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Offshore companies are often established to take advantages in the international trade, taking into account that the flow of money in or out of most countries is still restricted or somehow regulated, and of course liable to taxes. The British Virgin Islands are politically stable offshore jurisdiction with excellent commercial and professional infrastructure and developed communication facilities. Now the BVI is the most popular jurisdiction for incorporations, with over 300,000 business companies registered and used for all kinds of international business activities. One of the disadvantages of setting up an offshore company is that generally they can not carry on any business or have an office with staff employed within the jurisdiction of incorporation. There are certain restrictions on the types of business, mostly in the banking and insurance industries, that have the right to operate as an offshore company. British Virgin Islands Business Companies are usually incorporated using the English language. Provision exists for a translation of the name to be included in the Memorandum and Articles of Association.
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