Why You Should NOT Register a Company in the BVI

The British Virgin Islands is often marketed as a tax-free shortcut for entrepreneurs who want privacy and low costs. In reality, that promise no longer matches how the world actually works today.

For most modern businesses, a BVI company creates far more friction than benefits. Banking is difficult, compliance rules have tightened significantly, and the jurisdiction’s reputation often raises questions with clients, partners, and payment providers.

In this video, Pear from Statrys breaks down why BVI structures are increasingly impractical for consultants, ecommerce sellers, import-export businesses, and location-independent founders, and why many entrepreneurs only realise the downsides after they have already incorporated.

Key Takeaways

• Why opening and maintaining a business account for a BVI company is extremely difficult
• How new transparency and economic substance rules have changed the reality of BVI companies
• The reputational risks BVI businesses face with clients, banks, and payment processors
• Why BVI compliance and maintenance costs are often much higher than expected
• Which jurisdictions tend to work better for operating businesses today