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November 22nd, 2022
European court rules against EU on Public Registers of Beneficial Ownership

LUXEMBOURG CITY, Luxembourg- In a strong affirmation of the position taken by the [British] Virgin Islands and other British Overseas Territories over many years, the European Union Court of Justice today, November 22, 2022, struck down the European Union (EU) mandate for public registers of beneficial ownership of all companies.

December 20th, 2021
HoA meets with Legislation related to Beneficial Ownership in Committee stage

ROAD TOWN, Tortola, VI – The 13th Sitting of the 3rd Session of the 4th House of Assembly of the Virgin Islands (VI) is scheduled to meet this morning, December 20, 2021, as members opt for a virtual sitting.

February 23rd, 2020
VI can already identify beneficial owners of companies- Elise Donovan

BAUGHERS BAY, Tortola, VI – Chief Executive Officer of BVI Finance, Mrs Elise Donovan says due to strict local policies regarding registration of companies, the Territory can already identify beneficial owners of companies registered in the Virgin Islands; however, it has taken the position to implement public registries only until it becomes a global standard.

August 20th, 2019
Caricom planing legal action against European 'Big Boys'- Premier Fahie

ROAD TOWN, Tortola, VI – With the European Union (EU) continuing to set difficult policies on the Virgin Islands (VI) Financial Services sector, Premier and Minister of Finance, Hon Andrew A. Fahie (R1) says these pressures are not just on the VI alone, rather, the entire Caribbean and the Caricom region is looking for ways to fight back.

August 14th, 2018
Re-balancing the VI economy in wake of 'Public Registers Decision'

By E. Benito Wheatley

There are very serious economic and financial implications for the Virgin Islands (VI), as a consequence of the United Kingdom's (UK) decision, to impose public registers of beneficial ownership (public registers) on the Overseas Territories (OTs).

May 7th, 2018
Taking away financial services a ‘human rights’ issue- Premier Smith

ROAD TOWN, Tortola, VI- “Here we are as a Territory, we had one of the most severe natural disasters in a hundred years in the Caribbean and the BVI took the brunt of it. We had three things; flooding, plus Hurricanes Irma and Maria, which, left the Territory devastated. I think it was against human rights provisions to be able to now go and say we are going to take away the other part of your economy.”

April 12th, 2016
Premier Smith yields to UK pressure on Beneficial Ownership Register

ROAD TOWN, Tortola, VI – With the Panama Papers scandal casting a negative light on the Virgin Islands and the UK continuing to put pressure on its overseas dependencies to open up access to Beneficial Ownership Information even while British PM David Cameron faces harsh criticisms and protests against his involvement and benefiting from the offshore industry, Premier and Minister of Finance Dr The Honourable D. Orlando Smith has yielded and signed Exchange Notes on Beneficial Ownership Information.

April 1st, 2015
Offshore companies against creation of 'central registry'

PASEA, Tortola, VI – Acting Permanent Secretary in the Office of the Premier Mr Brodrick Penn said that there are concerns among stakeholders in the financial services sector regarding cost and security implications of establishing a central registry of beneficial ownership information as is being requested by the UK Government.

March 28th, 2015
VI on US 'money laundering' list- Report

ROAD TOWN, Tortola, VI – The Virgin Islands features on the latest United States’ Department of State International Narcotic Control Strategy Report: Vol 2 – ‘Money Laundering and Financial Crimes’, which alleged that there are significant money laundering risks due to the exploitation of the territory’s financial services and lack of mandatory filing of ownership information.

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