Tortola
Tortola hosts 600,000 offshore companies generating 60% of BVI GDP: license fees alone provide 51.8% of government revenue in this financial services hub.
Tortola demonstrates how offshore finance can dominate a small island economy more completely than tourism. This largest of the British Virgin Islands hosts the capital Road Town and serves as the commercial center for a jurisdiction that has registered approximately 600,000 offshore companies, making BVI a global leader in corporate domiciles. Financial services contribute roughly 60% of GDP, with 51.8% of government revenue coming directly from offshore company license fees.
The twin pillars of BVI's economy are financial services and tourism, with the latter contributing approximately 40-45% of GDP. However, financial services generate the revenue that supports government operations while tourism primarily generates private-sector employment. BVI companies appear frequently in international joint ventures and holding structures, with 2017 estimates valuing assets held in BVI offshore companies at $1.5 trillion, two-fifths owned by Hong Kong and China-based entities.
Regulatory pressure has increased following global transparency initiatives. The 2018 Economic Substance Act requires annual declarations from BVI entities, addressing FATF and OECD concerns about tax evasion and money laundering. Tortola functions as the administrative hub managing this regulatory compliance while hosting the legal and accounting firms that service the offshore industry.