BVI Finance This Week 5/02/21

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08Feb

BVI Finance This Week 5/02/21

08 Feb, 2021 | View Counts (787) |Return|

FRIDAY 5 FEBRUARY, 2021

BRITISH VIRGIN ISLANDS RETAINS STATUS AS LEADING FINANCIAL CENTRE

Having expanded its offer of increasingly sophisticated financial products, the British Virgin Islands (BVI) is now a leading jurisdiction for company formations, registration of investment funds and structured finance issuers.

Over the last decade, the BVI has established itself as a major international financial centre. In doing so it has increasingly played an integral role in the global economy as a key facilitator with BVI incorporated companies, frequently used for cross border investment and joint ventures.

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BANK OF ASIA 2021 OUTLOOK: DIGITAL BANKING IS THE FUTURE

Digital banking has maintained rapid growth in 2020 because of its convenience and efficiency, shrugging off the challenges of the outbreak of COVID-19.

British Virgin Islands-headquartered Bank of Asia, serving global customers, has always been in the front line of the digitalisation of the banking industry.

Looking ahead to 2021, Bank of Asia will continue to lead the development of digital banking and to offer its customers professional cross-border financial services.

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NEW APPOINTMENTS TO BVI ASSOCIATION OF REGISTERED AGENTS

The BVI Association of Registered Agents is pleased to announce the election of two new members to its ARA Council, following our 2020 BVI ARA Annual General Meeting and the re-election of five existing board members for the period 2021-2022.

The current Council members who were re-elected for a new term are:

1. Liz Barahona - Icaza – Chairperson

2. Kerry Graziola – HARNEYS – Treasurer

3. Eric van Aalst – AMS - Legal Chair

4. Viola Salomon –SCZ - Promotional Chair

5. Catherina Baptiste – Rawlinson & Hunter - Social Chair

The newly elected Council members are:

1. Carolina Lacerda – CORPAG - Secretary

2. Sandra Vasquez – OMC – Education Chair

The Council Members would like to thank our outgoing members, in particular Charlotte Bailey and Wayne Francis, who acted as Chairperson and Secretary respectively, for their outstanding services and valuable contributions to the BVI Association of Registered Agents.

THE BVI INTERNATIONAL ARITRATION ANNOUNCES NEW REGISTRAR

Hana Doumal

The British Virgin Islands International Arbitration Centre (BVI IAC), an independent not-for-profit institution serving the demands for dispute resolution in the international business community, today announced the appointment of Hana Doumal as Registrar. She replaces João Vilhena Valério, who served as Registrar from the founding of the BVI Centre in 2016 until January 2021.

Ms. Doumal has a distinguished career, having served in the arbitration sector at leading international firms and arbitral institutions in Hong Kong, Washington, D.C. and Paris.

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SNAPSHOT: TO DEBT OR NOT TO DEBT? BVI STRUCTURES FOR PRIVATE EQUITY FUNDS AND DEBT PROVIDERS

The British Virgin Islands has long been a favourable jurisdiction to structure investment deals, either through the SPV (special purpose vehicle) asset holding company (for example real estate acquisition/holding) or further up the equity chain, due to its robust regulatory framework, creditor friendly company and insolvency legislation, ease and efficiency of company formation and being a tax neutral jurisdiction.

These key jurisdictional characteristics mean that the BVI is excellently placed to play nicely to the needs of private equity funds and debt providers when structuring their deals and deploying their considerable cash reserves.

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2020 FINANCIAL SERVICES AWARDS VOTING

This new year brings us the opportunity to celebrate our accomplishments of the past year. There is no better nor easier way to do so than to vote for your top person or business in each award category for the 2020 Financial Services Awards.

Please save the date and join us for the Awards Gala on March, 2021 (to be confirmed).

Click here to vote and also, click here to sponsor the event.