Hon Smith wraps up Latin America trade
A Virgin Islands delegation led by Junior Minister for Financial Services Hon Lorna G. Smith, OBE completed a week-long financial services roadshow across Latin America from October 27 to 31, visiting São Paulo, Montevideo and Buenos Aires to promote the Territory’s financial services sector. The mission drew strong turnout, featured events organised by BVI Finance in Brazil and Uruguay, included meetings with STEP Buenos Aires and Untitled SLC in Argentina, and reinforced the Territory’s emphasis on compliance, transparency and follow-up on new business opportunities.
A high-level Virgin Islands delegation led by the Junior Minister for Financial Services, Economic Development and Digital Transformation, Hon Lorna G. Smith, OBE, concluded a week-long trade mission across Latin America on October 31, 2025. The team included Elise Donovan, Chief Executive Officer of BVI Finance, and Kenneth B.
Baker, Managing Director & CEO of the BVI Financial Services Commission, and visited São Paulo, Montevideo and Buenos Aires to engage clients, business leaders and financial professionals. The tour kicked off in São Paulo on October 27 with a reception hosted at the Grand Hyatt, where delegates discussed recent government reforms that organisers said have improved legal certainty and regulatory oversight (BVI News).
In Brazil the programme also included the Brazil Focus presentation led by Bruno Peixoto of BP Tax Global Advisory, which examined recent tax changes, cross-border planning and the continued role of the BVI in asset protection and succession planning (Virgin Islands News Online). BVI Finance organised events in Brazil and Uruguay, and the Montevideo leg saw meetings with family offices and asset managers.
Officials used those sessions to highlight the Territory’s reputation for secure, responsible financial services backed by strong legal and institutional frameworks, according to BVI News. The local delegation then travelled to Buenos Aires for further meetings with professional bodies and advisers.
In Argentina the minister met representatives from STEP Buenos Aires and Untitled Strategic Legal Consulting (Untitled SLC) to discuss beneficial ownership, BVI corporate structures and emerging virtual asset legislation, and the Buenos Aires programme included networking events hosted by STEP and industry expert Martin Litwak (BVI News).
These discussions reinforced the BVI’s message of partnership, compliance and practical support for cross-border investment. Speaking to Virgin Islands News Online on October 29, Hon Smith said the roadshow "is going extremely well" and noted strong turnout at events; VINO reported that roughly one-fifth of all beneficial owners registered in the BVI already come from the region.
In a follow-up report, BVI News quoted Smith saying Latin America accounts for roughly 25 percent of the Territory’s beneficial ownership register, underscoring the region’s strategic importance. Kenneth Baker told BVI News stakeholders showed "great interest in our legitimate interest access policies and public register issues," stressing that maintaining international compliance is key to the jurisdiction’s credibility.
Delegation officials described the mission as both promotional and practical: showcasing the Virgin Islands as a trusted, innovative international financial centre while converting interest into concrete business relationships. Locally, continued demand from Latin American clients supports incorporation services, fiduciary and legal professions, and related jobs in the Territory.
The delegation said it will follow up on the new business opportunities and contacts generated during the tour as it continues efforts to preserve and grow the BVI’s financial services sector amid shifting global tax and regulatory environments.
Primary source: VINO