A Comparative Analysis Of Security Registration Requirements In Offshore Jurisdictions

This article compares the laws of five offshore jurisdictions – Bermuda, Cayman Islands, Jersey, Mauritius and the British Virgin Islands (BVI) – concerning the registration of charges created over assets of companies (not including charges over land within the offshore territories, ships or aircraft). We review the impact, if any, of registration on the determination of the order of priority of competing charges.

Duty to Register

In Cayman, Mauritius and the BVI, companies have a duty to register charges over their assets. Registration may be effected by private registration at the registered office of a company or by public registration at the relevant companies registry.

In Jersey, there is no requirement for the registration of charges over the assets of Jersey companies (with the exception of local land), whether privately or publicly. In Bermuda, the public registration of a charge to establish priority over the charged security is provided for under the