Financial services industry attracts more crypto investors
BVI Finance recently participated in the Dubai Fintech Summit 2023, where the organisation sought to attract more business in virtual assets and fintech industries.
Virtual assets are more popularly known as cryptocurrencies, while FinTech (financial technology) refers to technology that is used to support or enable banking and financial services.
According to BVI Finance, virtual assets and fintech are two areas that have grown significantly in recent years as the territory placed more focus on innovation, security, and regulatory compliance.
The BVI is also home to a number of virtual asset and fintech businesses, as well as a number of high-net-worth individuals who have chosen the BVI as their preferred jurisdiction for wealth management and asset protection.
That’s why the organisation used the Dubai Fintech Summit 2023 to promote the BVI as a viable jurisdiction for more business in these areas.
“Our participation in the Dubai Fintech Summit 2023 is an excellent opportunity to showcase the British Virgin Islands as a leading international finance centre for virtual assets and fintech,” said Elise Donovan, CEO of BVI Finance. “We’re excited to connect with industry leaders, particularly in the fintech space because it’s always evolving, and the BVI is committed to staying abreast of these changing trends.”
BVI Finance said they shared with stakeholders and financial services the benefits of virtual assets and doing business in the BVI.
They also showcased the territory’s robust regulatory framework, favourable tax environment, and experienced financial services industry professionals as key factors that make the jurisdiction attractive for businesses operating in the virtual assets and fintech space.
BVI Finance has the responsibility to promote the jurisdiction as a leading center for international business and finance. With one of the biggest financial services industries in the world, a recent report by UK-based research and consultancy firm, Pragmatix Advisory, found that investments mediated by BVI business companies support around 2.3 million jobs globally and generate an extra US$14 billion each year in taxes for governments worldwide.
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So nobody learned a lesson from the last crooked joo who the Miami Heat paid naming rights for FTX? Smh you all so pathetic any business white you all ready to accept.
The Order of Council the UK has holding over the BVI with the Financial Services Industry needs to be withdrawn immediately as it is high handed and not right. It is clear in the 21st century that order in council are simply modern-day slavery whips and is racist in nature and purely promoting dictatorship. It does not reflect good governance.
Lorna gonna take credit for all going forward
whereas at least one of the local banks threaten to close accounts that have anything to do with crypto! Go figure.
“a leading international finance centre” all good things come to an end and the BVI can only go on for so long buoyed by past reputation. If the BVI wants to be a hub for future business then not only does the infrastructure need enormous improvement but the culture needs a total transformation. International businesses find it incredibly tiresome dealing with the BVI offices as time and time again they are let down by an extreme unwillingness to get jobs done in a timely manner. BVI staff give a whole new definition to “kick the can down the road”. The competition is way ahead technologically and culturally, the BVI has a lot of catching up to do.
If Fintech is here in the BVI then why does it take all week to transfer $1000 from one local bank to another local bank? No matter what this article says it is still quicker and easier to visit an ATM withdraw the cash, walk to the receiving bank and deposit the same cash at their ATM. That ‘transfer’ is the essence of Fintech BVI style!
@any bets, Hon. Lorna to you cause I know you still can’t get over the upper cut she put in NDP and PVIM a** don’t talk about Fraser. She don’t have to take credit because she already have the credit.
You think she started this brand building today? She was there from Lavity days with the same VIP.
Take that to your crypto bank and save it. Oh I guess you don’t have credit cause it bad. LOL
Crypto investors
Dont tax for every transfer to attract investment. crypto is different.
Tax people stupidly every time they send to themselves and it will kill investment. Some countries hungry for tax have dropped the ball on this.
25% tax to send to yourself for example.
Green Bank