The BVI showcased its role as a global financial hub and strategic partner for Latin America at the recent BVI Connect event on September 26, targeting STEP LatAm attendees. The oversubscribed event highlighted the BVI’s enduring global presence and its evolving services in the rapidly growing virtual assets sector, while reaffirming its commitment to security, compliance, and regulatory innovation.
The evening opened with remarks from Vanessa King, Managing Partner of O'Neal Webster, who emphasized the importance of cultivating strong global partnerships and reminded the attendees that the BVI has always been and remains a resilient and robust jurisdiction. Horacio Woycik, Managing Director, Business Development LATAM at Harneys Fiduciary, who was the key speaker for the evening, shared insights into the BVI’s financial services industry, highlighting exciting developments and opportunities for collaboration with Latin American markets. Horacio mentioned three key attributes that make the BVI particularly attractive to Latin American clients—tax neutrality, security/data protection, and flexibility.
Horacio went on to emphasize that the BVI offers more than just private client services, demonstrating its ability to support a diverse range of business lines. He further lauded the strong private sector in the BVI, with its international law firms and corporate services providers operating from multiple offices worldwide. He also noted that recent changes to BVI financial services legislation over the past year have enhanced the jurisdiction’s global standing as a white-listed jurisdiction with a robust regulatory regime, making it even more attractive for business.
Elise Donovan, CEO of BVI Finance, delivered the closing remarks, underlining the BVI’s unwavering commitment to being a trusted partner in international business.
BVI: A Trusted Global Financial Hub
The BVI’s pivotal role in global finance was underscored at BVI Connect, emphasizing its contribution to international business, cross-border investments, and wealth management. According to the Beyond Globalisation: The BVI's Contribution to Global Prosperity in an Uncertain World report, published by London-based economic advisory firm Pragmatix, the BVI supports global prosperity through efficient corporate structuring, a strong legal framework, and a robust regulatory regime. With over 40 years of experience, the BVI has become the jurisdiction of choice for global business and wealth management.
Leadership in Virtual Assets
As a leader in the virtual assets space, the BVI introduced its Virtual Asset Service Provider (VASP) legislation in 2023. This strategic move positioned the BVI as a frontrunner in the regulatory innovation of digital assets.
Global Footprint and Latin American Partnerships
The BVI’s global footprint continues to expand, with specialists and practitioners operating across major financial hubs and emerging markets. Latin America plays a critical role in the BVI’s success, with 20 percent of beneficial owners of BVI companies originating from the region. Latin American businesses have turned to the BVI for its expertise in corporate services, asset protection, and estate planning, recognizing the jurisdiction’s security protections, regulatory certainty, and customized financial solutions.
Commitment to Compliance and Security
The BVI remains firmly committed to international compliance and transparency while maintaining its strong stance on client confidentiality. The introduction of Financial Annual Returns aligns with global standards and ensures that the information is securely held by registered agents.
The BVI Government is actively consulting with stakeholders regarding public registers of beneficial ownership. It has committed to adopting a “legitimate interest test” to ensure that access to sensitive information is limited to those with a valid legal interest. Public consultations on this policy are ongoing, with the BVI Government striving to balance global transparency requirements with the protection of business security.
Certainty and Continuity for Businesses
With 40 years of experience, the BVI offers businesses certainty, stability, and a reliable regulatory framework. Recent amendments to key legislation, such as the BVI Business Companies Act further enhance the BVI’s ability to provide businesses with clear and adaptable solutions as they navigate an increasingly complex global economy.
The BVI Connect event showcased the BVI’s vital role in fostering global partnerships and serving the Latin American market.
“As the BVI celebrates 40 years of excellence in global financial services, it continues to be a trusted partner for cross-border transactions, corporate structuring, and wealth protection. Through its commitment to regulatory compliance, security, and innovation, the BVI remains a premier jurisdiction in the evolving financial landscape,” said Donovan.
For more information, contact:
Adrianna Soverall
Marketing and Media Relations Coordinator
asoverall@bvifinance.vg |Tel: 284-852-1957