Premier and Minister of Finance of the British Virgin Islands (BVI), Honourable Andrew A. Fahie, has reiterated the support of the Territory’s Government for working with the United Kingdom Government (UKG) towards implementation of a publicly accessible register of beneficial ownership for companies, “in line with international standards and best practices as they develop globally,” with certain reservations.

Mr. Speaker, I will now make a statement on the British Virgin Islands’ (BVI) Beneficial Ownership Secure Search System (BOSSs).

Mr. Speaker, I will now update this Honourable House on the BVI Financial Services Sector, moving forward together.

The Beneficial Ownership Secure Search system (BOSSs) continues to place the Virgin Islands on the cutting edge of beneficial ownership information exchange with the capability of responding to requests in real time.

I say good day and God’s blessings to everyone here at home in the Virgin Islands as well as to our wider financial services industry family all around the world.

The International Tax Authority is informing Entities that with the recent updates to the BVIFARS, users can now update necessary information via BVIFARS such as changing the details of the primary user or deregistering an entity.

Mr Speaker, I rise to pay tribute and say thanks to one of this Territory’s most brilliant professionals, who has dedicated his lifetime to public service, and who has held some of the highest offices in this country, performing with distinction.

Continuing with its vision to lead through the Territory’s compliance with international standards on transparency and exchange of information for tax purposes by delivering services that create value for all stakeholders, the International Tax Authority  (ITA) announces the launch of its new website, https://bviita.vg/.

Mr. Speaker, the Government of the Virgin Islands is partnering with the United Nations Development Programme (UNDP) to assist Micro Small and Medium size Enterprises in the food services sector including restaurants, cafes and food vans.

 Industry experts highlighted the importance of cash and liquidity to ensure effective business continuity in light of the impact of COVID-19 at yesterday’s BVI Finance Breakfast Forum.