For over three decades, it has been common practice for high net worth individuals to hold their wealth via shares in British Virgin Islands ("BVI") business companies.

In practical terms, that right extended here to unredacted engagement letters with legal counsel revealing the identity of a third‑party litigation funder paying the companies' legal bills. "Improper purpose" remains a possible constraint, but it is narrow and must be proved with cogent evidence by the party resisting inspection.

When a sole shareholder and director of a BVI company passes away, the absence of a director can lead to significant administrative challenges and delays in estate administration. This article examines practical solutions available under BVI law, including the strategic appointment of reserve directors and the use of trust structures, to ensure business continuity and facilitate the smooth transfer of shares to beneficiaries.

Pursuant to the BVI Business Companies (Financial Return) Order, 2023 (the "Order") (available here), every BVI company is required to file with its registered agent an annual financial return...

The English Commercial Court has ruled that documents created during a litigation funder's pre-funding investigation do not attract litigation privilege, and that such documents may be within the control of claimants whose solicitors were previously engaged by the funder. This decision has significant implications for how litigation funders structure their retainer arrangements and manage confidentiality during the investigatory phase of potential claims.

First, there have been amendments to the BVI Business Companies Act, 2004 ('BCA') which provide for the filing for registration by the Registrar of Corporate Affairs ('Registrar') of copies of a company's register of members and register of directors.

The clock is ticking towards April 2017 when the new rules affecting the status of non-domiciled but UK resident individuals as set out in Finance Bill 2017 will take full force and effect.

BVI companies are commonly incorporated without a specific termination period. However, once they have served their useful business purpose their owners must consider the best way of terminating the entity.

BVI companies must file annual returns containing balance sheets and income statements with their registered agents. Companies with a December 31 year-end face a September 30, 2026 deadline, while others must file within nine months of their financial year-end. Conyers offers preparation services starting at $1,500 for simple holding companies and provides secure online filing through their client portal.

Every company, which is required to file an annual return, must submit to its Registered Agent a return in the form, and containing the information specified in the Schedule to the Order.

The end of the year is on the horizon and with it come the usual administrative preparations for those Companies that have reached the end of their life cycle and wish to voluntarily liquidate.

Effective 1 January 2023, all companies incorporated or registered in the BVI ("Companies") are required to file a financial return (an "Annual Return") with their Registered Agent each year.

On 24-25 October 2023, Justice Wallbank of the BVI Commercial Court presided over a valuation trial in the matter of Soemarli Lie v Ng Min Hong & Success Overseas Finance Limited...

Are you involved in managing or advising a British Virgin Islands ("BVI") company? Understanding the duties owed by directors...

Thinking of paying dividends from your British Virgin Islands ("BVI") company? Subject to compliance with the applicable statutory solvency test and any restrictions contained in a company's memorandum and articles...

From 1 January 2023, the Registrar shall make available, upon request, the names of incumbent directors of any BVI company.

Our British Virgin Islands office's most popular publications provided valuable insights on doing business in the jurisdiction, effective asset recovery tools, strategies for addressing modern legal challenges...

On 25 February, the UK Supreme Court delivered an important judgment in THG Plc v Zedra Trust Company (Jersey) Ltd [2026] UKSC 6, on the application of the English statutory limitation periods (under the Limitation Act) to unfair prejudice petitions under s.994 of the Companies Act 2006

In its seminal decision in Broad Idea International v Convoy Collateral [2021] UKPC 24 ("Convoy"), a case which had its genesis in the BVI Commercial Court, the Privy Council delivered...

The continued fall-out of the high-profile collapse of the Three Arrows crypto fund has seen another development, with the BVI Court permitting alternative service by Twitter after the collapsed fund's directors failed to appear for examination before the BVI Court.