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News

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.

February 19th, 2018
11,700 firms in VI own UK properties- BBC analysis

ROAD TOWN, Tortola, VI - As the European countries especially seek to discredit the legitimate financial services industry of the Virgin Islands, often labelling it a 'tax haven', BBC News recently published that it found a quarter of properties in England and Wales are owned by firms registered in the VI.

February 1st, 2018
Global Financial Secrecy Index lists VI at # 16

ROAD TOWN, Tortola, VI - On the heels of the United Kingdom (UK) upper chambers, the House of Lords, voting 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, the VI has found itself ranked number 16 on the 2018 Financial Secrecy Index (FSI) by the Tax Justice Network (TJN).

December 28th, 2017
Do not mistake privacy for secrecy - Lorna G. Smith OBE

ROAD TOWN, Tortola, VI- The Interim Executive Director of BVI Finance Mrs Lorna G. Smith OBE has come to the defense of the territory being labelled a tax haven, penning an article in Scottish newspaper The Sunday Herald of December 26, 2017, in which she admonished that persons not mistake privacy for secrecy.

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.'

June 29th, 2017
‘Disingenuous!’- VI Ambassador to UK/EU slams negative press on Fin Sector

LONDON, United Kingdom- The fallout on a report done for the Virgin Islands (VI), which speaks positively of the British Overseas Territory, continues to gain international headlines.

June 25th, 2017
VI under fire from international media over no ‘Tax Haven’ label

ROAD TOWN, Tortola, VI- It was on June 21, 2017 in front of the local press that the Government of the Virgin Islands (VI) though its statutory body, BVI Finance, the body which is a joint public-private partnership to promote the VI's offshore financial sector and structures, released a glowing report about the British Overseas Territory’s role in the global economy.

November 18th, 2016
Judge all financial centres on the same criteria- E. Benito Wheatley

ROAD TOWN, Tortola, VI- With the Virgin Islands (VI) many times unfairly labelled as a “tax haven” and demonised by the international media and certain developed countries that are also financial services jurisdictions, BVI London Office Director and United Kingdom/European Union Representative Mr E. Benito Wheatley has called for a level playing field among offshore and onshore international finance centres.

November 30th, 2015
Report describes VI's company incorporation as 'flexible, lax, & see-no-evil'

ROAD TOWN, Tortola, VI – The Financial Secrecy Index 2015 published by the Tax Justice Network has given the Virgin Islands low marks for its financial secrecy which it said allows for the hiding and facilitating of all kinds of crime and abuses worldwide.

October 10th, 2015
‘I don’t support notion that VI is a notorious tax haven’ – Premier Smith

ROAD TOWN, Tortola, VI – Premier Dr The Honourable D. Orlando Smith has slapped down latest suggestions that the Virgin Islands shares a place along with Bermuda and the Cayman islands as the top three ‘notorious’ tax havens in the world.



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