The British Virgin Islands (BVI) is a group of islands located in the Caribbean Sea. The BVI is a British Dependent Territory which became self-governing in 1967 and is a member of the British Commonwealth. Good banks facilities, political and economic stability make B.V.I. an ideal offshore financial center, Since introducing its International Business Company (IBC) legislation in 1984, the BVI offshore financial services sector has developed, and is now the world's most popular offshore center with nearly 1,000,000 companies incorporated.