Insights

Trust Companies 

Deloitte in British Virgin Islands - navigating in uncertain times

At Deloitte in British Virgin Islands (BVI), we provide a wide range of trust services that will help you meet todays demands.

In this ever changing market, we continue to see declining incorporation numbers and negative media coverage of offshore jurisdictions. There are also increasing regulatory compliance requirements from Financial Services Commission, Organization for Economic Co-operation and Development (OECD) as well as the British and United States governments.

Our Services

  • Professionals who understand critical issues
  • Ensuring compliance with:
     - Anti-Money Laundering Regulations (“AML”)
     - Anti-Money Laundering and Anti-Terrorist Financing (“ATF”) Code of Practice
  • Navigation through the requirements of the Regulatory Code and Bank and Trust Act

To best navigate through the ever changing global financial services environment we have identified three key areas that can support our Trust Company clients:

  • Risk management
  • Audit, accounting and ancillary services
  • FATCA, UK CDOT and CRS consulting services and reporting facilitation

Appreciating the financial burden of discharging duties in the regulated environment, these areas can be utilised in a cost-effective “menu-approach” suited to the client needs and budget.

 

Risk Management

As risk management experts, we offer a wide variety of services tailored specifically to your unique needs. Services include:

  • AML/ATF compliance reviews
  • Statistical sampling of files to check compliance with company manuals
  • Current state and internal system assessment
  • Regulatory Code compliance reviews
     - Code mapping of company manuals to regulatory code to identify and bridge gaps
     - Current state and internal system assessment
  • Tailored readiness preparation for regulator inspection
  • Information security policy
  • IT vulnerability assessments
  • IT strategy/governance and project management
     

Audit, Accounting & Ancillary Services

We offer a full range of audit, accountancy and ancillary services to BVI entities, including:

  • Audit of financial statements
  • Preparation of financial statements
  • Accounting and bookkeeping
     - Processing of transactions
     - Customised accounting reports
  • Assistance with accounting standards compliance
  • Payroll outsourcing services
     

FATCA, UK CDOT and CRS Consulting Services and Reporting Facilitation

We have a full range of consulting services around the various Automatic Exchange of Information (AEOI) regimes including:

  • Foreign Account Tax Compliance Act (FATCA)
  • United Kingdom Crown Dependencies and Overseas Territories (UK CDOT)
  • Common Reporting Standard (CRS)

Consulting includes implementing the added due diligence requirements, performing entity classification and understanding the reporting requirements under each regime. In addition, we are able to facilitate the reporting to the relevant tax authorities, fulfilling both your technology and technical needs.

Trust Companies in BVI

View or download our Trust Companies factsheet by clicking the image above.

Did you find this useful?

Related topics