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Today, the territories often referred to as British Overseas Territories include 14 areas such as Bermuda, Gibraltar, the Falkland Islands, the British Virgin Islands, and the Cayman Islands. These territories are self-governing to varying degrees but remain under British sovereignty. They have their own local governments and legal systems, although the UK is responsible for their defense and international relations. Unlike former colonies, these territories maintain a distinct status within the framework of British governance.

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