Dollar which is the currency of the British Virgin Islands.