The UAE is by far the better retail setup.
VP BANK (BVI) is the only from the BVI Banks that opens you an account nowadays without being resident in the BVI. However VP Bank (BVI) is focusing on
wealth management only and you can't utilise them to faciliate day to day transactions - also the min balance is 100.000 USD.
"We are primarily focused on financing,
investment management, custodial and securities trading accounts for our clients. Please note that we are not able to facilitate high levels of payment transactions/pass through accounts, and do not offer
credit card services at this time. "
So it depends on what you are looking for an what do you want - for investment / passive holding companies give it a try but FORGET the BVI in 2021 if you want to have decent reliable retail banking with 0 Balance Requirements and day to day transactions. Nothing beats the UAE in terms of straightforward setup and having an active trading business - it's what
Hong Kong was 5 years ago. Not to mention the difficults in transacting around with a BVI
bank account.
PS: there is Bank of Asia (BVI) they are running on an
EMI as well as all the Dominican
Crypto friendly banks that actually popping out like mushrooms
so if youare fine with banking on an
EMI - you can get something done with a
BVI company as active trading company but the fees are most of the times % and you can easily setup something in Dubai after you use such an EMI for 1 year.