Expat opportunities widen in Virgin Islands

Published:  23 Mar at 6 PM
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Tagged: Australia
As reported by the Telegraph, Ernst & Young has re-instituted its office in the British Virgin Islands, as the company believes the territory will get stronger and stronger in the financial sector this year.

The Financial Stability Board (FSB) reported at the end of 2011 that the BVI demonstrated "sufficiently strong adherence" to supervisory and regulatory standards on global tax cooperation and information exchange. The BVI has also been confirmed by the Organisation of Economic Cooperation and Development (OECD) for reaching "an established standard" for tax information exchange agreements.

Ernst & Young, considered a "Big Four" accountancy company, is seen as a world leader in offshore auditing. The other “Big Four” firms include Deloitte Touche Tohmatsu, PwC and KPMG.

The company has 152,000 staff members in 140 jurisdictions worldwide, with several packages and perks for expatriates. Dan Scott, who is managing partner at Ernst & Young’s Bahamas, Bermuda, Cayman Islands and BVI region, says he found the BVI’s reputation for financial services attractive, especially the strength of the regulations regarding financial services and the regulatory regime.

International offshore law company Ogier has an office in the BVI as well. Working in the BVI is similar to working elsewhere in the world, said partner Simon Schilder. It mainly involves sitting at a computer and discussing with clients from around the world, he explained.

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