BVI Engages European Financial Partners, Reaffirms Transparency
A BVI delegation led by Junior Minister Lorna G. Smith held high-level meetings in Brussels and Paris from 6–8 October 2025 to strengthen ties with the EU and the OECD and to update partners on reforms to meet international financial standards. New reporting also highlights that the Brussels–Paris visit follows wider outreach this year to Asia, Latin America and Africa and comes amid criticism from UK lawmakers and advocacy groups that the Territory has rejected, according to BVI News.
A delegation from the Government of the Virgin Islands completed a series of high-level meetings in Brussels and Paris from 6 to 8 October 2025 as part of ongoing efforts to strengthen engagement with the European Union, its Member States, and international partners, the Government said in a press release published on 13 October 2025.
The team was led by Junior Minister for Financial Services, Economic Development and Digital Transformation, Hon. The Government press release and local reporting by Virgin Islands News Online (VINO) named Ms. Glasgow, Director of Financial Services in the Ministry, and Mr. Malone, Deputy Managing Director – Regulation at the British Virgin Islands Financial Services Commission (FSC), as members of the delegation.
BVI News described the delegation slightly differently, listing Ayana Glasgow as Deputy Managing Director (Regulation) at the FSC; both accounts confirm her prominent role in the visit. In Brussels, delegates held constructive discussions with senior European Commission officials, including John Berrigan, Director‑General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA); Ugo Bassi, Director for Banking, Insurance and Financial Crime; and Benjamin Angel, Director for Direct Taxation, Tax Coordination, Economic Analysis and Evaluation (DG TAXUD), the Government said.
Meetings with representatives from several EU Member States also took place to reaffirm partnerships and explore areas for mutually agreed cooperation. Discussions in Brussels focused on the Virgin Islands’ commitment to upholding international financial regulation standards, improving transparency and strengthening anti‑money laundering and counter‑terrorist financing (AML/CFT) frameworks.
The delegation provided updates on recent legislative and regulatory reforms designed to strengthen the Territory’s compliance with evolving Organisation for Economic Co‑operation and Development (OECD) and European Union requirements, according to the Government release and VINO.
The ministerial team continued its mission in Paris, where representatives met with the OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes. Those meetings highlighted progress in enhancing frameworks for tax transparency, including measures to strengthen the exchange of information, and reaffirmed the Territory’s commitment to ongoing cooperation with the Global Forum and other international partners, the Government said and VINO reported.
Smith described the visit as, "an excellent opportunity to reaffirm and further strengthen the close relationship that has long existed between the Virgin Islands and our European partners," a quote included in the Government press release and echoed in VINO and BVI News coverage.
She said the discussions showed a united commitment to transparency, accountability and the fight against illicit finance and financial crime and that the Government looks forward to continuing the dialogue to ensure the financial services industry remains a force for good in the global economy.
BVI News noted the Brussels and Paris visit follows similar international outreach this year — in Asia, Latin America and Africa — as the Territory continues efforts to protect its reputation as a responsible and cooperative financial centre. That coverage also acknowledged pressure from UK lawmakers and advocacy groups that have labelled the BVI a tax haven, a claim local officials have repeatedly rejected, insisting the Territory’s framework meets or exceeds international regulatory standards.
The Government framed the trip as part of a sustained international engagement strategy to safeguard the Territory’s reputation, preserve market access and investor confidence, and support jobs and public revenue. For international enquiries, the Government asked stakeholders and media to contact BVIGovernment@dgagroup.com or call (284) 468‑3701; WhatsApp was listed at 1 (284) 468‑9760 and a virtual booking system for Government services was provided, according to the press release.
Primary source: BVI Government