Beautiful Virgin Islands

Monday, Jun 23, 2025

Hong Kong Protests Pose No Issue For BVI Financial Services

Hong Kong Protests Pose No Issue For BVI Financial Services

The BVI’s Asia based financial services office has not been affected by the ongoing protests in Hong Kong, neither has the demonstrations affected Territory’s business in that region. This announcement was made by Premier and Minister for Finance, Hon.
Andrew Fahie in response to questions that were posed on the matter by Leader of the Opposition, Hon. Marlon Penn and Opposition Member, Hon. Julian Fraser.

For months, Hong Kong has been seeing repeated pro-democracy protests that started over citizens’ unhappiness about a Bill that was proposed.

In noting that the Territory has business interest and an office in that location, Hon. Fraser in his question to the Premier enquired about the safety of the staff of BVI House Asia.

In his question, the Leader of the Opposition noted that some 40 percent of the Territory’s financial services business is concentrated in Asia. Therefore, Hon. Penn asked the Premier if he has a team in place, focused on looking at this issue.

Hon. Fahie while responding to both questions at different intervals of the Q&A portion of the October 17 sitting of the House of Assembly, assured that the protests do not have any effect on the Territory’s business or its staff.

Hon. Fahie mentioned that BVI House Asia, under the direction of the Premier’s Office, has been closely monitoring the protests, which have been taking place since June 2019.

“The office staff is safe, and every measure has been taken to ensure that they are not placed in harms way at any period. The physical office is in a secure central location and under no threat from protesters. As such, they are able to continue to work as representatives of the Government of the Virgin Islands unimpeded,” Hon. Fahie told the House of Assembly.

Regarding the financial services industry, the Premier noted that the impact from the protests have been minimal, with no significant effect on the function of the industry as it relates to the BVI as a jurisdiction of choice.

“No evidence from any credible institution has been cited to indicate otherwise. With few exceptions, generally most protests are held on the weekends and are announced ahead of time so the authorities and the media are aware of impending obstructions,” the BVI leader stated.

Further, Hon. Fahie said that although the protests have spiraled into violence, it occurs largely around weekend hours.

Additionally, the Premier noted that economic loss due to the protests have surrounded transportation and Chinese businesses, etc., not the BVI’s financial services.

“Having no direct impact on financial services from a regional perspective. In the midst of the escalating civil unrest in the city, most business entities in the financial services sector have continued to operate as usual, including BVI House Asia,” he noted.

Meanwhile, Hon. Fahie disclosed that there is some resiliency in the sector. He pointed out, “While China and the Asia Pacific constitutes some 40 percent of the BVI industry, Hong Kong houses numerous corporate service providers with branch offices around the world, including BVI. These offices are globally positioned to continue business.”

Further, the Premier noted that his office has been continuously monitoring the situation to note any significant changes that would impede the function or impede uses of the financial services products.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
×