The British Virgin Islands (BVI) is not home to any of the big-name fund administrators such as Citco, State Street, BNY Mellon or GlobeOp. This is attributed in part to the lack of any requirement for BVI funds to have a local administrator.
The large administrators have offshore bases in the Cayman Islands and Bermuda and see no reason to open offices in the BVI.
The absence of an internationally recognised administrator in the BVI means much of the big-ticket business flows out of the jurisdict
The week on Risk.net, October 6-12, 2017Receive this by email