The Different Stipulations Of British Virgin Islands Law
by Nancy Patterson
The British Virgin Islands (BVI) has a written constitution. Some countries on earth have an oral constitution. The most prosperous countries on earth have constitutions. On the other hand, failed states do not have a constitution. Therefore, chaos is usually the case. The BVI constitution stipulates <a href="https://www.grantlawbvi.com/about-us">British Virgin Islands law</a>. In this part of the world, there is the rule of the law. Thus, every resident has freedoms, rights, and responsibilities. Everyone is free to move from one area to another. There is also the freedom of religion. Thus, no one is forced to believe in a certain way.
There is the citizenship stipulation. This deals with the various ways of becoming a citizen in British Virgin Islands. Every country should especially have citizenship laws. There should be a clause that defines who a citizen is. It is important to note that residency and citizenship have different meanings. A person can be a resident while he is not a citizen of BVI.
A resident is a person residing in a country whether or not he is a citizen. Therefore, an individual can be a resident of one country and a citizen of another country. Citizenship can be acquired through the process of birth. Being born on BVI soil qualifies an individual as a BVI citizen. There is also citizenship by marriage.
There are a number of taxation laws. Any jurisdiction or country on earth can only survive if the residents are levied with taxation. As a matter of fact, taxation is not a bad thing as many people assume. It makes it possible to provide much needed social services. Civil servants and the armed forces will also be paid using taxation revenue.
Failure to pay taxes is a crime that can land one in jail. Alternatively, an individual can be required to pay a hefty fine. Taxation evasion should not be the case. However, taxation avoidance is allowed in BVI as well as in other parts of the world. A business can claim deductions while an employed person can claim a number of reliefs.
There are business incorporation laws in British Virgin Islands. The law has to be followed to the letter when it comes to incorporating a company. Failure to do that will make the registrar of companies in BVI to turn down an application. Before anything is done, there is the need to choose the desired type of business formation.
Incorporation in BVI is an easy and convenient affair that can be done from the comfort of home or office. A person can handle the whole affair without professional assistance. Alternatively, he can hire a professional to deal with the whole affair. BVI is the most business friendly jurisdiction on earth. That is because BVI has zero corporate tax.
Laws have existed since antiquity. They will continue existing for millennia. The first constitution on earth was the British constitution. At first, it was an oral constitution. However, it was later put down on paper. The written constitution is the best type of constitution. As a matter of fact, the constitution is always subject to change. It can be amended at any time.
Get an overview of important factors to keep in mind when choosing a <a href="http://www.grantlawbvi.com/about-us">British Virgin Islands law</a> practitioner and more information about an experienced attorney at http://www.grantlawbvi.com/about-us now.
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