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The official currency of the British Virgin Islands has been the United States dollar (US$) since 1959, the currency also used by the United States Virgin Islands. [3] The British Virgin Islands enjoys one of the more prosperous economies of the Caribbean region, with a per capita average income of around $47,000 (2022 est.) [47]
The British Virgin Islands is a common law jurisdiction, although British Virgin Islands law and procedure differs to a great degree from English law because of local statutes, orders and civil procedure rules. However, in certain instances British Virgin Islands law provides that in default of any local provision, English law or procedure ...
The first relates to the controversial Computer Misuse and Cybercrimes Act, 2014, which was criticised both within the British Virgin Islands [38] and aboard [39] as an attack on press freedom. Amendments to the legislation to permit "public interest" publication of information somewhat mollified those criticisms.
The BVI Financial Services Commission is an autonomous regulatory authority responsible for the regulation, supervision and inspection of all the British Virgin Islands financial services including insurance, banking, trustee business, company management, mutual funds business, the registration of companies, limited partnerships and intellectual property.
Terrance B. Lettsome International Airport (IATA: EIS, ICAO: TUPJ), previously known as Beef Island Airport, is the main airport serving the British Virgin Islands, a British overseas territory in the Caribbean. The airport serves as the gateway to just about all of the islands within the BVI.
The Cabinet of the British Virgin Islands (formerly referred to as the Executive Council, or sometimes ExCo) is the collective decision-making body of the British Virgin Islands government. It is composed of the Premier , four other Ministers of Government, and the Attorney General as an ex officio , non-voting, member. [ 1 ]
Politics of the British Virgin Islands takes place in a framework of a parliamentary representative democratic dependency, whereby the Premier is the head of government, and of a multi-party system. The British Virgin Islands (officially the "Virgin Islands") are an internally self-governing overseas territory of the United Kingdom .
The economy of the British Virgin Islands is one of the most prosperous in the Caribbean. Although tiny in absolute terms, because of the very small population of the British Virgin Islands , in 2010 the Territory had the 19th highest GDP per capita in the world according to the CIA World factbook . [ 4 ]