British Virgin Islands Offshore Company is usually established under the International Business Companies Act 1984. International business companies in the British Virgin Islands are subject to statutory restrictions and declarations by the British Virgin Islands. The British Virgin Islands offshore companies are prohibited to engage in the following business:

• engaged in business in the British Virgin Islands;
• owned property in the British Virgin Islands;
• engaged in banking or trust business;
• engaged in insurance or reinsurance business;
• engaged in business for the provision of company registration.