iNews Briefs, More & Community Events
Community Events
WED OCT 7
Next Wednesday is Quiz Night.
CARE – Cayman Animal Rescue Enthusiasts
SAT OCT 10
8th Annual CISPA Gala “Back to the Future-Celebrating 45 years of excellence”
Date: 10/10/2015
Time: 6:30 PM
Ritz Carlton Seven Mile Beach
Phone: 749 3360
Register
Event Description: The 8th Annual CISPA Gala “Back to the Future-Celebrating 45 years of excellence” is a time to celebrate Caymanians who recently attained their professional accounting designations as well as a chance to celebrate the past and look to the future
Directions: The Ritz Carlton, Grand Cayman
Apostle 13 & the Disciple of Demons
Play with music & dance
FOUR performances only
Opens Thu Oct 22- Sat Oct 24 7:30pm & Sun Oct 25 3:00pm
St George’s Anglican Church Hall
Tickets $15 (A) $5 (C) [Discounts for groups 10 or more]
Tel: 949 5583 or 916 4594 or at the door
NGCI tIDal shift
Mark your Calendar!
You’re invited to a special Young Patrons’ Circle late night event in conjunction with NGCI’s newest exhibition…
Friday, 16 October 2015, 5pm – 10pm
Join us at the National Gallery of the Cayman Islands for a late night of entertainment, live music, performance art, canapes, and fun! More details to follow – SAVE THE DATE and forward this to your friends.
RENT: The Musical
Opened Thursday September 10th, 2015
Runs to October 3rd, 2015
Thursdays, Fridays and Saturdays
Doors open at 6:30 PM for Happy Hour
try our special Tom Collins cocktail!
at The Prospect Playhouse
Do not miss out on the musical event of the year!
No Day but Today!
Click here for tickets: http://www.eventbrite.com/e/rent-the-musical-all-ticket-prices-in-us-tickets-17993960420?aff=ehomecard
See iNews Cayman review: “Rent The Musical is NOT Rogers and Hammerstein! But it’s Brilliant!!” at: http://www.ieyenews.com/wordpress/rent-the-musical-is-not-rogers-and-hammerstein-but-its-brilliant/
Please join the Cayman Jewish Community for the following programmes:
Sunday September 27th
6:30 pm Sukkot Under the Stars
Tuesday, September 29th
4:00pm Sukkot Children’s Party
Monday, October 26th
Mark Halawa: From Kuwait to Jerusalem
Wednesday, December 9th
4:00 pm Pardes Rock Chanukah Concert
Wednesday, January 6th 2016
Jerusalem Uncovered: Rabbi Avraham Stolik
Annual Meals on Wheels Dress Down Day
SAVE THE DATE
Dress Down Day Friday, 20th November, 2015
Help feed our Seniors we believe no-one in Cayman should go hungry.
Individuals can help by purchasing an orange ribbon for $5.00 or a tee shirt for $15.00 and wearing them on Dress Down Day, we are encouraging companies to match employee donations.
For more information or to sign up to participate please feel free to contact us via email at [email protected] or via telephone at 949-3905.
Public Consultation for Marine Parks
For more information of the proposed Enhanced Marine Parks System, visit http://www.doe.ky/marine/marine-parks-review/.
To submit an opinion about the proposals, email [email protected]
General queries can be directed to [email protected]
The deadline for submissions is Friday, 4 December.
AIMA – CAYMAN ISLANDS CHAPTER MEETING
Ron S. Geffner, Partner and Head of the Financial Services Practice will speak at the AIMA Cayman Chapter Meeting on US Regulatory Developments and the outlook for the US and Cayman investment funds industry on November 24th at 12:00 noon.
Speaker: Ron S. Geffner
Start Date: 11/24/2009
End Date: 11/24/2009
Location: The Wharf Restaurant, Cayman Islands
Associated: Ron S. Geffner
REDUCE RISK. ADD BUSINESS VALUE
Transforming your Risk Management Preparedness and Response Strategy into a Competitive Advantage.
ALM’s cyberSecure is a two-day event designed to unite business leaders and the entire risk management team. Keynote presentations, tracked sessions and hands-on workshops will provide attendees with powerful insights and essential connections necessary to implement a preparedness and response strategy that changes the conversation from financial risk to competitive advantage.
The event will kick off at 9:00 am on December 15 with an opening keynote presentation that will show you how to proactively monitor for, assess, and counter information security threats without going dark yourself. This opening keynote will prime you for the event by leading you through the landscape on:
How to safely pursue an offensive strategy
Examples from the health care and financial services industries
The latest ISP (Information Security Program) approaches and compliance initiatives
Upgrading of IT Systems and New Continuous Monitoring platforms in IT
Keynote Speakers:
Mauricio Paez Partner Jones Day
Bill Sieglein Founder CISO Executive Network
Visit the website to view the complete agenda. Take advantage of our early registration rates – Register by September 30 and save up to $400.
Cayman Islands Business Licensing Counter Offers Extended Hours
The Business Licensing Counter, formerly known as the Trade and Business Licensing Counter, will soon feature increased hours of operations to better serve the Cayman community.
As of 1 October, the counter on the first floor of the Government Administration Building will be open from 9am to 4pm, Mondays to Fridays. This will give an additional 3½ hours per week for persons to submit their trade and business, liquor, tobacco, and Special Economic Zone licence applications.
The counter falls under the remit of the Department of Commerce and Investment (DCI). Ryan Rajkumarsingh, the Director for DCI, said the change is being done to give clients more time to license their businesses.
‘We’re looking to make it as easy as possible for people to handle their trade and business licensing’, he said. ‘By extending our hours, we hope to encourage persons to meet their various licensing requirements’.
DCI’s main office and Cayman Brac office will maintain their usual hours of 8:30am-5pm, Mondays-Fridays.
ROWING FOR CANCER
Starting November 14, 2015
Craig Noble Attempting to Break Rowing Record to Raise funds for CICS
Cayman Charity Row – Spectators Welcome!
Date: 14th November 2015
Time: 0700hrs
Event: Cayman Charity Row – British Concept 2 Rowing machine 100,000 metres age group record attempt, currently 7 hours 11 minutes.
Location: Anytime fitness gym, Camana Bay
Open to all public who want to view and offer support
Visit the Cayman Charity Row webpage for more information: www.caymancharityrow.splashthat.com
Craig has set a Noble goal of raising $50,000 for the Cayman Islands Cancer Society as well as another $50,000 for the Children’s Tumor Foundation so please DONATE NOW at: http://www.active.com/donate/cancersociety
Cayman Islands Subway’s FOOD DRIVE to help Meals on Wheels
Now through Dec 6, 2015
Help us feed those in need this Thanksgiving.
Bring in any canned goods or non-perishable items to any Subway location before December 6th.
All proceeds to benefit Feed our Future, Meals on Wheels and a few other organizations dedicated to providing nourishment to the less fortunate.
Cayman Islands: NOTICE OF MRCU AERIAL OPERATIONS
Please be advised that the Mosquito Research and Control Unit (MRCU) will be conducting aerial operations over mosquito-breeding swamp areas on Grand Cayman, Cayman Brac and Little Cayman, from Wednesday 30th September.
These operations will involve low-level flights during the mornings and late afternoon. The operation will start in Cayman Brac and Little Cayman and continue until completion on Grand Cayman. Weather permitting the full application should be complete within 10 days.
The distinctive red and white MRCU aircraft will be applying the small pellets specifically designed to target mosquito larvae developing in aquatic habitats; this means preventing the occurrence of biting mosquitoes. Once the rains begin the pellets are activated and will provide control for up to two months. Low-level flights over specific areas are necessary to ensure that correct application and successful control of mosquitoes is achieved.
This is the third islands-wide treatment this year, on the Sister Islands and Grand Cayman. This will assist in providing control through the later part of the wet season. Some 12,000 acres of swamp are targeted in this operation in Grand Cayman, 411 acres in Cayman Brac and 490 acres in Little Cayman.
Residents may have noticed elevated numbers of mosquito biting across the islands. The recent rainfall and higher tide levels have caused this increase. The timely treatment of the swamp areas will help to alleviate this situation.
Further information and daily schedules can be found on the Mosquito Research and Control Unit’s Facebook page.
Please feel free to call MRCU with any enquiries on 949-2557.
Yo ho! Disney reopens Pirates of the Caribbean ride
By Sharon Kennedy Wynne From Tampa Bay Times
Yo ho, yo ho, the pirates are back at the Magic Kingdom, and you might notice some new smells.
Walt Disney World announced this week that the popular Pirates of the Caribbean ride is open again after undergoing a summer of fine tuning.
Capt. Jack Sparrow and his pals now have better lighting effects, fresh paint and the animatronic characters are cleaned up with new outfits. And you might catch a whiff of salty sea air or smoke from cannon fire.
“In addition to the restoration work and new paint inside the attraction, we added some enhanced special effects, including new cannons with water-based smoke and strobes for weather effects,” the park’s official blog announced, adding that there are even “a handful of new scents to experience at different areas of the attraction.”
One of the most popular rides at the Magic Kingdom, the pirates were put into dry dock for repairs May 11, missing the busy summer vacation season. There had been growing complaints from park visitors in recent years that the boats sometimes were taking on water or getting guests soaked on the ride’s big drop.
The last time Disney closed the ride for such a lengthy period was almost a decade ago in the summer of 2006 when it added characters based on Johnny Depp and other personalities from the Pirates of the Caribbean movies and the park also updated some special effects.
SG Riley calls for end to secondary screening at Caribbean airports
From The Daily Herald
BRIDGETOWN, Barbados–Secretary General (SG) of the Caribbean Tourism Organization (CTO) Hugh Riley has urged regional authorities to institute an Open Skies policy and, wherever possible, eliminate secondary screening at Caribbean airports.
He argues that an Open Skies policy would allow regional carriers to take unlimited flights to all Caribbean Community Caricom member states and encourage the growth of competition among carriers, while elimination of secondary screening would encourage greater demand for intra-regional travel.
Riley has also called for improved interline arrangements for “vastly enhanced” baggage transfer and improved passenger experience and collaboration in a number of areas, including intelligence sharing with the use of the Advance Passenger Information System (APIS), and security processing.
“Cooperation in these areas will encourage and facilitate greater investment by airlines into and across the Caribbean region. Better connectivity means greater economic benefits,” the SG said in an address at the recent airline route development forum World Routes 2015 in Durban, South Africa.
Citing the post-September 11 television campaign in the United States “Life Needs the Caribbean” and the 2007 Cricket Work Cup as examples, Riley said the Caribbean has shown its ability to put effective regional strategies in place and can do the same to grow travel into and throughout the region.
“This type of cooperation and collaboration needs to be the standard practice in serving the region’s various tourism needs,” he said.
Riley added that it was important to finalise and implement the amended Multilateral Air Services Agreement; facilitate unlimited third, fourth, and fifth freedom of traffic rights for scheduled passenger services from and between international airports and sub-regions within Caricom and establish a Caricom Single Domestic Air Space to help generate additional international traveller demand which, in turn, will encourage airlines to establish routes to the region.
The CTO boss contended that unnecessarily lengthy policy development and slow implementation processes in these areas, hinder progress.
Riley attended the World Route Development Forum – which attracts senior representatives from airlines, airports and tourism authorities who meet to plan and discuss new and existing global air services – to elevate the Caribbean brand, explore opportunities for the Caribbean, present the prospects for expansion and improvement of connectivity within the Caribbean, and discuss challenges facing regional and global aviation and offer solutions.
“I was pleased with the extremely high quality of the interactions we made in Durban and the level of interest there is in the Caribbean: interest in exploring the tourism potential between the Caribbean and Africa, as well as expanding into other non-traditional markets. I fully expect that contacts we made here will redound to the benefit of Caribbean tourism in general and CTO’s member countries in particular,” he said. ~ Caribbean360 ~
For more on this story go to: http://www.thedailyherald.com/index.php?option=com_content&view=article&id=58906:sg-riley-calls-for-end-to-secondary-screening-at-caribbean-airports&catid=2:news&Itemid=5
International Older People’s Day exhibition celebrates Nottingham’s first Caribbean Immigrants
From ITV
An exhibition telling the stories of Nottingham’s very first immigrants from the Caribbean is to be displayed during Older People’s Week.
‘From Caribbean Isles to the British Isles: Home to Home’ displays the personal items bought to the UK by Caribbean immigrants arriving for the first time during the Windrush Era.
Immigrants travelling to the UK during the Windrush were restricted to one suitcase per person
After the Second World War people from the Caribbean responded to adverts to work in the UK. Each person travelling to the UK was restricted to one suitcase per person during the sea voyage.
The items in the exhibition are displayed in vintage suitcases and range from ornaments to sentimental photographs and books.
IMAGE:Personal items are displayed in ornate vintage suitcases Credit: ‘From Caribbean Isles to the British Isles’ exhibition
Also on exhibit are the quintessentially British items that Caribbeans chose to send home to their family and friends.
More details about the exhibition showing at Bulwell Riverside at link below
Century Iron announces results of 2015 Annual General and Special Meeting
TORONTO, ONTARIO–(Marketwired – Sept. 30, 2015) –
Century Iron Mines Corporation (“Century” or the “Company”) (TSX:FER) is pleased to announce the results of the 2015 Annual General and Special Meeting of shareholders that was held on September 29, 2015 in Toronto.
At that meeting, the shareholders approved the following:
The change of the Company’s name to “Century Global Commodities Corporation”;
The continuation of the Company to the Cayman Islands under the Companies Law (2013 Revision) of the Cayman Islands (the “Companies Law”);
The re-appointment of PricewaterhouseCoopers LLP as the Company’s auditor for the upcoming year; and
The election of the slate of directors proposed by management to the Company’s board of directors (the “Board”).
Name Change and Continuation
At the meeting, the shareholders were asked to vote on two significant matters relating to the Company’s future plans. The shareholders approved a special resolution to change the Company’s name from “Century Iron Mines Corporation” to “Century Global Commodities Corporation” (the “Name Change”). The shareholders also approved a special resolution authorizing the continuation of the Company’s jurisdiction of incorporation from British Columbia, where it is governed by the British Columbia Business Corporations Act (the “BCBCA”), to the Cayman Islands, where it will be governed by the Companies Law (the “Continuation”). The reasons for both proposals are described in the Management Information Circular. Both the Name Change and the Continuation complement the Company’s current business plan of seeking new businesses, activities and investment opportunities involving commodities other than iron ore in various jurisdictions. As these opportunities could involve an expansion of the Company’s activities in scope and geography, the continuation into the Cayman Islands will provide the Company with the flexibility to undertake activities outside Canada by adopting a more internationalized corporate structure.
With respect to the Continuation, the Company announced during the meeting that management had learned in the process of consulting with shareholders prior to the meeting that, while shareholders are very supportive of the Continuation (as demonstrated by the fact that the Continuation was approved by 99.9888% of the shares voted), there was some desire that the Company should seek to more fully duplicate certain rights and privileges currently conferred upon shareholders under the BCBCA into the Memorandum and Articles of Association (the “M&A”) that will govern the Company as a Cayman Islands company. The proposed M&A are set out in the Management Information Circular for the meeting.
Management of the Company has considered this feedback seriously and has determined to complete a thorough review of the proposed Cayman Islands M&A with a view to revising the M&A to include expanded shareholder protections. Upon completion of this review, management will consider what amendments to the M&A should be recommended to the Board for approval in connection with the Continuation. It is anticipated that a further meeting of shareholders will be required to then approve the updated version of the M&A. Accordingly, it is also anticipated that the Board will not proceed with the Continuation until such time as a further revised M&A has been placed before shareholders for approval by way of a special resolution.
The Company anticipates that the Name Change will be completed in advance of the Continuation.
The results of the voting on the Name Change and the Continuation are as follows:
See attached
Sandy Chim, Chairman of the Board commented:
“I would like to take this opportunity to thank our shareholders for their overwhelming support. We are delighted to have virtually unanimous voting approval for the name change and continuation of the company to the Cayman Islands. These changes will position our company for success in our anticipated international business expansions and make us more compatible with other reputable international capital markets.
Our shareholders’ input in implementing these changes has been very encouraging. We will incorporate the applicable suggestions into the Cayman Islands M&A in line with the shareholders’ wishes in accordance with proper corporate governance process.
I look forward to working with our management team towards creating significant value for our shareholders.”
Auditor Appointment
At the meeting, the shareholders re-appointed PricewaterhouseCoopers LLP as auditor of the Company.
Director Appointments
Century is pleased to announce that, at the meeting the re-election of the previous directors of the Board was approved by shareholders. The voting results on the election of directors was as follows:
Results of the Proxies submitted for the Vote on the Election of Directors
See attached
Effective following the shareholder meeting, the Board of Directors elected Sandy Chim as Chairman of the Board, and Howard Bernier as Lead Director of the Board.
About Century
Century is an exploration and development company with significant properties in the prolific Labrador Trough in Québec, Newfoundland and Labrador, as well as the James Bay area of Québec. Century has two key strategic partners, WISCO and Minmetals, both Chinese state-owned enterprises. Each provides financial resources and technical expertise to assist the Company in advancing its projects. Century’s most advanced project is the Joyce Lake DSO project, a joint venture with WISCO located close to Schefferville, Québec. Century owns 60% in the joint venture and WISCO owns 40%. It is planned as a 2.5 million tonne per annum direct shipping iron ore project. A feasibility study was completed in March 2015. The Company is also committed to exploring and evaluating strategic opportunities outside of the iron ore market and to creating shareholder value through the efficient allocation of capital resources.
Century’s website is: www.centuryiron.com.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
THIS PRESS RELEASE CONTAINS “FORWARD-LOOKING INFORMATION” WITHIN THE MEANING OF CANADIAN SECURITIES LEGISLATION. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF CENTURY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. FORWARD-LOOKING INFORMATION INCLUDES INFORMATION THAT RELATES TO, AMONG OTHER THINGS, CENTURY’S INTENTION TO EVALUATE PROSPECTIVE TRANSACTIONS ARISING FROM THE REVIEW BY CENTURY OF ITS STRATEGIC OPTIONS AND ITS AVAILABLE WORKING CAPITAL. FORWARD-LOOKING INFORMATION IS BASED ON, AMONG OTHER THINGS, OPINIONS, ASSUMPTIONS, ESTIMATES AND ANALYSES THAT, WHILE CONSIDERED REASONABLE BY CENTURY AT THE DATE THE FORWARD-LOOKING INFORMATION IS PROVIDED, ARE INHERENTLY SUBJECT TO SIGNIFICANT RISKS, UNCERTAINTIES, CONTINGENCIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS AND EVENTS TO BE MATERIALLY DIFFERENT FROM THOSE EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING INFORMATION. THE RISKS, UNCERTAINTIES, CONTINGENCIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING INFORMATION MAY INCLUDE, BUT ARE NOT LIMITED TO, RISKS GENERALLY ASSOCIATED WITH CENTURY’S BUSINESS, AS DESCRIBED IN CENTURY’S ANNUAL INFORMATION FORM FOR THE YEAR ENDED MARCH 31, 2015. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE CENTURY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Century Iron Mines Corporation
Robin Cook
Director, Corporate Development
416-977-3188, ext. 109
Indo-US pact to combat black money to get operational
From Live Mint
The pact aims to cover automatic sharing of information on bank accounts as well as financial products such as equities, mutual funds and insurance
IMAGE: An official agreement on the Foreign Account Tax Compliance Act (FATCA) was signed by the then revenue secretary Shaktikanta Das (left) and US ambassador to India Richard Verma in July in New Delhi. Photo: Mint
New Delhi: The ambitious anti-offshore tax evasion and black money detection pact between India and the US—Foreign Account Tax Compliance Act (FATCA)—will become operational from Wednesday.
The pact aims to cover automatic sharing of information on bank accounts as well as financial products such as equities, mutual funds and insurance, and is aimed at fighting the menace of black money stashed abroad.
“The Foreign Account Tax Compliance Act (FATCA) will get operational from September 30 as it was decided between the two countries. All protocols and procedures have been put in place by Indian authorities in this regard,” a senior finance ministry official said.
Beginning Wednesday, banks, mutual funds, insurance, pension and stock-broking firms will report their Indian client details to the US which will be shared with New Delhi. Indian entities will do a reciprocal information sharing about Americans and it will cover all new accounts opened by Indian financial institutions from 1 July 2014.
An official agreement in this regard was signed by the then revenue secretary Shaktikanta Das and US ambassador to India Richard Verma in July in New Delhi.
The Central Board of Direct Taxes (CBDT), the nodal body to deal with the activities under this pact and the apex policy-making body of the income tax department, has also created an information security committee (ISC) as part of the standard operating procedures to implement the pact. If a financial institution does not comply to FATCA, it will have to pay 30% penalty tax on all its US revenues, including dividend, interest, fees and sales.
The pact will also help India deal with the menace of black money in foreign shores and will enhance cooperation between India and US in this specialised area. The US had enacted FATCA in 2010 to obtain information on accounts held by US taxpayers in other countries. It requires US financial institutions to withhold a portion of payments made to foreign financial institutions (FFIs) who do not agree to identify and report information on US account holders. The US has signed the said pact with over 100 jurisdictions across the globe and is engaged in related discussions with many other nations.
For more on this story go to: http://www.livemint.com/Politics/zUwpztEUcV7dXwIq3gegGJ/IndoUS-pact-to-combat-black-money-to-get-operational-Wednes.html
Keeping in STEP with industry leaders
From Simcocks
High profile speakers will put the latest developments in trusts, estates and personal planning in the spotlight at The Isle of Man branch of the Society of Trust and Estate Practitioners’ (STEP) annual conference.
One of the highlights of the fiduciary calendar the event, which attracts more than 100 delegates, will take place on Wednesday October 21 at the Palace Hotel in Douglas.
Sponsored by Maitland the focus will be on the latest developments in trusts and estates and personal planning and aims to deliver insightful and practical commentary from experts in tax, estates and trust law, trust administration, accounting and financial planning.
This year Dawn Goodman from Withers Worldwide will speak on Divorce, disclosure, doubt and disaster while Nicholas Warrington from HRMC will discuss the new world of offshore tax transparency and HRMC’s approach to tackling offshore non-compliance. Nicholas le Poidevin QC from New Square Chambers will give an update on the Crociani case following the Supreme Court decision and Nick Jacobs of Wragge Law will examine Family Governance: How do you get families to engage in serious governance and succession planning?
Chief executive of Simcocks Phil Games will examine Mental Capacity – Trustees/Protectors and Stephen Arthur from Temple Tax Chambers will assess Tax investigations, from a practitioner perspective – cross border tax enforcement, direct or indirect? AML compliance and anti-trust tax collection laws in other jurisdictions.
Anthony Markham and Catherine Burge from Maitland will take to the podium to analyse Automatic exchange of information and facing the consequences.
Chairman of STEP Isle of Man, Kevin Walmsley said: “The Isle of Man is a leading jurisdiction for private client and trust business and that is reflected in the calibre of the presenters and attendees that are attracted to this conference. The number of attendees grows year on year and through a combination of top class speakers and topical subjects. I think it is safe to say that the STEP annual conference has now established itself as one of the leading events on the Island for the fiduciary sector.”
Registration for the event takes place from 8.30am for a 9am start. Bookings need to be made in advance and enquiries should be made to [email protected]
For more on this story go to: http://www.simcocks.com/news/company-news/keeping-in-step-with-industry-leaders/
BVI remains a trusted partner in Asia Pacific region
By Nadia James-Harris Information Officer II BVI Premier’s Office
BVI House Asia has celebrated its second anniversary in Hong Kong and Premier and Minister of Finance, Dr. the Honourable D. Orlando Smith, OBE is pleased that the Territory remains a trusted partner in the Asia Pacific Region.
In an address to business leaders at the Business BVI Asia 2015 Second Annual Regional Conference in Hong Kong, Premier Smith stated, “We are still in the right place and at the right time. The BVI is immensely proud and fortunate to have been working with Asian businesses and individuals as they achieved economic success and Asia experienced incredible growth over the last 25 years.”
The Honourable Premier said Asia will continue to make its mark with vitality, financial success and innovation. He added that despite some current concerns, the economic experts predict a reasonably good outlook for Asia’s future.
“The BVI remains at the forefront of international corporate structuring for cross-border transactions and investing worldwide,” Premier Smith said.
Premier Smith stated that the Territory’s characteristics, such as a familiar legal system based on English common law, internationally compliant regulations and tax neutrality, make the BVI an especially attractive jurisdiction for pooling capital globally and investing it in markets where legal barriers or political risks would otherwise deter investment.
Premier Smith also announced a number of significant BVI initiatives, including the BVI Financial Services Commission’s establishment of an office at BVI House Asia to work directly with regional clients on BVI regulatory matters. He added that the BVI
Financial Services Commission will launch special external access to its platform for filing transactions in November.
Presentations made at the conference included “China’s One Belt One Road Regional Development Strategy”; “Future Disruption in the Offshore Space: Where will the next ‘Uber’ come from?” and “Emerging Wealth in China: Millionaire Households & Ultra High-Net Worth Households.”
Director of Economics Unit, The Economist Group, Beijing, Dr. Qian Liu also spoke at the event and stated that the “BVI is sitting on a sweet spot with the rise of China”.
Other notable speakers included Justice Barry Leon of the High Court of the Virgin Islands (Commercial Division); Jonathon Clifton, Group Managing Director of OIL; Matt Roberts, Partner of Harneys Hong Kong; Michelle L. Georges, Asia Representative, BVI Financial Services Commission; and Elise Donovan, Director of Hong Kong-based BVI House Asia.
Ms. Donovan said that BVI House Asia is proud to support Business BVI Asia for the second time in Hong Kong, a key global financial centre where they have had a physical presence since 2013. She said in addition, the office has recently launched a website to serve as a portal of information and will continue to expand its services to better serve BVI’s business partners in the region.
The conference was held on September 23 under the theme “Pivoting to Asia – A View Beyond the Horizon. Over 100 industry experts and leaders from the most progressive businesses in Asia and the BVI attended the event and exchanged insights and knowledge about the offshore industry. BVI House Asia, the representative office of the Government of the British Virgin Islands (BVI) in Asia Pacific, was pleased to be the sole diamond sponsor of the conference for the second consecutive year.
SOURCE: http://www.bvi.gov.vg/media-centre/bvi-remains-trusted-partner-asia-pacific-region
