Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
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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.
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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”).
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Different style -
Vanessa King looks at VISTA trusts eight years on
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British Virgin Islands
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BVI Funds - Legal and structuring considerations
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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.
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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.
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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.
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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.
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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.
CRAIGMUIR CHAMBERS, PO BOX 71, ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLANDS