BVI to continue engaging UK MPs amid tax haven claims

Premier Dr Natalio Wheatley has reaffirmed the BVI’s commitment to engaging UK Members of Parliament (MPs) to defend the territory’s financial services sector amid increasing scrutiny.

Addressing recent criticisms from UK lawmakers regarding the BVI’s proposed framework for a public register of company ownership, Dr Wheatley described these allegations as unwarranted. He emphasised the territory’s longstanding adherence to international regulatory standards and active role in combating financial crime.

“We are also committed and reliable partners of the United Kingdom in applying sanctions, combating financial crime, and immediately sharing beneficial ownership information to support investigations,” Dr Wheatley stated.

“We are engaging PR firms to assist us in getting the message out there, to let persons know exactly what we’re doing. We’re also engaging directly with the UK Parliament. We have persons in parliament who are friends of the BVI, and we’ll ask them to help us educate their colleagues about the role that the BVI plays in international finance,” he explained.

He further argued that the BVI has effectively managed its financial services industry for decades, maintaining autonomy while upholding global regulations.