Premier and Minister for Finance, Dr. the Honourable D. Orlando Smith, OBE addressed leaders of the Territory’s financial services industry today at an update meeting hosted by BVI Finance.

The public, especially the BVI Financial Institutions that have reporting obligations to be satisfied in the year 2017 are being notified that the authority’s email and the web-based portal the BVI Financial Account Reporting System (BVIFARS) are down, as a result of the Tropical Wave that affected the Territory last week.

BVI House Asia held Capital Economics Report Asia Launch on June 22 in Regus Conference Centre, Hong Kong, together with BVI team in London. A live streaming presentation conducted by Mr. Mark Pragnell, Head of Commissioned Projects at Capital Economics, introduced “Five Myths Debunked – A Balanced Narrative for the BVI”. 

Ms. Elise Donovan, Director, BVI House Asia, outlined the role of the British Virgin Islands (BVI) and other international financial centers (IFCs) in the global economy, in a speech she delivered at the Malaysian Wealth Management Forum held at the Hilton Kuala Lumpur.

My Fellow citizens and residents of the Virgin Islands,

I come before you today at the mid-way point of this Government’s term.

I want to take this moment to update you on the progress we have achieved toward fulfilling the promises and commitments we made when you entrusted us to lead.

The Government of the Virgin Islands is pleased to announce that the Beneficial Ownership Secure Search system (BOSSs) has successfully gone live following the 1 July deadline.

BVI Financial Institutions (BVIFIs) are informed that the deadline to submit Enrolment Applications to BVI Financial Account Reporting System (BVIFARS) for CRS has been extended from the June 30, to July 31, 2017 and submission of reports from the July 31  to August 18 2017.

Government of the Virgin Islands received a high level of credit worthiness rating from Caribbean Information and Credit Rating Services (CariCRIS) with a stable outlook.

BVI has proven to be a real, balanced and sustainable economy, despite its relatively small size.

BVI Financial Institutions (BVIFIs) are informed that the BVI Financial Account Reporting System (BVIFARS) is being updated to accommodate reporting under the Common Reporting Standards (CRS) and will be unavailable on Monday, June 19 to facilitate same.