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.