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BVI To Mount London Presentations In October
by Amanda Banks, Tax-News.com, London

07 September 2007

The British Virgin Islands International Finance Centre will be sending a delegation to London in October to undertake a series of presentations updating executives involved in the trusts and corporate business sector on the the growth of the BVIs' trusts and corporate business industries, their regulatory environment and current trends and opportunities in offshore finance.

The delegation will include Christopher McKenzie, partner, Walkers BVI, Kenneth Morgan, partner, Rawlinson & Hunter (BVI), Peter Larder, managing director, AMS Group and Helene Lewis, partner, SimonetteLewis.

The BVIFC will host evening presentations for London-based executives in the trusts and corporate business industries on Tuesday October 2nd and Wednesday October 3rd respectively. Both events will take place at The Dorchester at 6.30pm, followed by a cocktail reception.

The seminars will feature speakers from both the Public and Private sectors to bring the London market up to date with the growth of the BVI’s trusts and corporate business industries, their regulatory environment and current trends and opportunities in offshore finance.

Practitioners in the London trusts and estate planning and corporate business markets and other interested parties who wish to attend should contact George Farquhar at george.farquhar@fd.com.

The BVI International Finance Centre will also be arranging a series of tailored meetings with London’s leading private banks and corporate law firms, hosted at the offices of the respective firms.

Sherri Ortiz, Chief Operating Operator of the BVI International Finance Centre, comments: “The British Virgin Islands has enjoyed a long and fruitful working relationship with the London business and professional community and we are delighted to be back in London to update these sectors of the market on the BVI’s international financial services offer.

“The BVI has long been the leading international jurisdiction for corporate business. We are now also recognised as a key player in the trusts and estate planning market. We look forward to presenting and discussing existing opportunities with key practitioners in London next month.”

The BVI IFC has played a pivotal role in the promotion and marketing of the BVI as a leading financial centre. Established in 2002 as part of the Government’s commitment to support the financial services industry, the aim of the IFC is to give a voice to the BVIs financial sector. The IFC is committed to ensuring that the BVI retains the unique balance it has created in having a sound regulatory framework, an entrepreneurial business community and a government that is committed to developing innovative legislation.

The launch of the Centre marked the final stage in the government’s plans to separate the marketing/promotional and regulatory/supervisory functions of the Territory’s financial services industry. Financial regulation is now the sole responsibility of the BVI Financial Services Commission, which was also established in 2002.

Figures released in June by the BVIFC revealed that more than 65,000 Business Companies were registered in the British Virgin Islands in 2006, representing a 12% increase on 2005’s figure and establishing a new record for annual BVI company registrations.

The total number of BVI companies on its Register – both International Business Companies and BVI Business Companies – stood at nearly 775,000 as at December 31st 2006.

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