FRIDAY 30 JULY 2021

H O M E

A B O U T

EVENTS

BVI GLOBAL IMPACT

MESSAGE FROM THE CEO - REFLECTION ON EMANCIPATION

Elise Donovan

In honouring our proud traditions, the first week in August in the British Virgin Islands (BVI) is markedly abuzz with festivities in commemoration of the 1834 Proclamation of Emancipation from slavery in the then British colonies. This year, however, Covid-19 has not only disrupted the way we live, work and socialize, but has also taken the lives of colleagues, friends and loved ones.

While the number of fatalities, 31 to date, has been unprecedented for the BVI in modern times, we take this time to reflect on our history. In 1853, almost two decades after the Emancipation Proclamation, 942 Virgin Islanders died in the third global Cholera Pandemic from 1846 to 1860. Devastating loss was experienced in the then Virgin Islands population and today, we pause to share in a moment of a collective grief. 

We at BVI Finance and the financial services industry share our prayers and heart-felt condolences to those who are experiencing profound loss during this period. May we all be comforted by the memories of those who have left our sides and honour their legacies as we pave the future of our country together.  

There is no comfort to be found in words, yet we know that as Virgin Islanders, there is power in our history to overcome and stand strong. As our Premier, the Hon. Andrew Fahie, likes to say, “We will get through this together”.  The resilience of our people is aptly expressed in the Virgin Islands Anthem, penned by our 2020 Financial Services Future Leader Awardee Ayana Hull and her brother Kareem-Nelson Hull:

Out of the huts of history’s pain

Our ancestors bled and died!

But with strength and will power we overcame

To restore Beautiful Virgin Islands pride!

With immense pride, we hope to hear the Virgin Islands Anthem played on the world stage for the first time at the Tokyo Olympics 2021, where our athletic stars Kyron McMaster (Hurdles), Elinah Phillip (Swimming) and Chantel Malone (Long Jump) will be expected winners internationally on the Olympic podiums.

We wish you a Happy Emancipation and leave you with the closing words of the Virgin Islands anthem:

May God richly bless this country!

May we ask three things of thee…

Courage for our great leaders

That they may rule our destiny!

We ask for wisdom for our people 

That we may live in harmony!

And understanding for children

So they may cherish this legacy!

Please continue to follow the protocols and be safe and healthy!

BVI CORPORATE STRUCTURES VIABLE FOR AFRICA INVESTMENT

Adenike Sicard

Greg Boyd

Matthew Gilbert

Nicholas Kuria

Africa is ripe for investment and British Virgin Islands (BVI) corporate structures are viable to not only facilitate investment, but also scale businesses throughout Southern Africa.

A mixed panel of business professionals and financial services industry practitioners discussed the ways in which BVI corporate structures allow investors to maximise growth and mitigate risk during the July 13 Southern Africa CxO Roundtable, jointly hosted by BVI Finance and African Review.

Click here to read more and click here to view.

FINANCIAL CENTRES OF THE WORLD 2021: FOCUS ON THE BRITISH VIRGIN ISLANDS – AN INTERVIEW WITH SIMON GRAY OF BVI FINANCE

Simon Gray

On Thursday 22^nd July 2021, Simon Gray was interviewed by Mike Wardle of Z-Yen Group for an exclusive webinar under the theme: Financial Centres of the World 2021: Focus on the British Virgin Islands. 

In this webinar, Simon explores the favourable business climate of efficiency and innovation in our product and service offering that continues to make the British Virgin Islands so popular as an International Financial Centre. The webinar follows the BVI’s recent elevation in ranking from the Global Financial Centre's Index (GFCI) for top IFC for Latin America and the Caribbean region and its rising 14 places in its latest global index. 

Click here to read more.

BVI COMMERCIAL COURT HANDS DOWN JUDGEMENT IN LONG-TERM RUNNING DISPUTE CONCERNING LUNAN PHARMACEUTICAL GROUP LIMITED

Oliver Clifton

Meenaa Azmayesh

Yegâne Güley

Walkers has secured a comprehensive victory for its client, Ms Zhao Long, in a long running dispute regarding the ownership of shares in a significant PRC pharmaceutical company in a judgment of the BVI Court demonstrating the BVI Court's ability to effectively adjudicate complex cross-border commercial disputes involving PRC assets and wide ranging questions of both BVI and PRC law.

Click here to read more.

10 THINGS LAWYERS SHOULD KNOW ABOUT BVI TRANSACTIONS

The British Virgin Islands is one of the world’s leading international financial centres and is well known for its flexible commercial legislation and English-based legal system.

BVI companies feature prominently in all types of financing structures across many different sectors with investors located throughout the world. Here are the 10 things every finance lawyer should know about the BVI.

Click here to view.

OGIER IN BVI HELPS TO REPLANT THE MANGROVE FORESTS

Members of the Ogier team in BVI ventured into the swamp mud at the HLSCC mangrove nursery to plant a family of the trees as part of the territory's ongoing project to restore the forests.

Mangrove forests are essential to the local ecosystem, protecting the shoreline, creating a nursery for fish and other marine life, and trapping runoff and sediments. But in 2017, hurricanes left many of these habitats damaged and exposed to the elements. And so, to help mitigate the adverse impacts of climate change, the territory began a mangrove reforestation project.

Click here to read more.

SHANE DONOVAN APPOINTED PARTNER

Shane Donovan

Shane Donovan, a lawyer at Mourant BVI, has been appointed partner from 1 August. BVI Managing Partner Eleanor Morgan, said: "This is a significant moment for our BVI team and the Litigation practice. Shane has made an extraordinary contribution to our business and I'm really looking forward to continuing to work with him and to see him flourish in his new role as a Partner. Congratulations Shane!"

BUSINESS INSIGHT - JULY 2021: DISRUPTION

By being at the cutting-edge of innovation and embracing disruption, the British Virgin Islands (BVI) has always punched above its weight. The contributors in this edition of Business Insight delve into the complex world of digital disruption and decode the trends in cryptocurrencies, digital assets, FinTech and RegTech.

Click here for full magazine.

IN THE NEWS

Proposed G7 tax rules are short-sighted and ill-conceived

Corporate tax more important for Africa, Latin America than OECD countries

Resealing of Foreign Grants of Probate in the British Virgin Islands

Corporate tax increases move closer to reality

UPCOMING EVENTS

BVI Finance

Road Town, Tortola, BVI

www.bvifinance.vg