Relocating to a new job in The British Virgin Islands...
Every year thousands of expats decide to up sticks and relocate to the beautiful western Atlantic island of Bermuda. A sub-tropical climate, favourable tax regime and a great work/life balance make the island a desirable destination.
The BVI's Terrence B. Lettsome Airport (EIS) does not support any direct flights from the USA, Canada, Europe or South America, instead you will need to connect through one of the neighboring Caribbean islands such as Antigua, St Maarten, Puerto Rico or St Thomas (USVI).
Many travelers who come in through St Thomas connect to the daily passenger ferry service between the BVI and the U.S. Virgin Islands. These are provided by Speedy’s, Smith’s Ferry, and Native Son.
If you are moving to the BVI you are likely to require 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
- O’Neal & 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
Like all Caribbean islands, the cost of living can be high. Almost all goods need to be imported which keeps prices high. Prices are significantly higher than the US and noticeably higher than the UK.
The granting of work permits it carried out in a similar way 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 reissued annually, but the 2001 Labour Code Law set out that no expat will be granted work permits beyond a five year stay.
The BVI does not have it's own currency, instead the country uses the US$ for all transactions on the islands.The government levies a payroll tax of just 8% on BVI's workers as well as an additional 4% in social security contributions. There are minimal annual property taxes and stamp duty on property purchases has a top rate of 12%.
The BVI offers good healthcare provisions, with both government and private clinics available.
The government's Peebles Hospital in Road Town, Tortola has an efficient accident and emergency centre with well-trained staff and ambulance service. It has 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.
You should contact your tax office to inform them that you will be becoming a resident in The BVI (and thus liable for BVI taxes) and arrange for your mail to be redirected.Once you’ve ticked all the boxes and are ready to go, get ready to kick back and enjoy BVI living!!
