Friday, August 1 – As the Territory’s preparation for the Diamond Jubilee Emancipation Festival celebrations moves into high gear, the BVI International Finance Centre (BVIIFC) is celebrating 30 years of the International Business Companies Act (IBC) in August. The IBC Act not only gave rise to the Territory’s financial services industry, but created a successful model which has been emulated elsewhere.
In observing the Pearl anniversary milestone, and as part of the BVI IFC’s educational campaign, the IFC will be releasing a series of radio public service announcements titled “BVI Finance Facts” throughout August. The BVI Finance Facts will be aired on local stations with useful information about the BVI financial services industry and the IBC.
Executive Director of the BVI International Financial Centre, Ms. Sylvia Moses stated, “Our financial services industry is one of our twin economic pillars and this radio campaign is part of an overall education campaign to inform the public on the importance of the industry to development and prosperity of the Virgin Islands.”
The Virgin Islands is renowned for incorporation of International Business Companies which was drafted and enacted on Aug 15th 1984. A BVI company, once created, is used to create wealth structuring mechanism for high net worth individuals and fuel investments globally making the BVI known as one of the favored offshore financial services centres in the world.
Due to its successful implementation back in the late 1980s, company incorporation exploded making it one of the most successful pieces of legislation in history; and it built the foundation of the BVI financial services Industry. Page 2 August 1, 2014
The BVI International Finance Centre is the government unit responsible for marketing and promoting the jurisdiction and the financial services industry.