Offshore companies are still popular among the Russian entrepreneurs. BVI remains the most popular jurisdiction to incorporate an offshore company. The reasons are as following:
- BVI is a territory of Great Britain, so its legal system is based on common law of Great Britain. It is a stable system with developed corporate legislation.
- BVI implemented the requirements of FAFT concerning anti-money laundering and preventing of terrorist financing, so this territory is not on the black list.
- It has developed trust legislation.