At the recent Outbound Investment Summit 2024 which took place in Shanghai, China from November 18 - 21, BVI Finance showcased the BVI’s position as a global hub for business innovation and wealth management. With expert speakers highlighting its strengths, the BVI’s role as a critical link for international business and wealth solutions was reaffirmed.
BVI's Unique Position in Private Wealth Management
“The BVI is committed to helping its partners located across Asia and beyond to achieve their multi-generational succession planning goals and is in a unique position to do just that,” emphasized Vicky Lord, Managing Director of Harneys Shanghai during her keynote presentation. She underscored the flexibility and innovation of BVI structures in addressing complex succession planning needs, asset protection, and family wealth preservation.
Lord showed how tools like the Virgin Islands Special Trusts Act (VISTA) and Private Trust Companies (PTCs) empower families and enterprises to achieve their wealth management and succession goals. These structures provide risk isolation, tax optimization, and the ability to navigate forced heirship rules, positioning the BVI as a leader in private wealth management solutions.
BVI: Bridging Asia and Global Markets
Tiger Zhang, Director of ICS Group, reinforced the BVI’s reputation as a global business hub during his presentation titled “Building a Stronger Corporate Structure: Why the British Virgin Islands is the Global Choice for Enterprises.”
“BVI serves as a critical link for Asian enterprises listing overseas,” Zhang stated, highlighting the jurisdiction’s role in pre-IPO planning, cross-border investments, and corporate structuring.
Key advantages of BVI structures outlined by Zhang included:
• Tax Neutrality: No capital gains, income, or stamp duty taxes.
• Incorporation Efficiency: Registration processes that take as little as 2-5 days.
• Global Connectivity: Seamless facilitation of international transactions, particularly for Asia-focused businesses.
Jenny Wang, Of Counsel at Forbes Hare Hong Kong, represented BVI Finance on the panel titled "International Standards and Best Practices in Investment Funds across Jurisdictions." Her insights highlighted the BVI's commitment to regulatory excellence and its pivotal role in the international investment funds sector.
On the final day of the event, Vicky Lord delivered a standout session on tax planning, wealth management, and asset protection. Engaging the audience with real-world examples, she highlighted the strategic use of a BVI Trust for safeguarding assets. In one compelling scenario, she demonstrated how a BVI Trust was structured specifically to protect assets from creditors and disgruntled family members.
Adding further depth to the discussion, Lord drew from her firsthand experience as legal counsel on the opposing side of such trusts, providing a rare dual perspective. Her insights into both the robustness and challenges of these structures offered invaluable takeaways for the audience.
Engaging with Industry Professionals
Christopher Chan, Managing Director of Ageis International Group, and his team managed the BVI Finance table along with Shane Baptiste, Asia Representative for the BVI Financial Services Commission (FSC). Together, they actively engaged with conference attendees at the BVI Finance table, providing in-depth information on the jurisdiction’s services and addressing questions about the BVI’s regulatory framework.
BVI Finance CEO Elise Donovan said, the presentations and interactions at the conference “truly demonstrate that the BVI continues to be the global choice for businesses and wealth solutions in China.”
For more information, contact:
Trevaughn Smith
Senior Administrative Officer (Project Manager)
tsmith@bvifinance.vg | Tel: 284-852-1957