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The Government of the Virgin Islands has signed a memorandum of understanding with Hong Kong aimed at strengthening financial services cooperation and helping eligible BVI businesses access funding, workspace and mentoring opportunities in the Asian financial centre.
Announced on November 2, the agreement includes support for BVI technology businesses, micro, small and medium-sized enterprises (MSMEs), and financial services institutions seeking to establish or expand operations in Hong Kong.
According to a government press release, the signing took place during Hong Kong FinTech Week x StartmeupHK 2026, which runs from November 2 to 6.
Agreed between the Ministry of Financial Services, Economic Development and Digital Transformation and Hong Kong’s Financial Services and the Treasury Bureau, the memorandum forms part of the Government’s strategy to diversify international partnerships and strengthen the Territory’s financial services industry.
Junior Minister for Financial Services, Economic Development and Digital Transformation Lorna Smith, who represented the Government, said the agreement could support business expansion while contributing to growth locally.
“I believe that the MoU will strengthen both its resilience and its future competitiveness in a rapidly changing global landscape, ensuring it continues to play a pivotal role in the BVI economy for decades ahead,” Smith said of the financial services industry.
The agreement provides for closer government cooperation on policies and programmes to develop the BVI’s MSME framework. Eligible businesses will also be able to access incubation and entrepreneurship programmes offering funding, workspace and mentoring support.
Other areas of cooperation include green and sustainable finance, with opportunities to explore environmental, social and governance-related investment products, including bonds and funds, as well as insurance-linked securities.
The partnership will also encourage exchanges of knowledge on financial technology, particularly digital assets and tokens, while promoting the continued use of BVI corporate vehicles and investment structures.
Hong Kong’s Under Secretary for Financial Services, Joseph H. L. Chan, said the agreement builds on a longstanding commercial relationship.
“We look forward to welcoming eligible BVI MSMEs who wish to establish a presence in Hong Kong and have designed a range of tailored support measures aimed at facilitating faster market access while also providing wider technical assistance to the BVI across several key economic areas,” Chan said.
Announced on November 2, the agreement includes support for BVI technology businesses, micro, small and medium-sized enterprises (MSMEs), and financial services institutions seeking to establish or expand operations in Hong Kong.
According to a government press release, the signing took place during Hong Kong FinTech Week x StartmeupHK 2026, which runs from November 2 to 6.
Agreed between the Ministry of Financial Services, Economic Development and Digital Transformation and Hong Kong’s Financial Services and the Treasury Bureau, the memorandum forms part of the Government’s strategy to diversify international partnerships and strengthen the Territory’s financial services industry.
Junior Minister for Financial Services, Economic Development and Digital Transformation Lorna Smith, who represented the Government, said the agreement could support business expansion while contributing to growth locally.
“I believe that the MoU will strengthen both its resilience and its future competitiveness in a rapidly changing global landscape, ensuring it continues to play a pivotal role in the BVI economy for decades ahead,” Smith said of the financial services industry.
The agreement provides for closer government cooperation on policies and programmes to develop the BVI’s MSME framework. Eligible businesses will also be able to access incubation and entrepreneurship programmes offering funding, workspace and mentoring support.
Other areas of cooperation include green and sustainable finance, with opportunities to explore environmental, social and governance-related investment products, including bonds and funds, as well as insurance-linked securities.
The partnership will also encourage exchanges of knowledge on financial technology, particularly digital assets and tokens, while promoting the continued use of BVI corporate vehicles and investment structures.
Hong Kong’s Under Secretary for Financial Services, Joseph H. L. Chan, said the agreement builds on a longstanding commercial relationship.
“We look forward to welcoming eligible BVI MSMEs who wish to establish a presence in Hong Kong and have designed a range of tailored support measures aimed at facilitating faster market access while also providing wider technical assistance to the BVI across several key economic areas,” Chan said.
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