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Glite Dictionary
🏝️ Caribbean islands 💼 Offshore finance
British Virgin Islands

British Virgin Islands

4.6
A place where people register companies and trusts for tax and financial services
  • proper noun
  • Specialized
translation icon : Islas Vírgenes Británicas
  • British Virgin Islands

Examples

  • Many multinational firms register their holding companies in the British Virgin Islands to reduce tax liabilities.

  • The lawyer advised setting up a trust in the British Virgin Islands to protect family assets overseas.

  • Journalists reported that the leaked records revealed thousands of shell companies registered in the British Virgin Islands.

  • Many companies choose to incorporate in the British Virgin Islands for tax benefits.

  • The British Virgin Islands are known for their favorable business regulations.

  • The British Virgin Islands are known for their favorable offshore financial regulations.

  • Many companies choose to register in the British Virgin Islands due to its tax benefits.

  • Investing in the British Virgin Islands offers various financial services that attract global entrepreneurs.

Surface Forms

British Virgin Islands main

Morphology

British + Virgin + island

The phrase is compositionally transparent as a place name: a B1 learner who knows 'British' and 'islands' can infer it refers to an island group associated with Britain. However, the specialized sense in the given definition — referring to its legal/regulatory jurisdiction and role as an offshore financial centre — requires specific world knowledge and is not predictable from the constituents alone.

Etymology

British Virgin Islands as a financial name comes from many companies being legally registered there for tax and business reasons. So, when people mention the British Virgin Islands in business, they often mean the islands' 'offshore' company and financial rules rather than just the land itself.