BVI anticipates financial sector boom under new rules

Pedro Gonçalves
clock • 1 min read

The financial services sector in the British Virgin Islands is set to soar as the new economic substance rules are expected to triple the number of persons employed by the industry. Under the new rules, it is mandatory for offshore financial services companies to set up physical offices in the BVI. According to the director of international business, Neil Smith, while the 400,000 plus registered companies in that sector will be reduced, the number of persons involved in the sector is likely to triple on the ground. "That's where we will benefit because you will have more people here b...

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