BVI Finance delegation engages New York wealth planners, investors and advisers on the Territory's legal framework and succession planning innovation
The British Virgin Islands (BVI) was presented as a jurisdiction of choice for asset protection and succession planning to an audience of leading New York wealth planners, investors, advisers and international business professionals at Outbound Investment Summit USA 2026.
Held at the New York Hilton Midtown from 24 to 26th September, the Summit brought together more than 400 business leaders, investors and advisers from 40 countries to explore the future of cross-border business, investment and wealth planning. BVI Finance supported the event as a Silver Sponsor.
On stage, the BVI was represented by Hon. Lorna G. Smith, OBE, Minister for Financial Services and Economic Development; Elise Donovan, CEO of BVI Finance; and Christopher Simpson, Partner at O'Neal Webster. Alongside the Summit, the BVI delegation held a series of meetings across New York, including a visit to BVI Finance member JTC Group at its New York office.
As wealth becomes more internationally mobile and families plan across generations and borders, advisers are placing greater weight on whether the structures they recommend will hold over time. That puts legal certainty, regulatory credibility and the depth of a jurisdiction's legal framework at the center of succession and asset protection planning.
In the opening discussion, Minister Smith joined Premier Hon. Mark Brantley of Nevis and Senator Hon. Jerome K. Fitzgerald, Bahamas Minister of Economic Affairs, to set out the BVI's case as a leading international financial center. Minister Smith highlighted the BVI’s robust legal framework, regulatory credibility and professional expertise as examples of why the jurisdiction has remained a prominent international financial center as the needs of global business evolve.
Elise Donovan, CEO of BVI Finance also presented to attendees, discussing what the strength of the BVI's legal framework means for succession in practice, noting that succession planning is not only the transfer of wealth, but of authority, control and judgment. She pointed to the BVI's Virgin Islands Special Trusts Act (VISTA) as an example of how the jurisdiction continues to develop its legal framework to support sophisticated succession and governance planning.
In a separate panel discussion, "Cross-Border Corporate and Wealth Structuring Opportunities from the World's Leading Financial Centers", Christopher Simpson, Partner at O'Neal Webster, one of the first law firms to establish exclusively in the BVI, represented the BVI. The panel also featured representatives from the Bahamas, UAE, St. Kitts & Nevis and was moderated by Matthew Sumner, Managing Director of Outbound Investment Group, sharing perspectives on the evolving opportunities for international financial centres in cross-border structuring and wealth planning.
Hon. Lorna Smith, OBE, Minister responsible for Financial Services and Economic Development, said:
“In our conversations with wealth planners, advisers and business owners in New York, it was clear that clients, from individuals and entrepreneurs to business owners, need more than structures that protect their assets. They are also looking for certainty over how those assets are held and managed, flexibility as their circumstances change, and clarity over how decisions are made over the long term.
“That is where the BVI’s legal framework is particularly important. It gives clients and their advisers confidence that the structures they put in place are supported by clear and established legislation. The VISTA trust regime is one example of this flexibility, allowing shares in a BVI company to be held in trust while responsibility for managing the company remains with its directors. This enables business owners to put long-term structures in place without transferring responsibility for the day-to-day running of the company to trustees.
“The BVI already has a strong foundation as a trusted jurisdiction for asset protection and succession planning. Our focus now is on building closer relationships with US advisers and ensuring the jurisdiction continues to evolve with the needs of their clients."
For further information, please contact:
Shamahl A. Smith
Communications and Research Officer
ssmith@bvifinance.vg
Tel: 284-852-1957
For international media enquiries, please contact:
MHP Group
Email: bvifinance@mhpgroup.com