Hong Kong, May 18, 2017 - “BVI Business Companies are ideal vehicles for cross-border trade originated by the Belt and Road Initiative,” said BVI House Asia Director Ms. Elise Donovan on May 12 during a “Belt and Road” conference held in the Hong Kong Convention and Exhibition Centre.
The conference, which was attended by more than 650 business leaders, was organised by the Law Society of Hong Kong as a forum in which to discuss the opportunities arising from the Belt and Road initiative.
The Belt and Road initiative is a visionary strategy of the Chinese government to bind economic and cultural ties among countries along the Silk Road Economic Belt and the 21st Century Maritime Silk Road.. The initiative provides enormous opportunities for a wide range of businesses – from small, medium-sized enterprises to multinational corporations.
“For close to 30 years, BVI Business Companies have been the vehicle of choice for successful Chinese firms trading across the world. BVI Business Companies are among major businesses listed on the London, New York and Hong Kong stock exchanges. Major, well-respected companies worldwide use BVI Business Companies to manage their cross-border activities,” said Ms. Donovan.
“The important role of BVI Business Companies in international investment flows is evident from the data on foreign direct investment,” Ms. Donovan added.
According to the 2017 edition of the Vistra 2020 report launched in late April of this year, the BVI remains the top offshore jurisdiction worldwide. Ms. Donovan said that the BVI’s attributes – a legal system based on English common law, internationally compliant regulations and tax neutrality – make it an especially attractive jurisdiction to channel outbound Chinese investment along the modern Silk Road Economic Belt and 21st Century Maritime Silk Road.
Ms. Donovan said she greatly appreciated the conference theme because it perfectly resonated with what the BVI has been successfully endeavouring to be for more than 30 years – A Catalyst for Connectivity, Convergence, and Collaboration. As a result the BVI stands ready to support companies that continue to reach out to Belt and Road markets.