The Virgin Islands is aiming to expand and deepen its relationships with more countries in mainland and Latin America. Photo: Facebook

Minister responsible for Financial Services, Honourable Lorna G. Smith OBE (AL), during a new program called "Outlook" on Sunday, February 15, 2026 emphasized that the government collaborates with these counterparts to enhance trade relations, allowing the private sector to establish commercial connections in those regions. Photo: Facebook

"We have been very strong in Hong Kong and mainland China, and we want to deepen that relationship in that part of the world. We are looking at other areas in Asia. We expect to travel to India later on in the year; of course, we are also strong in parts of Latin America. Last year, we visited Brazil, we visited Uruguay, and we also visited Argentina. We will continue to strengthen and deepen the relationship with those countries."

Honourable Smith emphasised that the government collaborates with these counterparts to enhance trade relations, allowing the private sector to establish commercial connections in those regions. 

The Virgin Islands serve as a major international financial hub, facilitating approximately $1.4–$1.5 trillion in global cross-border trade, investment, and asset holding. With over 360,000 active companies, the VI acts as a "super-connector" for Asia and Latin America, providing tax-neutral, flexible vehicles for investment holding, wealth planning, and corporate structuring, while holding significant portions of global portfolio investment.

'Our reputation is critical' 

The minister noted, "Our clients rely on a country that offers stability, a country that offers a strong regulatory framework, in terms of the laws that we have on our books, and a country where there are reduced risks; since managing our reputation is critical."

Honourable Smith added that the government is committed to further strengthening the Virgin Islands' roadmap in financial services this year. "We hope to engage, by the end of next month, a consulting firm to support us for this, and we hope, by the third quarter of this year, to have that framework completed so that we continue to expand and to develop the financial services offerings of this jurisdiction."