{
  "title": "British Virgin Islands: Financial Sector Assessment Program Update Documentation: Technical Note on Corporate and Trust Services Providers",
  "publication": "IMF Staff Country Reports, October 25, 2010",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/british-virgin-islands-financial-sector-assessment-program-update-documentation-technical-24300",
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  "summary": "This study reviews the structure of the Trust and Corporate Service Providers (TCSP) sector in the British Virgin Islands (BVI), focusing on their role in the offshore financial sector, and seeks to assess the legislative framework in place as well as effectiveness of implementation and enforcement",
  "sections": [
    {
      "heading": "Scope and purpose",
      "content": "- Reviews the structure of the Trust and Corporate Service Providers (TCSP) sector in the British Virgin Islands (BVI).\n- Focuses on the TCSPs' role in the offshore financial sector.\n- Seeks to assess the legislative framework in place and the effectiveness of implementation and enforcement of this framework.\n- Discusses structure of the TCSP industry and the key features of the legislative framework."
    },
    {
      "heading": "Key findings",
      "content": "- The Financial Services Commission Act (FSCA) provides a strong framework for the supervision of other financial services in the jurisdiction.\n- The global financial crisis has resulted in a significant decline in asset values.\n- The study evaluates both the legislative framework and practical implementation/enforcement related to TCSPs."
    },
    {
      "heading": "Thematic coverage and subjects",
      "content": "- Anti-money laundering and combating the financing of terrorism (AML/CFT)\n- Crime\n- Financial services\n- Legal support in revenue administration\n- Revenue administration"
    },
    {
      "heading": "Keywords (as provided)",
      "content": "- Anti-money laundering and combating the financing of terrorism (AML/CFT)\n- business companies in the main\n- BVI business company\n- BVI government\n- companies legislation\n- company incorporation\n- company registration\n- CR\n- Global\n- ISCR\n- Legal support in revenue administration\n- management business\n\n---\n\n Content in this bundle\n\n- Cr10326\n  - Cr10326 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Cr10326 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: October 25, 2010",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781455208777.002",
    "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.",
    "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.",
    "business companies in the main",
    "BVI business company",
    "BVI government",
    "companies legislation",
    "company incorporation",
    "company registration",
    "CR",
    "Global",
    "ISCR",
    "management business",
    "**Cr10326**"
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