Caribbean Realty Limited


THE BRITISH VIRGIN ISLANDS TODAY
Status: British Overseas Territory
Area: 153 sq km (59 sq miles)
Population: 27,000 (estimate for 2005)
Capital: Road Town, Tortola
Languages: English
Religion: Christian
Currency: US Dollar
Major political parties: National Democratic Party (NDP), Virgin Islands Party (VIP).
Governor: His Excellency David Pearey
Premier: The Honourable Ralph Telford O’Neal OBE

ECONOMY
GDP per capita: $41,700 (2006 estimate)
Annual Growth: 7.2% (2006 estimate)
Inflation: 1.9% (2005)
Major Industries: tourism, international financial services
Major trading partners: US Virgin Islands, and the USA
Exchange rate: UKŁ1 = US$2.01 (August 2007)

HISTORY
Discovered by Columbus in 1493, the islands came into British possession in 1666 when planters took control from the original Dutch settlers. The islands were annexed by the British in 1672. In 1872 they were incorporated into the British colony of the Leeward Islands. These islands were administered under a federal system until 1956 when the Federation was dissolved. The Governor of the Leeward Islands continued to run BVI until 1960 when an appointed Administrator (later a Governor) assumed direct responsibility.

INTERNATIONAL RELATIONS
The British Virgin Islands enjoy a close relationship with the other Caribbean Overseas Territories. Whilst the influence of neighbouring USVI is strong (US education and satellite TV), the BVI continues to value its association with the UK, which is regarded as an important aspect of the country's personality, making it distinct from the USVI. The Caribbean is a very interesting market in an increasingly global property market.

The BRITISH VIRGIN ISLANDS law system is a combination of common law and statute, and is based heavily upon English law.

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