The British Virgin Islands continues to maintain its high visibility in the Asia Pacific region following participation in the China Offshore Summit.
The China Offshore Summit held its fifth annual conference in Shenzhen from May 27 to May 28. Over 250 financial intermediaries and practitioners participated in the two-day acitvity, which focused on wealth management and corporate structures.
The China Offshore Summit was launched in 2010, and was designed by China Offshore and local practitioners to provide a premium platform for information exchange, business development and the resources Chinese financial intermediaries severely need.
The Summit was held in Shenzhen for the first time to recognise the city’s fast developing and innovative industries centered on hi-tech and advanced manufacturing, underpinned by the modern services industry.
With the expansion of China’s High Net Worth Individuals (HNWI) group, there has been an increasing demand for international wealth management services. Thus, BVI House Asia specially sponsored the ninth panel discussion during the summit on “Wealth Planning for China’s First Generation HNWIs."
The panel was moderated by BVI-based practitioner and General Manager of Coverdale Trust Services Ltd, Ms. Claire Abrehart, who is also the spokesperson for BVI Finance.
Ms. Abrehart highlighted the Territory’s Virgin Islands Special Trusts (VISTA) and private trust companies (PTCs) and described how these tools can help business owners and High Net Worth Individuals plan their wealth in a convenient and trustworthy way.
Director of BVI House Asia, Ms. Elise Donovan said, “HNWIs are looking for customised services for management of family wealth and business succession and the BVI has developed sophisticated and flexible tools to meet these demands with our various trusts.”
The delegation was led by BVI House Asia, and was comprised of seven members, including Asia representative of BVI Financial Service Commission (HK) Limited, Ms. Michelle Georges. They were also accompanied by practitioner representatives including Ms. Abrehart; Group Legal Counsel of AMS Financial Group, Mr. Barry Mitchell; and Business Development Manager of AMS Financial Group, Sophie Tse. The BVI has previously sponsored the China Offshore Summits held in Beijing and Shanghai.
Chief Operating Officer of BVI House Asia, Ms. Heather Tang said, “It was good to participate in the China Offshore Summit again; we were thrilled to receive numerous affirmations from the market about the creditability of BVI financial structures. The exchanges and dialogues with the practitioners in China are very valuable in helping us to connect with Chinese clients.”
During the two day summit, the BVI held an independent booth manned by the delegation, who engaged with over 100 visitors regarding the services provided. It also created a direct platform for investors to know more about the BVI and receive development updates from the team.