Why are the Big 4 accountants all in Panama and the BVI?

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Who is in the British Virgin Islands?

EY

KPMG

PWC

Deloitte

And who is in Panama?

EY

KPMG

PWC

Deloitte

Why, is the fair question to ask?

Panama has a local market that may, just about, justify a presence.

But BVI? It has a population of 28,000 right now, one fifth of that of the Isle of Wight where not a single one of these firms is present.

I think they have some explaining to do given that we know there is nothing of any substance, barring tax avoidance, corproate law abuse and the provision of secrecy going on there.