BVI Now Mature Financial Hub As It Celebrates 40 Years In Business.

The BVI is a global center of financial expertise. Photo by
Karl Callwood on UnSplash.

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The British Virgin Islands  is celebrating 40 years since incorporating its first International Business Company in 1984, reinforcing its status as a top international financial hub.

Dr. Natalio Wheatley, Premier and Minister of Financial Services, highlighted the jurisdiction’s strategic growth:

“The BVI’s financial services sector continues to grow from strength to strength. Through technological advancements and a commitment to diversification, we have solidified our presence in key global markets.”

“Strengthening partnerships in Asia, with a focus on green energy, digital assets, and private equity, underscores our resolve to position the BVI as a leader in sustainable and forward-thinking financial services.”

Despite global economic challenges, BVI financial firms excelled in 2024, handling high-value transactions across sectors like digital assets, restructuring, sustainable finance, and insolvencies. The Beyond Globalisation report estimates BVI facilitates $1.4 trillion in cross-border trade and investment.

Financial Leadership and Resilience

Elise Donovan, CEO of BVI Finance, highlighted the industry’s adaptability. BVI firms excelled in restructuring cases. Harneys played a key role in Digicel Group’s $3.8 billion debt restructuring, while Collas Crill and Interpath successfully managed cross-border financial reorganizations.

Innovation in Digital Assets

The BVI maintained its leadership in digital finance, with firms like Carey Olsen, Harneys, and Ogier supporting companies in securing Virtual Asset Service Provider (VASP) approvals. Collas Crill expanded its Digital Assets Group to offer specialized services.

Commitment to Sustainable Finance

BVI firms helped finance green projects, including Walkers’ advisory role in a $1 billion sustainability-linked bond and Harneys’ support for a $140 million investment in sustainable aviation fuel.

Global Reach in Major Transactions

BVI firms facilitated significant deals, such as Conyers advising on Despegar’s $1.7 billion acquisition and O’Neal Webster supporting an $80 million financing deal for a Mexican real estate firm.

Mergers, Acquisitions, and Capital Funding

Key mergers included Ogier’s advisory role in Visa’s $1 billion acquisition of Pismo and Appleby’s support of Shift4’s $575 million purchase of Finaro. BVI firms also helped businesses secure funding, such as Swvl’s $4.7 million private placement.

Insolvencies and Recovery Efforts

Interpath managed Three Arrows Fund’s liquidation and secured the first-ever cross-border recognition of a Decentralized Autonomous Organization (DAO) in insolvency proceedings.

IPO Successes

BVI-backed IPOs thrived, including Biohaven Ltd’s $230 million offering and BBB Foods’ $589 million listing.

Source: BVI GIS.

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