An internationally known accounting and consulting firm has returned to the Virgin Islands after a multi-year absence to rejoin the financial services industry here, a manager with the firm said.
Ernst & Young, whose 152,000 employees operate in 140 jurisdictions globally, recently re-established a six-member office in the territory that could expand to 10 or 11 employees by midsummer, according to Dan Scott, managing partner for the firm’s Bermuda, Bahamas, VI and Cayman Islands region.
Mr. Scottt said the firm was attracted by the territory’s international reputation for financial services, particularly the strength of the financial services legislation, the regulatory regime and the commercial court.
“When I look at the BVI, it ticks all of those boxes very nicely,” he said.
The firm’s clients, he added, typically are seeking a stable and trustworthy place to do business.
See the March 1, 2012 edition for full coverage.