BVI Finance Articles

In recent years, the BVI Restructuring and Insolvency Association (RISA) has been at the forefront of a rapidly shifting landscape, spearheading innovations to ensure the jurisdiction remains competitive and driving forward legislative change.

Remaining competitive as an International Financial Centre (IFC) requires a forward-looking and agile approach. In the British Virgin Islands (BVI), the industry associations are constantly working alongside the BVI regulators, Financial Services Commission (FSC), and BVI Finance to explore ways the jurisdiction can improve its offerings and create a seamless and efficient ecosystem for businesses.

The British Virgin Islands Bar Association plays a vital role in the jurisdiction, working diligently behind the scenes to ensure the functions of the judiciary operate smoothly at all times and the BVI remains at the forefront of global shifting regulations and developments.

The landscape of the global economy is changing rapidly. From the rise of cryptocurrencies and digital assets to the growing prominence of ESG and sustainable finance, International Financial Centres are at the forefront of this change, facilitating global growth and international collaboration.

The Organisation for Economic Co-operation and Development (OECD) released its final guidance on the Crypto-Asset Reporting Framework (CARF) and amendments to the Common Reporting Standard (CRS) on 10 October 2022, following a period of public consultation that took place earlier in 2022.

BVI Finance spoke to Matthew Cowman, Managing Partner of Walkers BVI about the firms’ two decades in the BVI and his own personal journey with the firm.

From the first official marketing delegation to Hong Kong in 1990, to being awarded the Order of the British Empire (OBE) by Her Majesty Queen Elizabeth II, Honourable Lorna Smith has played a key role in the success story of the British Virgin Islands (BVI) and is now looking to reach greater heights as the BVI’s first ever Minister for Financial Services, Labour and Trade.

Globalization is defined as the process of interaction and integration among people, companies, and governments worldwide. It is primarily an economic process of interaction and integration causing a growth in international trade and the exchange of ideas, beliefs, and culture.

Cryptocurrencies are exerting growing influence on traditional international financial systems. In the US in October 2021, the SEC approved the first bitcoin ETF and, in doing so, gave investors exposure to cryptocurrencies in a regulated environment.

BVI Finance hosted its “Taxing Times 3” webinar to provide an update and discussion on the status of the global implementation of the OECD’s Global Minimum Tax (Pillar Two, or GloBE Rules).