BVI CELEBRATES 30 YEARS AS A GLOBAL FINANCIAL CENTRE OF CHOICE

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315---PHOTO---BVI-CELEBRATESThe British Virgin Islands is celebrating 30 years as a well-regulated global financial jurisdiction, due to the enactment of the International Business Companies (IBC) Act, 1984 which was passed thirty years ago.

In honour of this milestone, the BVI International Finance Centre (BVI IFC), is hosting a series of commemorative events from September 17 to 25, under the theme “The IBC Act 1984…Ahead of Its Time”.

These events will include an IBC Act commemorative exhibit, a GIS special feature television programme, and radio public service announcements. The events are designed to educate the public about the history of the financial services industry, the IBC Act and its importance to the Territory.

Acting Executive Director of the BVI IFC, Ms. Sylvia Moses said, “The Act has had a profound impact on the global financial landscape. It was eventually repealed and replaced by the BVI Business Companies Act, 2004 which has further positioned the BVI as a well-regulated, successful international jurisdiction of choice.”

The IBC Act, 1984 was drafted by former BVI Attorney General Lewis Hunte; Paul Butler of US-based Shearman and Sterling law firm; along with Richard Peters, Michael Riegels and Neville Westwood of Harney, Westwood and Riegels.

In efforts to educate the public on the history of the financial services industry and the IBC Act, 1984, the BVI IFC has collaborated with a number of industry partners including: The BVI Financial Services Commission, Appleby (BVI), Harneys, Association or Registered Agents BVI (ARA), Newhaven BVI, Tricore Group, Ogier Legal, Intershore, O’Neal and Webster, Overseas Management Company Trust (BV) Limited, Step BVI, Rawlinson & Hunter and Maples and Calder. 315R/14 Page 2 September 12

The BVI International Finance Centre is solely responsible for marketing and promoting the BVI financial services which are carried out by a professional pool of individuals both locally and internationally.

For more information on Government initiatives follow us on Facebook, Twitter and YouTube at BVI Government.

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