The advantages of British Virgin Islands' companies as vehicles for cross-border trade have been highlighted at a recent forum in Hong Kong, which brought together business leaders to discuss China's "Belt and Road" initiative.
More than 650 forum delegates discussed the opportunities arising from the Belt and Road initiative, a strategy to bind the economies and cultures of more than 60 countries by land and sea. By 2050, the aim is that the Belt and Road region will account for 80 percent of global GDP growth, and three billion more people will be advanced into the middle class.
Elise Donovan, Director of the territory's Asia Pacific business promotion office, BVI House Asia, highlighted the benefits of BVI companies. She said they play an important role in international investment flows and have been the vehicle of choice for successful Chinese firms trading across the world, as well as being used by businesses as listing entities on the London, New York, and Hong Kong stock exchanges.
Donovan said the territory's attributes, including a legal system based on English common law, internationally compliant regulations, and tax neutrality made the British Virgin islands an especially attractive jurisdiction to channel outbound Chinese investment, concluding: "... the British Virgin Islands stands ready to support companies that continue to reach out to Belt and Road markets.