BVI To Become A World-Leading Finance Center, Says Governor
by Mike Godfrey, Lowtax.net, Washington
25 August, 2016
John Duncan, the Governor of the British Virgin Islands (the UK-appointed representative to the islands), has said the territory is poised to become one of the best regulated financial services jurisdictions in the world.
Duncan said this is as a result of a measured response to international regulatory challenges by the territory's leadership.
"As someone who has spent much of my previous career as a negotiator, I would like to pay tribute to the way the Premier and his team, supported by the various responsible local institutions, notably the Financial Services Commission, responded to this challenge."
He said: "Their measured yet steadfast stance and willingness to engage constructively have led us to a place where by the end of this year, the Virgin Islands will be one of the best regulated jurisdictions in the world. A place where companies involved in developing the global economy can continue to manage the risks of foreign direct investment, where the individual's right to privacy is protected, but also a place where money-laundering and criminal activity can be dealt with effectively."
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