The British Virgin Islands (BVI) is a backward jurisdiction
It is sad to see that in the British Virgin Islands (BVI) you cannot search online for a company name… For this privilege you have to fill a form & pay US$30, send it by snail mail or email and wait for the answer back… Where are we?
In this day & age when information is acquired very fast: you will spend less time acquiring knowledge about superconductivity than getting information on a company on the register in the BVI.
The BVI Finance Services Commission (BVIFSC), despite having US$2.8 million in surplus (2014 report), is not even able to put up an online search facility. Such system would barely cost more than US$10K. That is really appalling.
It turns to a joke when you read that the BVIFSC’s mission statement is to:
- protect the interests of the general public and market participants.
- ensure industry compliance with the highest international regulatory standards and best business practices.
BVI = Best Varnished Islands.
Update on 19/MAR/2024: this post was first written on 29/JAN/2017 and as of this day, more than 7 years later, there are still no facilities to conduct an online search of registered companies… Amazing!