BVI Business Companies Act

That statute is often mistakenly referred to as simply the "Business Companies Act" due to a common misinterpretation that the "BVI" is a description of the jurisdiction of enactment rather than actually part of the name.

The letters BVI were deliberately inserted as part of the branding exercise, and it was hoped that companies formed under the new legislations would be referred to as "BVIBCs".

Ultimately the phrase "BVIBCs" proved to be too much of a mouthful, and in the offshore financial industry, it is more usual to refer to entities formed under the Act as "BCs", or simply "BVI companies".

[3] The Act contains a number of specific features which are designed to make the British Virgin Islands more attractive as an offshore financial centre.

These include: The intention of the legislation was to eventually consolidate all British Virgin Islands company law into a single statute.