One of the many great places to be an expat in the Caribbean is the British Virgin Islands. With a great climate, stable government, and several interesting islands to live on, the British Virgin Islands are a popular destination for many expats.
The British Virgin Islands are located east of Puerto Rico in the Caribbean Sea and have a very appealing subtropical climate. The islands’ warm temperatures are accompanied by a gentle breeze that emanates from the trade winds. There is little difference in temperature in the summer and winter months. Temperatures range from the high 60’s to the high 80’s. Unfortunately, the British Virgin Islands are frequented by hurricanes, which can occur from June to November.
The British Virgin Islands is a British overseas territory. It has its own governor but ultimately falls under the British Crown. American tourists only need a passport to enter the British Virgin Islands. They may stay there for up to 6 months. There is more information about immigration at the British Embassy to the United States.
For those looking for a tax haven, the British Virgin Islands delivers. There is no capital gains, inheritance, sales, capital transfer, or Value Added Tax. The main type of tax that the government charges is income tax, which is about 15% for individuals. Corporations have to pay a licensing fee annually and a 15% corporate tax.
Besides the taxes mentioned above, there are also certain stamp duties and property taxes levied by the government.
Medical care in the British Virgin Islands is categorized as adequate. There is a general hospital and several clinics scattered throughout the islands. People who become seriously ill or injured are evacuated to the United States. British Virgin Islands employees can get private medical insurance plans or a travel insurance plan with a health care component. Medical evacuation should also be included in the event that evacuation to the United States becomes necessary.
Purchasing or investing in real estate in the British Virgin Islands is usually straightforward and contracts are honored by the government. The cost of homes on the islands range from moderate to expensive. The cost of renting a studio apartment or one bedroom condo ranges from $800 to $1200 per month, while a three bedroom house costs at least $2,000 per month.
Shopping in the British Virgin Islands is usually an enjoyable activity. Shoppers can find all their basic necessities without much difficulty. There are many small shops, boutiques, and markets on the islands that cater to both the locals’ and tourists’ needs.
The islands are filled with entertainment. There are lots of restaurants, bars, night clubs, and plenty beach activities such as snorkeling, scuba diving, fishing, boating, and sun bathing.
Cost of Living
The cost of living in the British Virgin Islands is moderate to expensive. Most items, especially houses, cars, gas, and electricity cost more than they do in the U.S. Food is also expensive but entertainment is most expensive since it is mostly tourist-centered. Anyone who wants to live on some of the most beautiful tropical islands in the world should definitely visit the British Virgin Islands.
Extradition from the British Virgin Islands
The laws of extradition from the British Virgin Islands are set by the Extradition Treaty Between the Government of the United Stats of America and the Government of the United Kingdom of Great Britain and Northern Ireland.