British Virgin Islands Country Summary
Sanctions
No
FATF AML Deficient List
No
Terrorism
Corruption
US State ML Assessment
Criminal Markets (GI Index)
EU Tax Blacklist
Offshore Finance Center
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
The British Virgin Islands is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
The latest follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in the British Virgin Islands was undertaken in 2024. According to that Evaluation, the British Virgin Islands was deemed Compliant for 11 and Largely Compliant for 25 of the FATF 40 Recommendations. It remains Highly Effective for 0 and Substantially Effective for 0 of the Effectiveness ratings.
Sanctions
There are no international sanctions currently in force against this country
Bribery & Corruption
| Rating | 0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | NA |
Economy
The economy of the British Virgin Islands is predominantly driven by financial services, which account for about 60% of the GDP, and tourism, contributing approximately 40-45% of national income. Recognized as a significant offshore financial center, the territory benefits from high per capita income, estimated at around $47,000 in 2022, making it one of the wealthiest regions in the Caribbean.
The British Virgin Islands boasts a favorable investment climate, supported by a stable political environment and a legal system grounded in English common law. The territory has proactively implemented tax exchange agreements and regulatory measures to enhance its transparency as a financial jurisdiction, which has helped maintain investor confidence and attract foreign investment, particularly in the financial services sector.
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- Risk Analysis
- Corruption
- Economy
- Sanctions
- Narcotics
- Executive Summaries
- Investment Climates
- FATF Status
- Compliance
- Key Findings
