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The purpose is to position BVI to receive a favourable assessment from ESMA, when it advises the European Commission on whether the AIFMD passport may be extended to BVI.

British Virgin Islands companies frequently feature as obligors in guaranteed and secured financings.

A derivative action is brought where a wrongdoer, most commonly a director of the company, has caused the company loss through their wrongdoing.

The integrity of tax systems around the world has been challenged for years, stymied by undetected, illegal evasion tactics.

There is no requirement or need to obtain any certificate or undertaking to that effect.

The Commercial Court of the British Virgin Islands was established in 2009 and since then it has dealt with a high volume of financial services work.

On 1st January 2016, an amendment to the Mutual Legal Assistance (Tax Matters) Act, 2003 came into force which implements the Organisation for Economic Co-Operating and Development...

The BVI Financial Services Commission (the "FSC") Approved Investment Manager Guidelines (the "Guidelines") came into effect on 10 December 2012.

Below is a summary of recent cases out of the British Virgin Islands (BVI) Commercial Court, compiled by Harneys’ Litigation team.

The cost-benefit analysis of AEOI initiatives will no doubt be debated for many years to come. When considering the impact on the Caribbean region, however, two issues stand out.

The sheer volume of active BVI Business Companies (over 400,000) is testament to the fact that no other offshore jurisdiction offers a comparable corporate vehicle.

Following execution of the security document(s), the secured party will want to ensure that particulars of the security are filed with the Registrar of Corporate Affairs in the British Virgin Islands (the "Registrar").

From time to time a British Virgin Islands company and its minority member(s) will not agree on certain matters affecting the minority's interests and objectives.

The BVI Business Companies (Amendment) Act, 2015 (the "Amendment Act"), which includes new requirements for the filing of director information with the BVI Registry, among other changes, was published on 31 December 2015.

Modern day company law has largely moved away from the concept of "ultra vires" which sought to limit the ability of a company to enter into transactions outside its stated objects.

It important for clients to understand the nuances and intricacies of obtaining grants of probate and administration in the BVI.