BVI Established Task Force to Examine Brexit Implications

BVI Premier Dr D Orlando Smith is planning to establish a task-force to examine the implications of Brexit on the BVI territory. The new task force, headed by Premier Smith, will include other government ministers and technocrats.

The White Paper on the implications for BVI of Britain leaving the European Union is expected to be ready before representatives of the jurisdiction again meet with members of the British government in June and in November 2017. The British government is expected to present the concerns of the BVI and other British Overseas Territories during negotiations regarding Brexit. 

Premier Smith noted that, during the meeting recently held with members of the British government, he highlighted some of the Brexit challenges and opportunities that may arise for the British Virgin Islands. The BVI priorities set by the Premier included freedom of movement, international trade and EU funding.

BVI Premier Visited London to Discuss Brexit Impact on OTs

BVI Premier and Minister of Finance Dr Orlando Smith, has completed high level meetings in the United Kingdom. The premier along with other Overseas Territory leaders discussed the impact of Brexit on the territories, during the UK-OT Joint Ministerial Council on European Negotiations, and made a courtesy call on UK Prime Minister.

Also, he attended a number of other meetings including a meeting for OT leaders on beneficial ownership hosted by Home Office Minister of State for Security and Member of Parliament, Ben Wallace. During the meeting, the BVI implementation of beneficial ownership agreements was recognized as the most advanced. 

The BVI premier held meeting with vice chairman of the Conservative Party and Member of Parliament Mark Field, to demonstrate BVI's new system for exchanging beneficial ownership and discuss the priorities of the jurisdiction for Brexit negotiations.