In late September 2020, Premier and Minister of Finance of the British Virgin Islands (BVI) Andrew A. Fahie announced plans to establish a “publicly accessible register of beneficial ownership for companies.” From a press release:
Honourable Fahie noted that the BVI is honoured to be a premier global finance centre and continues to dutifully embrace the responsibility that comes with this reputation, which is to adhere to international standards in combatting money laundering and countering the financing of terrorism and to avoid the misuse of its companies, products and offerings for the furtherance of illicit or nefarious deeds. However, he cautioned that there is legitimate ground for concern that, without appropriate checks and balances, publicly accessible registers could be abused by persons with ill intent, such as kidnappers.
The Premier said while it is a noble objective to seek the prosecution of terrorists, tax evaders and money launderers, the net that ……
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