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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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