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by pltm
(PLTM) - The BVI will be sending a delegation to next week's Monaco Yacht Show, the world's biggest international yachting exhibition, where their focus will be among other things, selling the importance of direct flights at the Terrance B. Lettsome International Airport, to potential investors and visitors.
Also, the delegation, which will consist of the First Lady Mrs. Lorna Smith, will be seeking direct investment in real estate and commercial enterprises in the Territory.
The show is scheduled to take place from September 28 to October 1, 2016, and the delegation will comprise of persons from BVI Finance, Virgin Islands Shipping Registry (VISR) and the BVI Tourist Board. They will be alongside five high profile private sector partners from the maritime, legal, banking and property sectors.
According to BVI Finance, the persons who will be representing the BVI are Mrs. Smith, O.B.E., Interim Executive Director, BVI Finance; Captain Raman Bala, Director of Shipping at Virgin Islands Shipping Registry; Ms. Ginny Hawksley, Managing Consultant, The British Virgin Islands Tourist Board; and the BVI industry representatives will include Harneys, VP Bank and YCCS.
The MYS will be attended by 34,000 participants from around the world including private yacht owners, future buyers of yachts and decision-makers from leading companies in the yachting and luxury sectors.
"The MYS will provide an opportunity to promote the BVI’s Category One status as well as raise awareness of the Territory not only as a destination of choice for the luxury superyacht, villa rental and excursion sectors, but also of the opportunities for direct investment in BVI real estate and commercial enterprises," BVI Finance stated.
During the event the delegation, which will be located at stand QSE12, will be able to answer questions relating to BVI’s offering of legal and fiduciary services in the contexts of shipping, real estate, banking, succession planning, and investment funds.
"They will also be updating MYS attendees on the latest infrastructure developments in the territory including the upcoming launch of a new direct air link between Miami, Florida and the Terrance B. Lettsome Airport, set to commence later this year," BVI Finance stated.
"The launch is expected to significantly improve accessibility to BVI with a scheduled flight time of 2.5 hours, and further bolster the attractiveness of the Territory as both a tourist destination and leading international finance and ship registration centre."
Meanwhile, BVI Finance noted that since its relaunch in 2006, VISR has grown rapidly, due in part to its membership of the Red Ensign Group of British Shipping Registries ensuring adherence to the latest international maritime laws and conventions and the highest technical, social and administrative standards.
With competitive registration and annual fees and access to a highly qualified registration and technical team, VISR provides a natural extension to BVI’s leading financial services sector, which has over 30 years of experience helping businesses and individuals manage and invest their wealth both domestically and internationally through a legal system based on English common law.
After attaining restricted Category One status within the Red Ensign Group in 2008, VISR was able to register large yachts up to 3000 GT. As of September of 2015, VISR attained unlimited Category One status, and now accommodates yachts and ships of unlimited gross tonnage, providing a market leading proposition to superyacht owners and professional shipping investors across the globe.
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