What is a BVI company? BVI is a British territory. In 1984, the International Business Company Law was passed to start the business of international business companies. According to the provisions of the law, the established company (overseas company) does not need to submit tax statements to the local government. After the overseas company is established, , there is no need to set up an account, just pay a fixed government fee every year. The British Virgin Islands has always been the most popular location for offshore company establishment among all offshore jurisdictions in the world, with arguably the largest number of company registrations.