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BVI Government Establishes London Office

by Amanda Banks, Tax-News.com, London

03 September 2002

BVI Chief Minister, the Honourable Ralph T. O'Neal announced last week that the government has purchased property in London, with the intention of creating a base for the promotion of the territory's interests in the UK and in Europe.

Speaking to the Legislative Council, the Chief Minister announced that the Mayfair base will 'serve as a focal point for collection of information of interest to the territory from the United Kingdom and European sources, including the monitoring of political and economic trends.'

He continued: 'On the other hand, it would also facilitate the dissemination of information about the territory throughout these areas, including promotion of tourism, financial services and other areas of trade.'

However, in response to a question from the Leader of the Opposition, Dr. the Hon D. Orlando Smith, Mr O'Neal admitted that a cost benefit analysis was not carried out prior to the purchase of the £4.7 million leasehold.

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