Jobs In The BVI

Relocating to The British Virgin Islands

The BVI is becoming increasingly attractive to expats considering a move offshore.

The booming economy in the Caribbean has brought increasing job opportunities for expats, but relocation can be stressful. Accounting Jobs In The BVI has addressed some of the main issues for expats considering a move to Tortola.

Getting To The BVI

Getting to the BVI is not as easy as many other offshore jurisdictions. Although the islands have Terrence B. Lettsome Airport (EIS), it does not support any direct flights from the USA, Canada, Europe or South America. Many residents of the British Virgin Islands fly to islands such as Antigua, St Maarten, Puerto Rico or St Thomas (USVI), where they connect to a short-haul flight to the BVI. 

Other visitors choose to fly in to St Thomas in the US Virgin Islands, from where they can catch the daily passenger ferry service. These are provided by Speedys, Smiths Ferry, and Native Son.

If you are relocating to the BVI you are likely to require BVI shipping services. Try one of the local agents shown below:

Baltic Shipping Co, P.O. Box 67, The Valley Virgin Gorda, British Virgin Islands.

G.E.W. Dawson, P.O. Box 7, Road Town Tortola, British Virgin Islands.

Island Shipping and Trading Co., P.O. Box 61, Road Town Tortola, British Virgin Islands.

ONeal & Mundy Shipping Co., P.O. Box 250, Pasea Estate, Road Town Tortola, British Virgin Islands.

Tropical Shipping Co., P.O. Box 250, Purcell, Road Town Tortola, British Virgin Islands.

Costs

Living on any Caribbean island tends to bring with it high costs. Very little is produced in the BVI and most products are shipped in by boat. This increases costs and items can be expensive compared to the UK or US. Housing costs are also high, reflecting the situation in other offshore jurisdictions.

BVI Work Permits

Gaining a work permit can be a complicated process, but for qualified accountants there should be few problems. Your recruitment agent or new employer should help to push through the application on your behalf but they will ask you to provide certain information.

The granting of permits goes through a similar process to the neighboring offshore jurisdictions of Bermuda and The Cayman Islands. A work permit will be granted if there is no local worker interested in, or qualified for, the position.

Work permits are re-issued annually, but the 2001 Labour Code Law set out that no expat will be granted work permits beyond a five year stay.

Currency & Banking

As a small island chain, The British Virgin Islands does not have it's own currency, instead the country uses the US$ for all transactions on the islands.

BVI Tax

The BVI reflects the situation in most offshore jurisdictions when it comes to individual taxes for accountants. The government levies a payroll tax of just 8% on BVI's resident workers as well as an additional 4% in social security contributions. Taxes may not be as low as some OFCs but they compare favorably to high-tax onshore countries such as the United States and the UK.

There are minimal annual property taxes and stamp duty on property purchases has a top rate of 12%.

BVI Healthcare

Healthcare in the British Virgin Islands is generally pretty good. Obviously it does not have the facilities of major cities such as Miami, but local hospitals and doctors can deal with most conditions which arise. The island offers both government and private clinics, including the government's Peebles Hospital in Road Town, Tortola. They have an efficient accident and emergency centre with well-trained staff and ambulance service, as well as an intensive care unit, laboratory facilities, and radiological services including a state-of-the-art CT scan.

One private clinic is the Bougainvillea Clinic, a registered surgical facility, which provides general and orthopedic care, and plastic and reconstructive surgery.

Before You Leave Home

Once you have accepted your new accounting job in the BVI it's time to pack your bags and book your flight. But first you should contact your local tax office to inform them of your move.

Now you should be ready to go, and set to enjoy a life-changing BVI experience.

Search for BVI Jobs.