British Virgin Islands: Financial Sector Assessment Program Update Documentation: Technical Note on Corporate and Trust Services Providers
IMF Staff Country Reports, October 25, 2010
Source details
- Canonical URL
- British Virgin Islands: Financial Sector Assessment Program Update Documentation: Technical Note on Corporate and Trust Services Providers
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Bibliographic details
- Published: October 25, 2010
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781455208777.002
Scope and purpose
- Reviews the structure of the Trust and Corporate Service Providers (TCSP) sector in the British Virgin Islands (BVI).
- Focuses on the TCSPs' role in the offshore financial sector.
- Seeks to assess the legislative framework in place and the effectiveness of implementation and enforcement of this framework.
- Discusses structure of the TCSP industry and the key features of the legislative framework.
Key findings
- The Financial Services Commission Act (FSCA) provides a strong framework for the supervision of other financial services in the jurisdiction.
- The global financial crisis has resulted in a significant decline in asset values.
- The study evaluates both the legislative framework and practical implementation/enforcement related to TCSPs.
Thematic coverage and subjects
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Crime
- Financial services
- Legal support in revenue administration
- Revenue administration
Keywords (as provided)
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- business companies in the main
- BVI business company
- BVI government
- companies legislation
- company incorporation
- company registration
- CR
- Global
- ISCR
- Legal support in revenue administration
- management business