The BVI has seen a major surge in offshore company incorporation since the recent G20 “black list” was issues.  Since the jurisdiction was not blacklisted and many know the jurisdiction for its previous track record as well as its fame as one of the first offshore jurisdictions in the modern world.  The BVI has always offered a relatively easy incorporation process as well as the option to have only one director on the company and no need for a secretary.  Many people use BVI Companies in order to establish or open offshore bank accounts.  Most of these accounts are used for such activities as receiving funds from consulting services provided as well as international investments.  The BVI company has always had a reputation as one of the best entities to be used as an international investment tool.  Since the onset of the financial crisis in the US, many US citizens have turned to the BVI company as well as Belize Companies in order to put into place asset protection strategies as well as to establish offshore bank accounts. Currently many offshore services providers have seen a 25% to 50% increase in the number of BVI companies they establish per month and unlike APGI, many have raised their prices in the face of such increase.  Since BVI Companies are simple to form as well as simple to use, there is very little reoccurring fees or payments in order to maintain the company.  The annual franchise fee covers the annual government fee as well as the registered agent and registered office fees and is established by the offshore services provider.  Offshore company incorporation in the BVI has seen an evident resurgence.