The details and when the privilege will take effect, however, will be announced after negotiations with the BVI government, the MOFA said in a press statement.
The statement noted that the visa-waiver program will follow the one adopted by the British government in March 2009.
The BVI is the sixth British overseas territory — after Bermuda, Gibraltar, Turks and Caicos, St Helena, and Falkland Islands — to establish such an agreement with Taiwan, it said.
The visa-free entry scheme should boost bilateral ties, increase cultural exchanges and encourage tourism, it added.
Although the BVI consists of a small population of 25,000, its tourism and financial service industries have made it one of the most thriving economic areas in the Caribbean, according to the MOFA.