Ogier has welcomed the announcement of a public/private partnership between the financial services sector and the BVI government to create a new sector marketing and business development body.

Ogier’s Practice Partner in BVI, Ray Wearmouth, is a member of the interim board of BVI Finance Limited, which will launch in January with the aim of promoting the industry and developing new opportunities.

The new body will exist under a new corporate structure giving it more autonomy and flexibility, in line with similar organisations in Bermuda, Cayman and Jersey.

The announcement comes as the jurisdiction progresses along the BVI Forward strategy, which places an emphasis on substance-based growth, and attracting corporate headquarters, family offices and more value-added services.

Ray said: “This is a key development for the Industry which has been carefully planned and well executed to date.

“We can look forward to BVI Finance Limited launching early next year and making a major contribution to the industry.

“The combination of the new marketing model and the BVI Forward strategy demonstrates that the government and the industry are co-operating closely on the way forward for the jurisdiction, which can only be very positive.”

Photo: Ray Wearmouth- Partner –British Virgin Islands

About Ogier

Ogier provides advice on the British Virgin Islands, the Cayman Islands, Guernsey, Jersey and Luxembourg law through our network of offices that also includes Hong Kong, Shanghai and Tokyo. We are the only law firm to advise on these five laws.

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