British Virgin Islands
Two IFAs jailed for £2m investment fraud
They were also co-directors of an offshore fund based in the British Virgin Islands
Firms struggle to meet economic substance rules
With clients urged not to go ‘jurisdiction shopping’ to find the most attractive regime
BVI rules investment funds outside economic substance rules
Jurisdiction said they are not a relevant activity to be part of rules
Bank of Asia targets high net worths from the Caribbean
The British Virgin Islands is now home to the Bank of Asia, a fully digital, cross-border bank looking to address the growing needs of offshore companies, individuals and high net worth individuals.
Panama Papers law firm unable to identify 75% of its clients
A leak of 1.2 million new documents shows that Mossack Fonseca, the law firm at the centre of the Panama Papers scandal, could not identify the owners of up to three quarters of the companies it administered.