Thursday, October 15, 2015

British Overseas Territories are Offered to Have Representation in UK Parliament

The UK Parliament MP from Conservatives, chairing the Parliamentary British Overseas Territories Committee, has said that the overseas territories should be represented in the UK Parliament, based on the fact that some UK territories including Scotland have less autonomy but have their representation in Westminster. He also stated that the French, Dutch, and Danish overseas territories had elected representation in the national parliaments. He said that it is worth to consider allowing British Overseas Territories and crown dependency members in the House of Lords.

British MP was speaking on the fringe meeting that was hosted by the Friends of the British Overseas Territories, meant to bring together all the 16 of them. Overseas territories have mixed opinions about full Westminster representation, but, by his words, at last the discussion was initiated on the issue.

Regarding the future referendum on the EU membership, he said that it will definitely have an impact on the UK territories, as many of them have their business in the European Union.

Friday, October 02, 2015

Annual BVI Asia 2015 Business Conference Held Backed by BVI House Asia

The Business BVI ASIA 2015 annual regional conference which took place on September 23 attracted more than 100 offshore industry experts and leaders from the most progressive businesses in Asia and British Virgin Islands. The conference named "Pivoting to Asia - A View Beyond the Horizon" was sponsored by BVI House Asia already for the second year.

The conference presentations included "China's One Belt One Road Regional Development Strategy: Long Term Opportunities for the Offshore Sector," made by Dr Qian Liu, director of Economics Unit, The Economist Group, Beijing; "Future Disruption in the Offshore Space: Where will the next 'Uber' come from?"; and "Emerging Wealth in China: Millionaire Households and Ultra High-Net Worth Households."

It was stated by Dr.Qian Liu that, with outbound direct investment from China having increased 35% since 2005, "Chinese companies investing in international markets want the certainty that BVI structures, backed by BVI courts and English common law, provide, rather than relying on the courts of countries in emerging markets. Second, China's fast-rising middle class will want trust funds, private wealth management and other services that the BVI can arrange. Finally, the Chinese middle class wants to spend more on tourism, a trend that began in Southeast Asia and continues in Hawaii, Tahiti and the Caribbean. As a tourist destination, the BVI sits on the rising demand for tourism."