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New legislation is currently being considered by the BVI Government which is expected to require in-scope entities that carry on particular activities to have economic substance within the BVI.

The government of the British Virgin Islands has issued a press release advising all BVI reporting Financial Institutions that it will be adopting a relaxed approach to the 1 June deadline for enrolling...

The ITA has also updated the BVIFARS User Guide in relation to CRS submissions and a copy of the updated User Guide...

On 30 January 2025, the BVI Financial Services Commission (FSC) and the Financial Investigation Agency (FIA) announced that they are conducting a survey to assess the impact of their guidance documents.

Cayman and BVI financial services regulators have announced Memoranda of Understanding with 25 European countries which will enable the continued marketing of Cayman Islands and BVI funds throughout the majority of European Union.

Are you considering establishing a private investment fund in the British Virgin Islands ("BVI")? Remember these key points...

This Carey Olsen bitesize guide is designed to provide a snapshot of the steps that should be taken in the British Virgin Islands and Cayman in connection with the appointment of a fixed charge receiver or Law of Property Act 1925.

On 31 January 2024, a Memorandum of Understanding (MoU) between the BVI Financial Services Commission (FSC) and the BVI Financial Investigation Agency (FIA)...

In this 4th session of our ongoing webinar series, BVI Counsel Rachael Pape discusses the use of BVI entities in cross-border finance transactions, including registration of security, guarantees, conditions precedent and other key considerations applicable to BVI entities.

BVI statute does not currently provide for the legal assignment of a chose in action governed by BVI law and does not have an equivalent of Section 136 of the English Law of Property Act, 1925.

The BVI was amongst those moved to the EU's list of fully cooperative tax jurisdictions on 18 February.

On 16 January 2024, the BVI Financial Services Commission announced the release of updated annual return forms, in an effort to enhance reporting efficiency...

The 2025 BVI regulatory calendar includes key regulatory filing dates with additional guidance and background on some of the primary regulatory regimes...

The International Tax Authority (ITA) of the British Virgin Islands has released templates for Individual and Entity Self-Certification Forms under US and UK FATCA. Copies can be found on the BVI Government's website.

This article reviews the steps licensees must take to avoid risking enforcement action as a breach of the parent legislation under which the licensee's licence is granted.

Harneys continues to monitor developments related to the EU’s AIFMD with a focus on how it will affect our clients in the Cayman Islands and BVI.

To cap off another successful year for standards in transparency and cooperation, the Cayman Islands, British Virgin Islands ("BVI") and Ireland were recognised by the Financial Stability Board ("FSB") as jurisdictions that have sufficiently strong adherence to internationally agreed information exchange and cooperation standards in the areas of banking, insurance and securities regulation.

The Broad Idea decision was hence perceived as a damaging retrograde step that would do nothing to enhance the reputation of the Territory.