Governor Augustus Jaspert does not support the United Kingdom’s decision to impose public registers of beneficial ownership on the British Virgin Islands.
Premier Dr D Orlando Smith gave that indication at a press conference after the controversial decision last week.
“He (the Governor) is disappointed because he’s put a lot of work into this as well,” Dr Smith told journalists.
“During the past several weeks while we’ve been dealing with this issue, certainly, Governor Augustus Jaspert has been working very hard … to help to avoid this result,” the Premier explained.
The decision to impose public registers forces the BVI to reveal the names of beneficial owners of offshore companies in the territory. The policy, which also affects other British Overseas Territories, is predicted to cause economic fallouts for the BVI.
Dr Smith said the decision “does not speak well about the partnership” between the BVI and the UK.
However, he noted that the decision to impose public registers was a move by the UK’s parliamentary Opposition and not the UK’s central government led by British Prime Minister, Theresa May.
Meanwhile, a meeting is being held on Thursday (May 10), when members of the Board of BVI Finance Limited will discuss the possible impacts of the UK’s decision. The meeting is also to ‘brainstorm ways the BVI will move forward’.
The meeting will be held at the Moorings Conference Room from 7pm to 9pm.
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