Registratering in a British Overseas Territory?

Trump’s aircraft, as well as many others, are registered in the British Virgin Islands (British Overseas Territory), what is the reason for this? I assume its tax related but can anyone expand on that and add details? Does it also have to do with liability and asset protection? Thanks!

Yes, to answer your question.
VP-B, VP-C, P4 and others are all offshore havens for aircraft registartion. Thats Bermuda, Cayman Islands and Aruba. Yachts also use the Channel Islands and Gibraltar, especially if the owners are citizens of high tax countries.
Lots of reasons, secrecy and taxes being the main ones. Liability probaby is not much of a reason though, if you hit somebody you are still liable regardless of where you are registered.