Market Intelligence

A BVI shareholder sought permission to bring derivative proceedings in England and Wales against directors and creditors of a BVI company, alleging breaches of fiduciary duties and mismanagement of a UK property development project. The Court of Appeal examined whether an offer of indemnity could cure defects in the application and whether shadow directors fall within the scope of BVI Business Companies Act provisions.

British Virgin Islands (BVI) companies may need to restructure for a variety of reasons. In some cases, a company may be facing financial distress or potential insolvency and require a compromise with creditors to reduce, defer or reorganise its liabilities.

The British Virgin Islands is advancing its position in the digital assets space through the implementation of CRS 2.0 and progress towards CARF, while single-asset, closed-ended vehicles are gaining traction for tokenised funds and blockchain projects. These regulatory developments and structural innovations are reshaping how crypto assets and real world asset tokenisation projects can be efficiently structured in this jurisdiction.

Arbitration is frequently the forum for cross-border dispute resolution involving British Virgin Island (BVI) companies, meaning urgent interim relief from the BVI courts in support of arbitration is sometimes required.

Guidance for registration, annual renewal and ongoing maintenance of director information in the British Virgin Islands.

Entities in the British Virgin Islands may qualify for exemptions from Annual Return requirements based on specific criteria. BVI Business Companies and Limited Partnerships can avoid filing obligations if they meet conditions such as being listed on recognized exchanges, regulated by the FSC, or filing tax returns with financial statements.