Industry Circular No. 14 of 2020 - Minister of Finance declares COVID-19 Exceptional Circumstance

Minister of Finance declares COVID-19 Exceptional Circumstance

Tortola, British Virgin Islands – 15 April 2020.  The Honourable Minister of Finance, Premier Andrew A. Fahie, acting on the advice of the BVI Financial Services Commission (“the Commission”), has officially declared the COVID-19 global pandemic as an exceptional circumstance, that requires special measures to facilitate the conduct of financial services business in and from within the Territory.  This declaration was made by way of the Financial Services (Exceptional Circumstances) Order, 2020 (“the Order”) published in the Virgin Islands Gazette on 14 April 2020.

The Order deemed to have come into force as of 30 March 2020, brings into effect specific provisions of the Financial Services (Exceptional Circumstances) Act, 2020 (the “Act”).  The Order shall remain in force until 30 April 2020. View Financial Services (Exceptional Circumstances) Order, 2020 on our website.