Asia Trade Mission 2024 BVI: Advancing Cross-Border Trade and Innovation
Recognised as an internationally respected financial centre, the BVI plays a pivotal role in connecting markets, facilitating inbound and outbound investment, trade, and capital flows. With a rich history of cultivating strong relationships with Asian businesses since the 1980s, the BVI stands uniquely poised to navigate through these disruptions and continue driving economic prosperity across the region.
The BVI’s financial services sector relies heavily on Asia, with 57 per cent of its business coming from the region, including 44 per cent from China’s Mainland, Hong Kong and Macau. The recent political tensions between China and Western countries make this mission particularly important for maintaining the BVI’s position as a trusted partner in the Asian market.
Experience firsthand the convergence of visionary leadership and industry expertise as leaders from the highest echelons of the BVI Government, BVI Finance, BVI Hong Kong Office, and esteemed practitioners and experts from Asia engage in candid, high-level conversations. Together, we will explore the critical issues and innovative strategies shaping the future of financial services both in the BVI and across the Asian market.
SPONSOR PROFILES
PLATINUM SPONSORS
ATU BVI
ATU BVI provides bespoke wealth structuring and fund administration services to a discerning group of clients. ATU BVI is a one-stop shop with over 60 qualified staff in the British Virgin Islands, providing directorship, trusteeship, fund administration and accounting services and assisting clients in achieving substance in the BVI, tailored to their needs.
PORTCULLIS GROUP
ICS CORPORATE SERVICES
At Portcullis, we understand the importance of continuity and legacy planning. We are a true family office, with generational involvement in the business. We fully understand the needs and difficulties that families face, and it is our vision to work with other families to create enduring legacies. Portcullis is a family-owned independent Trust Company. We have offices located in Singapore, Hong Kong, Labuan, Kuala Lumpur, the BVI, Samoa and the Cook Islands and maintain licences in the Cayman Islands and Seychelles. With 40 years of experience, Portcullis has honed the art of delivering turn-key solutions for establishing family offices and has evolved into one of the largest Asian independent trust, fund and family office service providers. We have over 31 different licenses around the world and leverage on this network to provide seamless integration that ensures your family office setup aligns with your existing relationships and preferences. Portcullis manages over 18 Billion AUA, with over 19,702 clients from 59 different countries. At Portcullis, we believe in crafting solutions that fit your unique needs. Whether you choose to leverage our in-house expertise, work with our external of providers or collaborate with your trusted network, the power is in your hands. Our commitment is to work hand-in-hand with your family’s trusted advisers.
ICS Group was established in 2011 and is the first independent corporate service provider in mainland China with the BVI Class III Trust License, the Cayman Corporate Service License, and the Hong Kong Trust and Corporate Service Provider (TCSP) License, etc. ICS is rooted in mainland China. With more than one hundred professionals with backgrounds in legal, financial, and management, ICS provides one-stop solutions for Fund Establishment, Overseas Investment, Circular 37 Registration, ODI Registration, and Formation of VIE Structures for the Chinese market. ICS is headquartered in Shanghai, with offices in the British Virgin Islands, Cayman Islands, Hong Kong, Beijing, Shenzhen, and Haikou.
OGIER
Ogier is a professional services firm with the knowledge and expertise to handle the most demanding and complex transactions and provide expert, efficient and cost-effective services to all our clients. We have three divisions: Legal: Practical advice on BVI, Cayman, Guernsey, Irish, Jersey and Luxembourg law. Corporate and Fiduciary: Corporate administration services with a strong reputation in governance and regulatory compliance. Consulting: Independent guidance on sustainable investing, regulatory compliance and tech.
APPLIED ENTERPRISES LIMITED
Applied Enterprise is the major shareholder of the Beef Island project. Established in 1975 and headquartered in Hong Kong, Applied Enterprises Limited (“AEL”) has successfully transformed itself from an electronics OEM manufacturer for multi-national companies into a luxury resort developer in the tropics and properties investment company.
MAPLES GROUP
The Maples Group, through its leading international law firm, Maples and Calder, advises global financial, institutional, business, and private clients on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg. Our global network of over 3,000 lawyers and industry professionals are strategically located in the Americas, Europe, Asia and the Middle East with specific strengths in areas of corporate commercial, finance, investment funds, litigation and trusts. With nearly 30 years on-the-ground experience in Asia, the Maples Group remains committed to providing clients with comprehensive legal, fiduciary, fund, regulatory and compliance, entity formation and management services.
TMF GROUP
TMF Group is a single global team with over 10,000 colleagues in 125 offices across 86 jurisdictions, covering 92% of world GDP and 95% of FDI inflow. We bring common culture and ways of working, investing heavily in our people and platform to provide a high level of quality and security to our clients. We exist to give clients a global solution to what otherwise requires many local providers, each with their individual operational complexity and risk. Our clients include the majority of the Fortune Global 500, FTSE 100 and top 300 private equity firms. We see ourselves as a partner to them, keeping them on top of complex rules and regulations in the countries where they are active.
CHESTNUT/ NORTHLARK
We offer Bespoke Compliance Consultancy | Corporate Governance | Risk Management | Legal & Compliance Advisory Services. Whether you require a simple name check or file review, to an extensive independent internal compliance audit function, or Legal/Compliance Advisory services/Opinions we are your best choice.
WALKERS
Walkers is a leading international law firm. We provide legal, corporate, compliance and fiduciary services to global corporations, financial institutions, capital markets participants and investment fund managers. Our clients are the most innovative firms and institutions across the financial markets, and rely on us for our ability to provide solutions to their most important legal and business issues. We develop globally-minded, entrepreneurial lawyers who are experts in their field and committed to client service. Walkers is consistently ranked in the top tier of the leading global legal directories. Recognized for being a ‘dynamic team that is very user friendly’, a regular comment by clients is that Walkers is the “go-to” firm for offshore legal advice.
BRONZE SPONSOR
VISTRA
Here at Vistra, our purpose is progress. As a close ally to our clients, our role is to remove the friction that comes from the complexity of global business. We partner with companies and private capital managers along the corporate and private capital lifecycle. From HR to tax and from legal entity management to regulatory compliance, we quietly fix the operational and administrative frustrations that hamper business growth. With over 9,000 experts in more than 50 markets, we can accelerate progress, improve processes, and reduce risk, wherever your ambition takes you.
ASSOCIATE SPONSOR
BANK OF ASIA
Bank of Asia is licensed and regulated by the authorities of the British Virgin Islands (BVI). It uses advanced digital channels to provide a wide range of cross-border financial services to its global clients, especially companies and individuals associated with offshore jurisdictions, addressing the growing financial needs of international companies, their owners, and multinational conglomerates. Despite the severe impact of the pandemic in the past three years, Bank of Asia has by now onboarded customers from 90 jurisdictions and with fintech is servicing their transactional banking, asset, and funds management needs in a cost-effective and user-friendly manner. Headquartered in the British Virgin Islands, Bank of Asia was awarded the first banking license in more than two decades by the BVI Financial Services Commission (FSC) in March 2017.
30th May 2024
Road Show Singapore
Mandarin Oriental Singapore
AGENDA
Registration
Welcoming Remarks
Keynote Speech - BVI: Jurisdiction of Choice
Speaker: Deputy Premier and Minister for Financial Services, Labour and Trade, Hon. Lorna Smith, OBE
Description: Deputy Premier Smith will explore recent advancements in the BVI, shedding light on how the jurisdiction takes a proactive stance in assisting millions of Asians in achieving their financial objectives. Moreover, the Deputy Premier will explain the pivotal role played by the BVI in facilitating foreign direct investment in China and the Asia Pacific region, and on a global scale. Additionally, Deputy Premier Smith will tackle recent international developments and elaborate on the strategies adopted by the BVI to address these developments.
Panel - Going for Global Growth Why Choose the BVI?
Moderator: Elise Donovan, CEO, BVI Finance
Panellists:
David Chong, Founder and President, Portcullis Group
Shagun Kumar, Regional Head of APAC (Asia Pacific), TMF Group
Description: For four decades, BVI Business Companies have proven instrumental for Chinese and Asian business leaders, state-owned enterprises, and individuals. What factors have led Chinese business leaders to consistently select the BVI as their preferred jurisdiction? What distinctive advantages does this jurisdiction provide to the Chinese market, and to what extent are these capabilities fully understood by stakeholders? A panel of experts will delve into recent BVI developments in the context of prevailing trends in Asia.
Panel – Charting a Course through the International Landscape
Moderator: Ms. Ayana Glasgow, Director of International Business (Regulations), Ministry of Financial Services, Labour and Trade Panellists:
Kenneth Baker, CEO and Managing Director, BVI Financial Services Commission
Tiger Zhang, Director, ICS Corporate Services
Deon Vanterpool, VP, Bank of Asia
Description: The global regulatory landscape of transparency and taxation, propelled by entities such as the OECD, the EU, FATF, NGOs, and EU parliamentarians, is dynamic and complex. In light of these diverse regimes fuelling the anti-offshore agenda, what strategies does the BVI employ to align with and meet the requirements set forth? How does the BVI navigate the delicate balance between compliance obligations and sustaining competitiveness within the market? Furthermore, will the BVI uphold the “privacy and confidentiality of its structures,” a principle highly esteemed in Asian jurisdictions?
30th May 2024
Road Show Singapore
Mandarin Oriental Singapore
AGENDA
Key topics of discussion will include an overview of BVI’s legal framework for international businesses and financial services, insights into the latest regulatory updates and compliance requirements, and practical advice for navigating the complexities of doing business in a jurisdiction renowned for its offshore financial services. The panel will also delve into the global impact of BVI regulations, discussing how international standards and cross-border cooperation affect local practices and vice versa.
Panel - BVI Trading Opportunities in Asia
Moderator: Elise Donovan, CEO, BVI Finance
Panellists:
David Chong, Founder and President, Portcullis Group
Tiger Zhang, Director, ICS Corporate Services
Description: The BVI remains at the forefront of international corporate structuring for cross-border transactions and investing worldwide. The BVI’s attributes, such as a familiar legal system based on English common law, internationally compliant regulations and tax neutrality, make it an especially attractive jurisdiction for pooling capital globally and investing it in markets where legal barriers or political risks would otherwise deter investment.
Presentation – NorthLark Galactic - Optimize Entity Management
Speaker: Vinoth Kandasamy, Head of Operations, Northlark
Description: Delve into the strategies and best practices for optimising entity management within the dynamic landscape of NorthLark Galactic. Discover how to streamline operations, enhance efficiency, and drive growth through effective entity management practices.
Coffee Break
Presentation – Legacy and Wealth, the Power of Family Offices- The BVI Perspective
Speaker: David Chong, Founder and President, Portcullis Group
Description: Explore the dynamic intersection of legacy, wealth, and the formidable influence of family offices through the lens of the BVI. Join us as we delve into the strategies, opportunities, and unique insights that shape the BVI’s perspective on the enduring power of family offices in preserving and propelling intergenerational wealth.
Presentation – Why Asia’s Wealthy Value the BVI: VISTA Trusts, Private Trust Companies
Speaker: Richard Grasby, Partner, Appleby
30th May 2024
Road Show Singapore
Mandarin Oriental Singapore
AGENDA
Description: Asia’s burgeoning middle class is focused on acquiring wealth to buy real estate, have their children admitted to the best universities, and provide their families with high quality healthcare. BVI focused practitioners advise them on strategies and provide vehicles such as Vista Trusts, Private Trust Companies, and Family Office services to help them meet their goals. Let’s discuss these and other BVI Services in the context of contemporary Chinese and Asian family issues and financial objectives.
Panel - Dispute Resolution, Arbitration, Shareholder Disputes, Litigation
Moderator: Ms. Ayana Glasgow, Director of International Business (Regulations), Ministry of Financial Services, Labour and Trade Panellists:
Shan Greer, CEO, BVI International Arbitration Centre
Cherrin Wong, Counsel, Maples Group
Adam Hinks, Partner, Insolvency and Dispute Resolution, Walkers
Description: Join our panel as they explore dispute resolution, arbitration, shareholder disputes, and litigation within the unique legal framework of the BVI. Learn about the pivotal role of the BVI’s Commercial Court and the BVI International Arbitration Centre in handling complex international disputes, enhancing the jurisdiction’s profile in the financial services industry. Gain insights into the appeals process, from the High Court to the Eastern Caribbean Court of Appeal and the Privy Council in London. From alternative dispute resolution methods to navigating complex shareholder disputes and litigation strategies, our panellists will provide practical guidance and real-world examples to help you navigate these challenges with confidence. This session will equip you with the knowledge and strategies needed to mitigate risks and achieve favourable outcomes in contentious situations.
Presentation – Navigating AML Requirements: Ensuring Compliance for BVI Managers
Speaker: Tiger Zhang, Director, ICS Corporate Services
Description: Navigate the intricate landscape of Anti-Money Laundering (AML) requirements with confidence in our comprehensive session tailored for BVI managers. Delve into the essential components of AML compliance, from regulatory frameworks to practical strategies for implementation. Gain valuable insights into best practices, risk mitigation techniques, and the latest developments in AML regulations. Mr. Zhang will provide the tools necessary to ensure compliance and safeguard your operations in today’s dynamic financial environment.
Presentation - BVI Vehicles in Transactions, Virtual Assets Business and Other Structures Used in Asia
Speaker: Daniel Moore, Associate, Maples Group
Description: Dive into the intricate world of financial transactions, virtual assets business, and diverse structures utilized in Asia, with a focus on the role of BVI vehicles. Join us as we unravel the complexities, strategies, and practical applications of these structures within the Asian landscape, offering invaluable insights into their usage and impact on regional markets.
www.bvifinance.vg
30th May 2024
Road Show Singapore
Mandarin Oriental Singapore
AGENDA
A Conversation on Digital Assets
Moderator: Elise Donovan, CEO, BVI Finance
Speakers:
Keith B. Carter, Parter, KBC Global Partner
Kenneth Baker, CEO and Managing Director, BVI Financial Services Commission
Description: Explore the world of digital assets with experts, as we discuss the latest trends and challenges. Gain insights into the BVI’s Virtual Assets Legislation and its impact on the digital economy. Uncover valuable strategies for navigating this dynamic landscape.
Presentation – Competitive Advantages of BVI Fund Structures
Speaker: Jerome Rubin-Delanchy, CEO of ATU Advisory Services AG
Description: Discover the unparalleled competitive advantages offered by BVI fund structures in today’s global financial landscape. Delve into the unique features, regulatory frameworks, and strategic benefits that position BVI funds as a preferred choice for investors and fund managers alike. Gain insights into how these structures drive efficiency, flexibility, and success in fund management, unlocking new opportunities for growth and innovation.
Presentation – Unveiling the Beef Island Development: Pioneering Sustainable Growth
Speaker: Betsy Chen, Executive VP, Applied Enterprises
Description: Discover the real estate opportunities in the Beef Island Project nestled in the BVI.
Presentation – BVI: The Future
Speaker: Leon Mao, Head of Advisory North Asia, Vistra
Description: Delve into the future of the BVI business. Building upon exploration of recent advancements, the presentation will illuminate the trajectory ahead for the jurisdiction. Discover how the BVI continues to proactively support millions of Asians and Chinese individuals in realising their financial goals. Gain insights into the evolving role of the BVI as a key facilitator of foreign direct investment. Explore the possibilities and opportunities that lie ahead as the BVI charts its course towards a dynamic and prosperous future.
Q&A
Brief Closing Remarks – Siobhan Flax, Deputy Director, BVI Hong Kong Office
Reception
