“British Overseas Territories” is the politically-correct name for the old British Colonies (or Empire). Each colony was allocated a single registration series -xAA to xZZ with a prefix of VP-, VQ- or VR-.
Bermuda was originally VR-BAA to VR-BZZ but this was changed when VR-B was given to China for use in Hong Kong after 1997. In the event the Chinese have yet to use it.
Bermuda became VP-BAA to VP-BZZ (which was originally for Bahamas who had changed to C6- after independence).
Clear ?
Bottom line: VP-B is Bermuda which is one of the few remaining British Overseas Territories.
(Edit: for a complete history, settle into a comfy chair and read this: daveg4otu.tripod.com/pref.html . Bet you’re sorry you asked now )
Hooray for British Overseas Territories! We can mess up our country, run to Britain afterward… then have drinks at all the bars throughout Europe… then go back when the country is fixed!