British Virgin Islands: BVI Brings ‘Opportunities For Growth In Financial Services’ Roadshow To Switzerland
Last Updated: 13 April 2005

13 APRIL 2005, London – The British Virgin Islands International Finance Centre (BVI IFC) is holding two roadshow events for Switzerland’s financial services sector. The events will take place at the Marriott Hotel in Zurich on Monday 25 April and at the Mandarin Oriental du Rhone Hotel in Geneva on Wednesday 27 April. Under the theme, "BVI - Opportunities for Growth in Financial Services," the roadshows will highlight recent developments in the regulatory and legislative frameworks in the BVI, and the measures introduced to enhance the jurisdiction’s attractiveness and accessibility for international business.

High-level Government and regulatory officials from the BVI, together with senior representatives from the private sector will make presentations to business, financial, and legal professionals such as corporate and commercial lawyers, international taxation specialists, estate planning practitioners, foreign trade and investment advisers and private wealth managers. The presentations will cover relevant aspects of the regulatory, legislative and business environments including: Financial Services Commission (FSC) Regulations, new trust legislation and investment business developments. The programme will also include an update on the legislative framework surrounding the business infrastructure of the BVI, including recent measures taken as a result of the EU Savings Taxation Directive and new Insolvency safeguards implemented to offer better protection to creditors.

Deputy Chief Minister and Minister of Finance Hon. Ronnie W. Skelton will give the opening remarks and will make particular reference to the successful partnership and collaboration between the Government, the regulator and the private sector in the BVI. Robert Mathavious, Managing Director and CEO of the BVI Financial Services Commission, will give an overview of the current global regulatory environment, emphasising the features of the new Business Companies Act and other recent pieces of legislation enacted in the BVI. Each event will also feature a Keynote Speaker.

Minister Skelton said: "The financial services sector contributes a significant portion of the BVI Government’s revenue and continues to grow and expand, with Switzerland being a key driver of that growth. We want to use these roadshow events to emphasise how, through the quality of our people and regulatory environment, we have created an innovative, efficient and respected international finance centre in the BVI that the Swiss professional services community can continue to rely on for its business solution needs."

Lorna Smith, Executive Director, BVI IFC added: "Switzerland has long been an important business partner of the financial services sector of the BVI, and the BVI International Finance Centre is keen to develop this relationship further. Over the last 18 months, our roadshow events have proven extremely successful in highlighting the developments we have made to make the BVI a premier centre for international business.

"Switzerland is the ideal jurisdiction for us to visit at this time, to continue what has been a very successful awareness campaign for the BVI IFC thus-far. We look forward to a similar response from the attendees in both Zurich and Geneva as we have had in the other places that we visited."

"In addition to these speakers, a number of representatives from the international financial services private sector will make presentations and facilitate various break-out sessions where they will lead discussions and answer questions on the topics presented. A gala cocktail reception will conclude each event, providing an opportunity for the delegates in attendance to network and engage in further discussions in a relaxed social atmosphere."

Switzerland is the latest stop for the BVI roadshow, which has visited a number of key international financial centres across the world since the event was first launched 18 months ago, including: London (October 2003); New York (March 2004); Singapore and Hong Kong (May 2004) and Miami (November 2004.)

For further information contact:

Lorna Smith
BVI International Finance Centre
+1 284 494 1509

Jonathan Smith
Edelman Financial Services & IR
+ 44 (0) 20 7344 1281

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