BVI News

BVI firms own 23,000 properties in UK

Photo depicting sections of Tortola. Photo by Davion Smith/BVI News Journalist

Twenty-three thousand properties in the UK countries of England and Wales are reportedly owned by firms registered in the British Virgin Islands.

According to a BBC analysis published this week, 11,700 of the firms registered in the BVI own those 23,000 properties in the UK.

The BBC reports that no other country owns more properties in England and Wales than the BVI.

BVI’s ownership of properties in England and Wales makes up a quarter of the overall 97,000 properties owned by overseas territories in those two UK countries.

The BBC revealed that the overseas country with the second most properties in England and Wales is Jersey.

Following behind are Guernsey, the Isle of Man, and Hong Kong.

According to the findings, the combined value of the aforementioned properties well exceeds £50 billion.

The report comes amid continued claims from the international community that the BVI is a tax haven. The Government of the Virgin Islands has ardently refuted those claims.

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9 Comments

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  1. Albion says:

    UK property holding is one of the most common uses for BVI companies. What the report does not say is that the UK is introducing public registers of ultimate beneficial ownership of all UK properties. What impact that has on use of offshore structures to hold UK property investments remains to be seen.

  2. Vg resident says:

    So do they claim that Jersey is a tax haven also? Or is just the bvi?

    • Retired says:

      Tax haven? Residents, workers and visitors to the BVI pay more outdated taxes and fees to the government than anywhere else on the planet: departure tax, cruising permit fees, hotel room levies, environmental fee, property tax, vessel import fees, carbon fee(proposed), wharfage, import duties, social security, NHI payments, payroll tax, work permit fees, immigration fees & bonds, legal search & filing fees, lawyer enrollment fees, trade license fees, other license fees(fishing, driving, etc.), foodhandler fees, incorporation fees, various registry fees……..

  3. watcher says:

    There is now 15% stamp duty in the UK on properties held by offshore companies. Expect those BVI owned property numbers to decline over the next few years. And every BVI company that ceases to exist reduces the GDP of the BVI and reduces the governments tax take.

    Still dont worry because Dr Pickering has told us that agriculture will take the place of financial services.

  4. Prophet says:

    Registered in the BVI doesn’t mean owned by BVI. This is common in all countries. But we know that they will spin anything to make us bad guy for using their system. Which is why we have to continue evolving our services, complacency kills

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