Introduction to the BVI
Mention the words “British Virgin Islands” and an array of stereotypical images are conjured up: turquoise sea, pure white sand, lush vegetation and an idyllic lifestyle. But as a constantly growing offshore jurisdiction, the BVI has so much more to offer lawyers in terms of both career and lifestyle.
The Legal Market
With a small core of high quality local and international firms specialising in all aspects of offshore work as well as thousands of registered incorporated companies established in the islands, the BVI continues to grow and attract business.
Offshore mutual funds have really taken off in the BVI over the last few years and consequently the fund industry is buoyant. As a result there is a continuing demand for quality funds lawyers in the BVI. Lawyers specialising in general finance, corporate/M&A, trusts, litigation and insolvency will also find their skills in demand. Quality of work is guaranteed to be high and the prospect of this, along with the lifestyle benefits, is successful in attracting top lawyer talent to the islands.
Lawyers looking to relocate and work in the BVI must be qualified in the UK to obtain a work permit. Lawyers generally need 2 years pqe to work in the BVI.
Money Matters
Salary packages are competitive though tend to be slightly less than the Cayman Islands. There is no income tax, although employees pay a small payroll tax.
The local currency is US Dollars, and the cost of living is slightly less than the Caymans.
Travel Details
There are no direct flights from the UK to the BVI. You can fly to Antigua and then connect onto a local Caribbean airline to fly you to Beef Island Airport on Tortola. You can also fly to the East Coast of the US, fly to San Juan Airport in Puerto Rico and then take a 35 minute journey on a small “island hop” plane over to the BVI.
Red Tape
Lawyers looking to relocate and work in the BVI must be qualified in the UK to obtain a work permit. The firm you are moving to will organise the work permit on your behalf.
You are automatically entitled to qualify in the BVI as soon as you qualify in the UK.
After Work
The fact that commuting to work is minimal and hours are often shorter than those in London mean that a fantastic work/life balance can be enjoyed. With amazing beaches, clear blue waters, year-round fabulous weather and some of the best diving in the world, the lifestyle is one certainly to be enjoyed.
For more information please contact your advising consultant at Garfield Robbins International on +44 (0)7912 392 835 or email us at info@garfieldrobbins.com
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