British Virgin Islands

The money laundry for the Russians and Chinese

Time to clean up the British Virgin Islands - another corrupt den of iniquity. Home to a growing number of corrupt shadow companies that fuel corrupt dictatorships the world over.

The thread is 8 pages long - why not consider listening to the audio narration?

The link is found in the first reply to the last tweet in the thread. I provide audio versions for my visually impaired followers, they are also useful for busy folk and great commute podcasts.

British Virgin Islands (BVI) - Geographical and political context:

The British Virgin Islands (BVI), officially the Virgin Islands, are a British Overseas Territory in the Caribbean, to the east of Puerto Rico and the US Virgin Islands and north-west of Anguilla. The islands are geographically part of the Virgin Islands archipelago and are located in the Leeward Islands of the Lesser Antilles and part of the West Indies.

In 1968 the British Government issued a memorandum requiring that the postage stamps in the territory should say "British Virgin Islands" (whereas previously they had simply stated "Virgin Islands"), a practice which is still followed today. The islands gained separate colony status in 1960 and became autonomous in 1967 under the new post of Chief Minister.

The territory operates as a parliamentary democracy. Overseas Territory of the UK with limited self-government; parliamentary democracy. Ultimate executive authority in the British Virgin Islands is vested in the King, and is exercised on his behalf by the Governor of the British Virgin Islands.

The governor is appointed by the King on the advice of the British Government. Defence and most foreign affairs remain the responsibility of the United Kingdom.

The twin pillars of the economy are financial services (60%) and tourism (roughly 40-45% of GDP). Economically however, financial services associated with the territory's status as an offshore financial centre are by far the more important. 51.8% of the Government's revenue comes directly from licence fees for offshore companies, and considerable further sums are raised directly or indirectly from payroll taxes relating to salaries paid within the trust industry sector (which tend to be higher on average than those paid in the tourism sector).