How would you describe the current regulatory environment in the BVI, and how has it evolved over the years? The BVI business company (BVI BC) and the broader BVI financial services industry are widely recognized as essential enablers of global commerce, establishing the BVI as a prominent international financial centre. With the evolution of its financial services landscape, the BVI has progressed from primarily facilitating company incorporations to offering valueadded services encompassing corporate, commercial, fund management, and succession planning products. The BVI BC JULIA SHAMINI CHASE An Interview With... has gained popularity as an assetholding vehicle and secured listings on international stock exchanges. To support its sophisticated offerings, the BVI has developed a robust regulatory framework to prevent misuse of its products, services, and jurisdiction for illicit activities such as money laundering, terrorist financing, and proliferations financing. Compliance with the FATF recommendations and OECD guidelines is a priority for the BVI, demonstrated through its ongoing good standing ranking and membership in the Caribbean Financial Action Task Force. Building upon its solid foundation, the BVI introduced comprehensive legislation for virtual asset service providers in February 2023, following the establishment of the BVI Fintech Sandbox regime in 2020. The Sandbox regime allows eligible fintech service providers to test their innovative products and services in a quasi-regulated environment. Investors have consistently shown interest in leveraging the BVI’s exceptional financial landscape to facilitate their trade. In summary, investors recognize the BVI as an allencompassing business environment emphasizing a harmonious blend of innovation, usability, and regulation. Gold Leaf has been an active observer and stakeholder, witnessing and participating in the evolution of the BVI’s regulatory landscape. Our deep-rooted relationship with relevant stakeholders and regulators has enabled us to foster a strong Pioneering Compliance Leader and CEO of Gold Leaf Consulting Limited Finance Monthly. Business & Economy 29
RkJQdWJsaXNoZXIy Mjk3Mzkz