Many people dream of making their holiday destination their everyday life. In fact, many people have done just that. According to UN data, 1.3 million people who were born in the UK were living in EU countries in 2019, with Spain hosting the largest number of ex-pats at 302,000.

However, while Europe’s holiday resorts have long been a major draw for those seeking to settle in warmer climes, there are those who long to set up somewhere further-flung. One destination that makes for a stunning place to settle down is the British Virgin Islands (BVI).

If you’ve ever visited, you’ll already know that this is a truly spectacular place. It was the destination that Sir Richard Branson fell for in the late 1970s and is a paradise that offers a wealth of opportunities for those who long to live overseas. Here’s a look at who lives here and the main benefits of making the move to these islands.

1. Location, Location

Dazzling white sands and coral reefs make the BVI a magical place for anyone who visits here – and it’s easy to see why people stay. Ideally located in the eastern Caribbean and just 60 miles from Puerto Rico, this is an idyllic location that comprises over 50 islands. Of these, around 16 of the islands are inhabited, with the main four islands of Tortola, Virgin Gorda, Anegada, and Jost Van Dyke being the centre for travellers, both for business and leisure.

The capital – Road Town – is on Tortola, which is the largest island. This is where many ex-pats opt to settle, especially if they arrive here for work.

2. Job opportunities

While the islands are captivating to anyone who visits, they are also a hub for British investors who want to take up job opportunities here. BVI is well-known as an offshore financial services centre. This is a relatively new offshore jurisdiction, and there is a vibrant entrepreneurial scene here, along with more traditional professions that do well in the area. Ex-pats often run the banks and insurance companies, most of which are found in Road Town.

Due to the small size of the islands, workers operate in smaller teams, meaning that they get to enjoy a closer working relationship with both colleagues and clients. This makes it an appealing destination for those who want to flex their skills in a different location.

3. Waterside living

Whether you’re debating on moving here for work or you long to retire here, you can indulge in downtime in the Caribbean waters. The temperature allows you to enjoy sea swimming throughout the year, so you can try different water sports or simply enjoy the annual BVI Spring Regatta.

4. Low tax

Anyone who lives on the British Virgin Islands pays no tax on income. This is balanced out by stamp duty on property, which is at 12%, however this is an appealing setup for those seeking low-tax living.

5. Easy move

It’s relatively easy to move to the BVI. British citizens can move here, but they need to request ling-term permission to stay. This applies even with a British passport. For immediate residency, those eligible tend to have significant business ties in the British Virgin Islands or they are direct investors with a net worth of at least $100 million.

Should you be employed in a senior management position in a company that has a strong business presence in the BVI, or if you have independent wealth, you’ll also qualify for residency. To make sure you know if you’re eligible on these terms or if you have to follow a different route to get permanent residency, speak to an expert immigration lawyer who can oversee your expatriation.

Why move here?

From those who have a strong skillset in finance to those who long to retire somewhere special, there are plenty of people who settle in the BVI. Living and working here is a totally different experience to that of the UK, making it a magnet for those who long for an adventure.