BVI Concludes Successful Dubai Roadshow
A British Virgin Islands delegation, which included representatives from Government and the private sector, recently concluded a successful road show in Dubai. The March 30th-31st event formed part of the delegation’s inaugural fact-finding
mission to the region’s financial capital. It featured a series of business
development meetings with senior officials from the Dubai International Financial
Centre and the Dubai Financial Services Authority. Those meetings were followed
by a private afternoon seminar entitled “Opportunities for Growth in Financial
Services”. Other activities included a cocktail reception at the iconic Burj Al Arab, where
over 100 delegates were briefed about new developments and opportunities in
the British Virgin Islands corporate, investment, and trusts sectors. Speakers
included Martin Mann QC, Managing Director and Chief Executive Officer of the
BVI Financial Services Commission, Robert Mathavious, and Director of the
BVI International Finance Centre (BVIIFC), Lorna Smith. They were joined by some of the Territory’s top financial services practitioners
in providing an update on the BVI’s
regulatory environment, legislation, and current trends in trust and corporate
business. According to Ms Smith, the trip was
significant for the British Virgin Islands delegation. “We are honoured to have been made to feel so welcome in Dubai, which
has so quickly become a major financial hub in the Middle East and Asian region,”
she commented. “We met with key officials from the Dubai International Financial Centre
and the Dubai Financial Services Authority who gave us a tremendous insight
into the region and how we may work together in upcoming partnerships. We will
certainly return to the region and hope also to be able to host our friends
from Dubai on a similar fact-finding mission to the British Virgin Islands,”
Smith noted. The BVI International Finance Centre was established in 2002 as part of the
Government’s commitment to support the financial services industry, and
the aim of the IFC is to give a voice to the BVI’s financial sector. The Centre’s launch marked the final stage in Government’s plans
to separate the marketing and regulatory functions of the Territory’s
financial services industry. Financial regulation is now the sole responsibility
of the BVI Financial Services Commission, which was also created in 2002. .
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