Expat British Virgin Islands

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.

Climate

The British Virgin Islands are located east of Puerto Rico in the Caribbean Sea and have a very appealing subtropical climate. Besides the very warm temperatures of the islands, these islands also include a gentle breeze caused by the trade winds. There is little difference in temperature between the summer and winter months, with temperatures ranging from the high 60's to the high 80's. Unfortunately, the British Virgin Islands are sometimes frequented by hurricanes which can occur from June to November.

Government

The British Virgin Islands is categorized as a British overseas territory. It has its own governor but ultimately falls under the monarchy of the British Crown. American tourists can stay in the British Virgin Islands without a visa for up to 6 months; however a passport is required to enter. You can find out more information by visiting the British Embassy to the United States.

Tax System

For those looking for a tax haven, the British Virgin Islands delivers. There is no capital gains tax, no inherence tax, no sales tax or Value Added Tax and no capital transfer tax. The main tax vehicle is the income tax, which for individuals is about 15%. Corporations face an annual licensing fee which can vary in addition to a 15% corporate tax.

Besides these taxes, there are also certain stamp duties and property taxes.

Medical Care

Medical care in the British Virgin Islands is usually categorized as adequate. There is a general hospital and several clinics scattered throughout the islands. For serious illnesses or injuries, evacuation to the United States is usually necessary. For those working on the British Virgin Islands, you can usually find private medical insurance plans or opt for a travel insurance plan with a health care component. Make sure that medical evacuation is also included in case evacuation to the United States is necessary.

Real Estate

Purchasing or investing in the British Virgin Islands is usually straightforward and contracts are honored by the government. Homes on the island are usually priced moderately to expensive. If you choose to rent or lease a home or condo, expect prices to range from $800 to $1200 per month for a one bedroom, studio apartment or condo to over $2,000+ per month for a 3 bedroom house.

Shopping

Shopping on the British Virgin Islands is usually an enjoyable activity. You can usually find all the basic necessities without too much difficulty, however since all goods must be shipped in, you might not find your favorite items. For those looking for small shops and boutiques, there are plenty on the islands and many markets as well that target the many tourists that visit.

For those looking for entertainment, there is plenty to be found on the islands. There are lots of restaurants, bars, night clubs and plenty of activities such as snorkeling, scuba diving, fishing, boating and sun bathing.

Cost of Living

The cost of living in the British Virgin Islands is usually moderate to expensive. Expect costs to be more than in the United States especially for housing, operating a car, gas, electricity, etc. Food is also expensive on the island and entertainment can be extremely expensive since it is usually marketed towards tourists. However for those looking to live on some of the most beautiful tropical islands in the world, the British Virgin Islands can't be beat.

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.