Premier Smith Provides Update On Beneficial Ownership Registry
22/12/2015
Update on Beneficial Ownership Registry
The Government of the Virgin Islands was successful in getting recognition of the Territory’s ‘largely compliant rating’ by the Organisation for Economic Cooperation and Development (OECD) Global Forum, and agreement by the United Kingdom to restate that it is not appropriate for the Overseas Territories (OT) to be labelled ‘tax havens’.
In a statement delivered during the First Sitting of the Fifth House of Assembly on Monday, December 21, Premier and Minister of Finance, Dr. the Honourable D. Orlando Smith, OBE provided an update on the Beneficial Ownership Registry and stated, “The crux of the beneficial ownership issue is to ensure that we know who beneficially own BVI companies and have the ability to share that information with competent authorities and law enforcement authorities in a timely manner, if and when the need arises.”
To read the full article, visit the Government of the Virgin Islands' Website.