Good afternoon members of the media. As you know, this forum provides an opportunity for me to update on matters of the Government. And, especially this afternoon, I’d like to inform you of my upcoming travel to Asia.

We are deeply disturbed by the decision in the United Kingdom which threatens to impose public registers on the BVI.

It is now just over a week since the UK Parliament accepted an amendment to impose public registers of beneficial ownership on the Virgin Islands and other Overseas Territories. My Government continues to consider this a top priority for the Territory and to actively evaluate the implications of that decision and explore all available options.

The British Virgin Islands has been re-elected as Vice Chair of the Economic Commission for Latin America and the Caribbean’s (ECLAC) Caribbean Development Cooperation Committee (CDCC), which serves as permanent subsidiary body of the United Nations (UN) for the Caribbean.

Good afternoon,

Last week the UK Parliament passed an amendment to the Sanctions and Anti-Money Laundering Bill, which introduces measures to tackle criminal activities, including money laundering across international finance. The amendment includes a requirement for the Overseas Territories to implement public registers of beneficial ownership by the end of 2020. 

I learnt today that the United Kingdom Parliament accepted the amendments for an Order in Council to impose public registers of beneficial ownership on the BVI and other Overseas Territories to take effect in 2020.

Good Afternoon Ladies and Gentlemen:

On Thursday in the House of Assembly, I made a statement about the legislative progress of a United Kingdom Parliamentary Bill, the Sanctions and Anti-Money Laundering Bill and its impact on the BVI.  The Report Stage and final stages of this bill are scheduled to be debated in the House of Commons tomorrow, Tuesday.

New BVI probate rules are of critical importance to owners of BVI Companies, the majority of whom reside in Asia, experts from the international law firm Ogier told a BVI House Asia seminar.

As you just saw in the video clip, in a span of just six weeks the combined impact of a tropical wave, Hurricane Irma and Hurricane Maria devastated the BVI. I will say a little more about this shortly

Premier and Minister of Finance Dr. the Honourable D. Orlando Smith, OBE is currently in the United Kingdom discussing the Territory’s recovery effort with senior UK government ministers following hurricanes Irma and Maria.