The BVI Government has announced the conclusion of negotiations with the US on a Model 1 Intergovernmental Agreement (IGA) under FATCA.

The British Virgin Islands and the Cayman Islands have entered into agreements with the UK for automatic disclosure of information in respect of interests in financial accounts held by UK residents.

Trusts established under the British Virgin Islands' special trust regime are referred to as "VISTA Trusts". VISTA Trusts are a form of trust unique...

The BVI Government introduced, with effect from 1 January 2019, a new legislation titled the Economic Substance (Companies and Limited Partnerships) Act 2018, requiring certain legal entities to demonstrate ...

Public bodies must strike a balance when discharging their international obligations in the mutual exchange of information by ensuring that procedural fairness safeguards for BVI persons are observed in the performance of those obligations.

Russian thin capitalisation rules do not permit a tax deduction for excessive interest payments between related parties.

Following the decision of the BVI Commercial Court on BEC Limited v (1) A2 and (2) A1 (BVIHC (COM) 2022/0059), here is useful clarification on the late amendments...

For family offices, high-net-worth individuals (HNWI) and ultra-high-net-worth individuals (UHNWI) considering the purchase of luxury assets (in particular yachts...

In response to the OECD's global Base Erosion and Profit Shifting ("BEPS") initiative and EU Code of Conduct Group substance requirements modelled on BEPS Action 5 ...

Offshore companies, particularly those incorporated in the British Virgin Islands (BVI) or the Cayman Islands, are commonly used as vehicles to purchase and hold UK real estate.

The British Virgin Islands (BVI) government has enacted legislation that will require certain BVI entities carrying on specified activities to have ‘adequate substance' in the BVI.

A Double Tax Treaty between Cyprus and Iran will come into effect on 1 January 2018.

We refer to our alert from June 2019 for guidance on the requirements of the Economic Substance (Companies and Limited Partnerships) Act, 2018 and the definitions of Legal Entity, Relevant Activity and Financial Period.

Companies incorporated in the BVI are, by most measures, the most popular offshore holding structure in the world

The British Virgin Islands ("BVI") is home to over 416,000 active companies. This article considers the benefits of using a BVI company in financing transactions.

BVI companies are governed by the BVI Business Companies Act, 2004 (the Act), which has recently been amended by the BVI Business Companies (Amendment) Act, 2015 (the Amendment Act).

The United States champions itself as a nation policing the rest of the world, preventing money laundering, tax evasion and foreign corrupt practices.

Note in particular that penalties frequently apply for late filings and so the registered office should be informed promptly of any notifiable changes to allow the appropriate filing/s to be made.

Every so often there are historic moments for trust lawyers. One such moment was when Lord Walker handed down the decision of the Privy Council in Schmidt v Rosewood and another was that on which the Cayman Islands’ ‘STAR trusts’ law came into force.

From January 2024, all relevant entities with reporting obligations in relation to the United States ("US") Foreign Account Tax Compliance Act ("FATCA"), Organisation for Economic...