Lending & Secured Finance 2023

1. Overview

1.1 What are the main trends/significant developments in the lending markets in your jurisdiction?

The British Virgin Islands ("BVI") continues to be a jurisdiction of choice for corporate vehicles entering into secured finance transactions. The British Virgin Islands' creditor-friendly and innovative legislation has proven adaptable to the needs of its international clients while remaining fully compliant with international regulations and policies. In particular, the BVI's modern and flexible legislation has enabled business, transactions and entities to be managed effectively during times of increasing global mobility, disruption and change, from digital incorporation and know-your-client ("KYC") regimes to virtual meetings and electronic closings. The recent introduction of rules on economic substance for companies and limited partnerships does not impact third-party lenders and counterparties. Transparency continues to be a focus, and the BVI has