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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.

If you would like a demo of our Subscription area, please reserve a day/time that suits you best using this link, or you may Contact Us for further information.

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 GDP, and tourism, contributing approximately 40-45% to national income. The territory is recognized as a significant offshore financial center, benefiting from substantial revenue generated through licensing fees for offshore companies, and enjoys a relatively high per capita income of around $47,000 in 2022.

The investment climate in the British Virgin Islands is favorable, supported by its reputation as a tax haven and a well-regulated financial services sector. The government has established tax exchange agreements and improved regulatory frameworks to attract international investors, while aligning its governance with international standards to enhance investor confidence.

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  • Executive Summaries
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  • Key Findings
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