British Virgin Islands Business News

The analysis of the latest events in BVI and worldwide, affecting BVI business environment; facts and statistics on BVI International Business Companies involved in global business activities.

Saturday, October 21, 2017

BVI Financial Services Industry Continues Functioning

According to the leaders of the British Virgin Islands financial services industry, there is no loss of confidence in the businesses, despite the severe damages done to the territory by Hurricane Irma. Head of Business Development and Marketing department in BVI Finance, Gary Hales, said: “Generally, people are still comfortable using the BVI. By way of example, there are three potential funds which are still looking at the possibility of using BVI… There is no sense of loss of confidence or business, so the BVI is definitely proving that the financial services industry is robust.”

The director of BVI House Asia in Hong Kong, Elise Donovan, confirmed that the financial services industry there is appreciative of accessibility to services; also, the Cayman Islands where all the large companies operating in the BVI are now represented, note the seamless continuation of BVI services. 

It is also important that the premises of BVI Financial Services Commission, regulating the financial industry, survived the hurricane. So, they became operational in some days, and full functionality has been restored to the online company registration portal.

Interim Executive Director at BVI Finance, Lorna Smith, said that there was a keen determination among industry partners to ensure the survival of financial services as part of the overall recovery for the British Virgin Islands.

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