Thursday, January 20, 2022 – The British Virgin Islands (BVI) has once again been presented with the global award for Best Offshore Financial Services Centre by Capital Finance International (CFI.co), in recognition of the “crucial role it plays in the global economy”.
This repeat win means the BVI has captured both the CFI.co’s 2020 and 2021 awards. CFI.co, a major print journal and online resource reporting on business, awards organisations that contribute significantly to the convergence of economies and add value for all stakeholders.
BVI Finance Chief Executive Officer Ms. Elise Donovan commented, “This award being received at this time signifies that the BVI financial services industry is resilient, robust, well-built and world-class. It goes without saying that the entire world is experiencing major shifts that have affected not only our business, but our humanity. The BVI is poised to and has responded to these shifts with the expertise, skill and efficiency we are known for globally. This win is also the perfect start to our 20th anniversary celebrations this year.”
She continued, “BVI Finance is honoured to accept the award on behalf of all our industry practitioners, our regulators, the BVI Financial Services Commission, the Financial Investigation Agency, the International Tax Authority, and our policy makers, the Government of the Virgin Islands, who all work together to ensure our financial services continue to meet and exceed global standards of excellence.”
The CFI.co’s judges’ report lauded the BVI’s financial centre for helping to connect global markets and stimulate capital flow, and its continued digital engagement with key stakeholders through its regular presence on the global conference and trade show circuit, and further stated: “[BVI] adjusted to complications and moved forward with technical innovation – and managed to achieve strong yearly results, with business up by 40 percent. In some areas, it was the highest growth rate seen over the past three years.”
The judges’ report also described the BVI as a jurisdiction that “boasts an innovative and internationally recognised regulatory regime” with a business-friendly operating environment and no taxes on capital gains or withholdings.
BVI Finance is the voice of the industry, responsible for marketing and promoting the BVI’s international business and finance centre.
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