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ASIAN INVESTORS IDENTIFY PATH TO FUTURE GROWTH THROUGH USE OF IFCS LIKE BVI
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Investors across key markets in Asia – including China, Singapore, Hong Kong and Vietnam – are increasingly turning to international finance centres (IFCs) like the British Virgin Islands (BVI) for the protection and risk mitigation of their assets, according to research commissioned by BVI Finance.
The research, conducted by leading specialist business banking market research and analysis firm East & Partners, highlights the considerable percentage of large corporates, high net-worth individuals (HNWIs) and institutional investors already engaged with IFCs and the significant number who plan to do so in the near future.
Elise Donovan, Chief Executive Officer at BVI Finance, said: “In a world where managing and mitigating risks is of paramount importance it is clear that major groups and significant individuals in Asia plan to significantly increase their use of IFCs, especially as the valuable role they can play in unlocking opportunities in a globalized world is recognised.
“The research shows that the BVI is often at the forefront of minds for these crucial segments. This is because of its reputation as an international investment and trade hub that adheres to all global standards, deploys leading-edge technology for clients and compliance and attracts and retains a dynamic and internationally minded talent pool. We are also top of the agenda for many Asian investors due to the market’s confidence in the BVI and the long-standing role we have played in the region’s growth over the last three decades. This is now all about how the BVI can help structure growth in the future and we look forward to further developing these relationships and partnerships in future.”
Click here to read the full article and download the white papers.
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BVI REPORTS NO ACTIVE CASES OF COVID-19
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Deputy Premier and Minister for Health and Social Development the Honourable Carvin Malone reported that there are no active cases of COVID-19 in the British Virgin Islands.
During an interview on the Honestly Speaking Radio Show with Host Claude Skelton Cline this evening, Honourable Malone reported that the eighth COVID-19 case had recovered in accordance with the Caribbean Public Health Agency (CARPHA) re-testing guidelines.
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The CARPHA guidance outlines that a re-test is carried out 15 to 20 days after the positive patient is diagnosed. Once the result of the first re-test is negative, a second re-rest is undertaken 24 hours after and when both re-test results are negative, the patient is then discharged and considered recovered from COVID-19 virus.
The Ministry of Health and Social Development’s epidemiological unit continues an aggressive contact tracing strategy in accordance with World Health Organization technical guidance.
There is no known vaccine and no specific antiviral treatment against the virus. Residents should continue to practice everyday preventative actions to help reduce the risk by frequent hand-washing, cough and sneeze etiquette, avoiding contact with visibly sick people, staying home when feeling ill and practicing social distancing of at least six feet.
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DENTONS OPENS OFFICES IN THE BRITISH VIRGIN ISLANDS
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Dentons has opened offices in the British Virgin Islands and St. Lucia as part of its expansion plans in the Caribbean. Dentons is the only Pan-Caribbean law firm, and with more offices in all of Latin America and the Caribbean than any other law firm, Dentons is the first truly Pan-Latin American and the Caribbean law firm in the history of the legal profession.
“Dentons’ new offices in the British Virgin Islands and St. Lucia enable us to meet client needs in two additional priority Caribbean markets for our clients,” said Elliott Portnoy, Global CEO of Dentons. “We can now connect our clients to our leading talent in the British Virgin Islands and St. Lucia as well as to our 19,000+ people in 184 locations across 76 countries around the globe."
Dentons’ new office in the British Virgin Islands is led by partner Stuart Bruce who has extensive experience handling complex, high-value cross-border matters across Banking and Finance, M&A, Private Equity and Joint Ventures, Corporate and Regulatory advice.
Click here to read the full article.
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AMS FINANCIAL GROUP ANNOUNCES NEW MANAGING DIRECTOR
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Eric van Aalst, Managing Director, AMS
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AMS Trustees Ltd. is pleased to announce the appointment of Eric van Aalst as Managing Director.
Eric van Aalst has held a variety of senior positions in the international corporate services industry over the past 30 plus years of his career, including 23 years in a business and product development role in New York, USA.
During his career he has assisted clients as diverse as public companies, alternative investments funds, family offices, privately held business as well as high net worth individuals to implement cross border planning strategies in close consultation with their professional advisors.
Commenting, CEO of AMS Financial Group Sukru Evrengun, said: “Eric joined AMS because he shares our vision, commitment to clients and our understanding of best practices in our industry. He brings a wealth of experience and knowledge to this important role. On behalf of the Board, I am delighted to welcome Eric to AMS.”
As Managing Director, Eric van Aalst will lead a team of dedicated professionals who stand ready to assist private, corporate and institutional clients with bespoke governance and trustee services.
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KALO MAKES CHANGES TO ITS BVI OFFICE
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Toni Shukla, Senior Manager, Kalo
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James Drury, Director, Kalo
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Member firm Kalo has promoted Toni Shukla to senior manager and James Drury to director in its BVI office.
Shukla has been with Kalo for almost two and a half years, prior to which she spent over 12 years at a global top 10 accountancy firm. She is a licensed insolvency practitioner in the United Kingdom, a member of the Insolvency Practitioners Association (UK) and the Recovery and Insolvency Specialists Association (BVI).
Drury joins Kalo from a ‘Big 4’ accountancy firm with 15 years’ insolvency experience. He has been in the BVI since 2015, and in that time has managed a number of high-profile, multi-jurisdictional engagements, including insolvency, restructuring, forensic and advisory focused engagements across multiple industry sectors.
BVI Finance congratulates both Toni Shukla and James Drury on their latest accomplishments!
Click here to read more on their appointments.
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RECOGNISE AND AVOID PHISHING SCAMS
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Phishing is an attempt to acquire information (such as usernames, passwords, and credit card details) or convince targets to open a document containing a malicious payload, by masquerading as a trustworthy entity in an electronic communication. They often directly request a financial transaction confirmation and include a link to complete this.
Email delivery is the primary source of malware dissemination. Cyber attackers rely on phishing attacks because they work and easily can target users several times a month. While enterprises do invest both large amounts of time and effort into mitigating phishing attacks, these attacks continue to be effective.
What should you do?
There are a number of ways to protect your organisation against phishing attempts and reduce the risk of falling victim to phishing:
- Educate employees and conduct training sessions with mock phishing scenarios.
- Keep all system current with the latest security patches and updates.
- Develop a security policy that includes but is not limited to password expiration and complexity.
- Deploy a web filter to block malicious websites.
- Encrypt all sensitive company information.
- Do not click on links or attachments from senders that you do not recognise.
- Do not provide sensitive personal information (i.e. usernames and passwords) over e-mail.
- Do not try to open any shared document that you’re not expecting to receive.
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BEING AN AGENT OF CHANGE FOR WORKPLACE MENTAL HEALTH
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In the past few months, and for the foreseeable future, employers have been or will begin soon to strategize ways to support employee mental health as workforces around the world continue to adjust to new work environments, the persistent risk of Covid-19, and an uncertain future. It takes a collective effort and bold leadership to drive lasting change in an organization, but the power of individual voices as well should not be underestimated. This is especially true when it comes to workplace mental health, since lived experiences and personal stories can resonate deeply and inspire many. The pandemic has impacted virtually everyone in different and difficult ways, but it has also created a common, relatable experience for most employees and their managers. Regardless of any prior mental health issues, everyone is navigating a new normal and dealing with the ways in which their own lives are changing in reaction to a global crisis. Whether an organization has a fully developed workplace mental health program or is just beginning to explore the path ahead, an individual employee can have significant impact in starting conversations and shifting workplace culture.
Click here to read the full article by Garen Staglin.
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UPCOMING EVENTS
June
BVI Finance Breakfast Forum
Webinar | 17 June | 10:00 a.m
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