Financial Services Initiatives
The Financial Services Report identified 40 potential financial service initiatives to deliver on the aspirations set by the BVI Government. The ideas ranged from the basic and fundamental such as bringing the BVI in line with United States (US) and United Kingdom (UK) foreign Account Tax Compliance Act (FATCA) requirements to the enterprising and audacious such as offering Bitcoin indexed funds and Exchange Traded Funds (EFTs). From this list, 10 priority initiatives were selected based on the potential impact on the financial services sector (e.g., the now established Delivery Unit), and relative implementation (e.g., pursuing tax initiatives). These priority financial service initiatives form the foundation of the financial services transformation for our jurisdiction and will set the territory on a new course for the future.