BVI Finance’s Head of Business Development and Marketing, Gary Hales, was recently interviewed by World Finance in London, where he had the opportunity to discuss the state of the British Virgin Islands (BVI) post Hurricanes Irma and Maria, as well as the BVI’s contribution to the global economy. At this time, BVI Finance was also inducted in the World Finance 100 for 2016.
In the interview, Hales explained how the BVI Business Company is used today compared to how it was used over 30 years ago. “There’s a wide range of reasons why companies are set up in BVI and a lot of it is to do with capital flow around the world. They’re holding companies for either real estate assets, for succession planning for families and for setting up joint ventures. Companies are set up for investment, so if people are putting funds in together to then invest in a different country, or a different initiative, then a BVI company is a great product to utilise, to enable them to do that”, said Hales. He went on to talk about the new Beneficial Ownership Secure Search system (BOSSs), calling it a “world-class, innovative system”.
Commenting on the impact from Hurricanes Irma and Maria, Hales said, “The business recovery plans of firms in BVI have been phenomenal.”
“Yes, there’s certainly upheaval in terms of people’s homes being destroyed and people living in one room, but everybody’s just pulling together, getting stuck in and making things happen. So that camaraderie, that support, and that desire to strengthen BVI and to make it even better than before, was apparent from literally day one.”
You can watch the full interview by clicking on the links below:
BVI Finance is committed to the ensuring the future development and progress of the BVI’s international business and finance centre through marketing and promoting the Territory as a flexible, innovative, attractive and cost-effective jurisdiction. Follow BVI Finance on Facebook, Twitter and LinkedIn for regular updates.