The British Virgin Islands (BVI) launched on September 4 its Asia Pacific regional office, BVI House Asia. The office, located in Hong Kong, is designated to expanding and deepening the BVI's footprint in Asia Pacific with a focus on financial services.
The launch of the BVI House Asia comes amid growing demand for closer ties with the jurisdiction, particularly in the Greater China region. More than 40% of BVI financial services business is from Asia.
“Deepening the commercial footprint of financial services in this critical market has always been our goal,” stated Dr. D Orlando Smith, premier of the BVI. “With a close economic relationship in this region for over a quarter of a century, we are delighted to be part of one of today’s leading financial centres.”
As a central hub for Asia Pacific, BVI House Asia will:
In Asia Pacific, the BVI provides a wide range of services including: asset protection, property holding, financial management, trading, copyrighting, bespoke trust services, and investment business.
"By establishing a physical presence in Asia, we are providing support to our industry to better serve Asian corporates. We see a growing and continued demand for BVI financial services including trusts and succession planning from clients in Asia, including Mainland China,” Dr. Smith added.
More than 100 representatives from governments, leading financial services practitioners and other notable guests gathered at the British Consulate in Hong Kong on September 5, 2013 for an evening reception to mark the official launch of BVI House Asia. The event was hosted by the British Consul General to Hong Kong and Macau, Ms. Caroline Wilson.
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