British Virgin Islands opens office in Hong Kong
05 September 2013
Category: News, Global, Hong Kong, United Kingdom, Asia Pacific
By Asia Asset Management
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:
Represent the BVI government in the Asia region;
Promote investment into the jurisdiction from Asia;
Strengthen ties with government authorities and the financial community;
Provide timely access to services for BVI business companies users;
Expand its relationship with mainland China in financial services, education, and culture;
Respond to social, political or economic inquiries in Asia.
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.