No corporate tax on BVI company profits.

Pay no taxes on the profits of a BVI company. This is one of the benefits of a BVI incorporation. There are also other countries that offer a zero tax rate on companies registered in their jurisdiction. You have to figure out which jurisdiction is better for you. The kinds of businesses that use an offshore company to lower their effective tax rate are varied. There is no specific industry that offshore company use is tied to.

Instead of collecting taxes on company profits, there is an annual government renewal fee. This fee is fixed and is known to you in advance. The BVI government does not increase or lower this fee frequently. The down side of this is that if you have a BVI company and it made a loss one year instead of a profit, you would still have to pay the annual renewal fee. Therefore, that payment would just increase your business losses for that year.

We would not expect anyone to continue to pay the BVI company annual renewal fees, if they were experiencing losses year after year.