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O'Neal Webster - Barristers & Solicitors

SIMMONDS BUILDINGS, 30 DE CASTRO STREET, P.O. BOX 961, RED TOWN, TORTOLA, BRITISH VIRGIN ISLANDS

Tel:: Work +1 284 494 5808
Fax:: Fax +1 284 494 5811

Web:: www.onealwebster.com
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The Securities and Investment Business Act, 2010 of the British Virgin Islands

January 2011

The Securities and Investment Business Act, 2010 of the British Virgin Islands (A Checklist for Private and Professional Funds)

The Securities and Investment Business Act, 2010 (“SIBA”) and the accompanying Mutual Funds Regulations, 2010 came into effect on May 17, 2010 and have replaced the Mutual Funds Act, 1996. Notwithstanding this, SIBA has not changed the British Virgin Islands (“BVI”) investment funds landscape significantly but rather has codified many of the existing practices. Below is a brief checklist of some of the key obligations under SIBA for private and professional funds.

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O'Neal Webster - Barristers & Solicitors

Through The Open Window - Leveraging Cross-Jurisdictional Opportunities For BVI Property Transfers

Arare congruence of exemptions under the US and BVI tax codes has prompted United States (“U.S.”) citizens holding British Virgin Island (“BVI”) property to undertake inter vivos transfers to their heirs during 2012.

- O'Neal Webster - Barristers & Solicitors

Legal Developments in British Virgin Islands

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

Through The Open Window - Leveraging Cross-Jurisdictional Opportunities For BVI Property Transfers

Arare congruence of exemptions under the US and BVI tax codes has prompted United States (“U.S.”) citizens holding British Virgin Island (“BVI”) property to undertake inter vivos transfers to their heirs during 2012.

- O'Neal Webster - Barristers & Solicitors
BVI Funds Update: Exemption from Requirement to appoint Custodian and Manager

On 15 March 2012 the British Virgin Islands Financial Services Commission (the “Commission”) published guidelines for practitioners requesting exemptions for funds from the requirement to appoint a manager, custodian or both (the “Guidelines”).

- Bedell Cristin
VISTA trusts

Different style - Vanessa King looks at VISTA trusts eight years on

- O'Neal Webster - Barristers & Solicitors
FINANCE 2012

British Virgin Islands

- O'Neal Webster - Barristers & Solicitors
Investment funds in the BVI

BVI Funds - Legal and structuring considerations

- Ogier
A Brief guide to... British Virgin Islands

So far as tourism is concerned, the British Virgin Islands (the BVI) is described as "Nature's Little Secrets"; in the financial services industry this could not be further from the truth.

- Bedell Cristin
Eastern Caribbean Court of Appral considers enforcement issues in Alfa v Cukurova

On 20 July 2011 the Eastern Caribbean Court of Appeal (“ECCA”) handed down the latest decision in the long running case of Alfa Telecom Turkey Limited v Cukurova Finance International Limited and Cukurova Holdings AS.

- Harney Westwood & Riegels
Changes to the EU Savings Tax Regime in the British Virgin Islands

The British Virgin Islands’ Mutual Legal Assistance (Tax Matters) Act, 2003 as amended in 2005 (the “Act”) has given effect in the BVI to EC Directive 2003/48 on the taxation of savings income in the form of interest payments (the “Directive”) for the last six tax years.

- Harney Westwood & Riegels
CONTINUATION OF A FOREIGN COMPANY INTO THE BVI

Companies often consider “what if” they could transfer to another jurisdiction based on what is currently happening in their current jurisdiction or simply to take advantage of developments within another jurisdiction.

- O'Neal Webster - Barristers & Solicitors
DIRECTORS DUTIES – A BVI PERSPECTIVE

Directors of British Virgin Islands (“BVI”) companies have certain fiduciary duties which arise both at common law and under statute. These fiduciary duties ultimately seek to protect companies and their shareholders whose destiny lie primarily in the hands of the directors in charge.the hands of the directors in charge.

- O'Neal Webster - Barristers & Solicitors