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Regulators are sometimes unkindly criticised for having predicted all six of the last three recessions. Although it sometimes pays to be cautious, it is important that excessive caution does not stifle innovation and progress.

In the midst of the ongoing COVID-19 pandemic and resulting global economic downturn, the British Virgin Islands’ (BVI’s) financial services industry continues to thrive, retaining its global position as a leading International Financial Centre (IFC).

The BVI and Panama’s corporate relationship was explored by an expert panel of practitioners on one of the latest episodes of BVI Business Insight.

With curfews lifted, ports reopened to visitors, travel restrictions eased and an ongoing vaccine campaign, the BVI is officially reopening for business.

BVI’s corporate structures are ideal for Chinese investment, due to the strong and long-term relationship between the BVI and China.

BVI’s financial services products are well established and widely used all over the world, particularly in the areas of trust and succession planning. “The BVI has rich experience and knowledge... The BVI is well positioned and prepared to serve [clients globally],” said Lisa Lou, President of Bank of Asia.