A Comparative Analysis Of BVI And Bermuda Law Security Registration Formalities

The British Overseas Territories of Bermuda and the British Virgin Islands (BVI) are widely recognised as two of the world's leading international financial services centres. Each is known as providing creditor-friendly legal systems, aided by pragmatic and commercial security registration regimes. These security registration regimes make these jurisdictions attractive options for lenders and businesses to consider when entering into secured financing transactions. This article examines and compares the registration formalities to be met in the BVI and Bermuda, should a lender wish to take security over the assets of BVI and Bermuda entities.

In this analysis reference is made to security interests granted as being "charge/s". However, this term is applied generically and refers to various forms of security interests granted under mortgages, pledges, legal and equitable charges (fixed and floating), assignments, liens and debentures.