Photo by: kobrekim.com
By Courtesy of Lowtax.net
The British Virgin Islands' Hong Kong representative office in Hong Kong recently held its first 'Meet the Regulator' session, to expand on the territory's ties with its many clients in the region.
More than 40 corporate service providers, lawyers, and other financial services practitioners attended the event, which was hosted by senior figures from the BVI Financial Services Commission (FSC). More than 40 percent of BVI business originates from China and the rest of the Asia Pacific region.
The FSC announced new measures to support its relationship with Asia, including an extension to its opening times to allow for an overlap with Chinese business hours, which are twelve hours different. BVI-licensed Hong Kong firms will soon be able to undertake company name checks directly.
Attendees were updated on the consultation regarding creating a registry on the beneficial ownership of companies, and changes to anti-money laundering and countering the financing of terrorism rules. The BVI also used the opportunity to promote its new arbitration regime.
