Beautiful Virgin Islands

Tuesday, Jun 03, 2025

0:00
0:00

VI not a safe haven for shell companies - BVI Finance boss

Chief Executive Officer of BVI Finance Elise Donovan has sought to dispel the common notion that the Virgin Islands is a safe haven for shell companies to operate.
In a recent press meeting, Donovan said this was one of the main reasons behind the launch of the BVI 360 series. She said there is a misconception of what the BVI is as a jurisdiction and what happens within its financial services sector.

In that breath, she explained it was the responsibility of BVI Finance to provide accurate information and to highlight the value the territory provides to the local and global economy.

“We are doing legitimate business, high-value businesses and high-value transactions. We are doing big business and we are not just doing shell companies. We are doing important business that facilitates globalisation as a concept. In one of the articles we just put out, there is a question on the World Economic Forum about the future of globalisation and in that article, we point out that globalisation in itself has taken countries out of abject poverty,” Donovan explained.

“If you look at a country like China, 30 years ago they were considered a poor country and now China is the second largest economy. IMF and the World Bank have said in terms of purchasing power parity, they were the world’s largest economy. But when you see how a country like China has opened up, they had to open up and become the world’s manufacturers. Most of the things manufactured in China. They open up and for that, they need corporate structures to do cross-border trade activities and that is where you have international financial centres and the companies we provide specialise in providing those cross-border structures that facilitate them doing business across the globe,” the BVI Finances CEO continued.

She said China represents a significant percentage of BVI business – 35 percent based on the last Capital Economics Report. She added that the report indicated the Chinese businesses include Hong Kong and Macau.

“There has been a symbiotic relationship between BVI and China. So, we have seen the growth of China and it is going outward and with the use of BVI structures and they actually favour the BVI as a jurisdiction of choice for their outward growth and investments,” Donovan said.

She said things like these give confidence that anybody doing business with China has confidence in the English-speaking common law that is utilised in the territory.

“The legal certainty that we provide in this jurisdiction, it is very creditor friendly, so if anything happens to the company the first thing it is going to provide is for the creditors and that is what the BVI structure provides. It is flexible, it’s cost-effective. It’s the ease of doing business,” Donovan explained.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
China Accuses US of Violating Trade Truce
Panama Port Owner Balances US-China Pressures
France Implements Nationwide Outdoor Smoking Ban to Protect Children
German Chancellor Merz Keeps Putin Guessing on Missile Strategy
Mandelson Criticizes UK's 'Fetish' for Abandoning EU Regulations
British Fishing Boat Owner Fined €30,000 by French Authorities
Dutch government falls as far-right leader Wilders quits coalition
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
×