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News

May 1st, 2018
UK Parliament agrees to Public Register for OTS

LONDON, United Kingdom- In what has been termed by some as “kicking a man while he is down”, the House of Commons has made a potentially lethal blow to the Financial Services Industry of the Overseas Territories (OTs), including the hurricane ravaged Virgin Islands, by siding with a bill brought by the United Kingdom (UK) backbench to force overseas territories to put in place public registers of beneficial ownership.

April 27th, 2018
They are back! UK’s House of Commons to vote on Public Register for OTs

LONDON, United Kingdom- When the United Kingdom (UK) Upper Chamber, House of Lords, voted down the proposal for Overseas Territories (OTs) to make public registers revealing the names of beneficial owners of financial offshore companies on January 24, 2018, it was known that the next step would be to take the proposal to the House of Commons.

March 26th, 2018
Elise Donovan of BVI House Asia visits Shenzhen Foreign Affairs Office

SHENZHEN, China- Ms Elise Donovan, Director of BVI House Asia, has met with the new Director General of Shenzhen Foreign Affairs Office, Ms Cai Ying; Deputy Director General, Mr Yao Weizhi; and Director of Protocol Division, Ms Claire Xie today, March 26, 2018 in Civic Center, Shenzhen.

March 12th, 2018
EU set to add USVI to tax haven blacklist; VI on grey list!

ROAD TOWN, Tortola, VI- The European Union (EU) is at it again, trying to damage the reputation of legitimate financial services industries of certain small countries, while failing to screen its own EU jurisdictions.

January 29th, 2018
UK Lords voted against public register; Small victory for VI’s offshore sector

PARLIAMENT SQUARE, London, UK- The United Kingdom (UK) upper chambers, the House of Lords, voted down a proposal on January 24, 2018 for the Virgin Islands (VI) and other Overseas Territories (OTs) to implement a public register that would reveal the names of beneficial owners of financial offshore companies registered in the Territory.

November 20th, 2017
A year after the Panama Papers leak comes the Paradise Papers!

ROAD TOWN, Tortola, VI- Little more than a year after the 'Panama Papers' leak sent ripples in the offshore financial sector and placed the Virgin Islands industry under renewed scrutiny, now comes the 'Paradise Papers.'

November 15th, 2017
New UK Police & Crime Bill could affect VI Offshore Financial Sector

ROAD TOWN, Tortola, VI- While the Virgin Islands might be preoccupied with the rebuilding efforts after two powerful Category 5 hurricanes, Irma and Maria, destroyed the Territory, a new Bill seems to have slipped the eye of local government.

October 31st, 2017
Lorna G. Smith’s Financial Services industry layoff proposal raises eyebrows

ROAD TOWN, Tortola, VI- Within the last twenty four hours many in the Financial Services Industry have forwarded to our newsroom an Email, dated October 30, 2017 from Mrs Lorna G. Smith OBE, the interim Executive Director of BVI Finance.

September 28th, 2017
VI Reps meet UK private sector group as territory restores critical services

ROAD TOWN, Tortola, VI- Representatives of the Government of the [British] Virgin Islands, BVI Financial Services Commission and BVI Finance met with a group of senior financial and professional services practitioners in London to update on the VI’s progress towards resuming normal service.

August 28th, 2017
2 Prime Ministers ousted over offshore accounts in BVI

ROAD TOWN, Tortola, BVI- The British Virgin Islands (BVI), through the BVI Finance Centre, released a report earlier this year which claimed that the BVI supports some 2 million jobs globally through its legitimate offshore regime.

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