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The British Virgin Islands Financial Servcies Commission (FSC) today announced an extension to the transition dates under the new Securities and Investment Business Act, 2010 ("SIBA") and Mutual Funds Regulations, 2010 (the "Regulations").

The changes that were announced in the UK Budget 2014 do not affect the above benefits.

On 8 August 2013, the Court of Appeal issued its ruling in the case of Microsoft Corporation v Vadem Ltd

Yes, yes, we all know what the mem and arts and the local companies’ legislation say about having so many (offshore) board meetings a year but, even so, wouldn’t it just be nice to have the flexibility of having them where and when they were needed rather than having to travel half way across the world for a one hour meeting to discuss not very much?

The Privy Council handed down a December 2016 judgment in a matrimonial appeal from the British Virgin Islands which challenged the lower courts' ruling on the division of property in divorce proceedings.

The Securities and Investment Business Act, 2010 ("SIBA") and the accompanying Mutual Funds Regulations, 2010 came into effect on May 17, 2010 and have replaced the Mutual Funds Act, 1996.

The British Virgin Islands’ Mutual Legal Assistance (Tax Matters) Act, 2003 as amended in 2005 (the "Act") has given effect in the BVI to EC Directive 2003/48 on the taxation of savings income in the form of interest payments (the "Directive") for the last six tax years.

The British Virgin Islands Financial Services Commission announced on 9 September 2008 the introduction of an annual financial reporting regime, which will require all funds to file a Mutual Funds Annual Return each year.

New Commercial Court rules now apply. See link here for ease of reference. The new rules deal with a number of procedural points including case management conferences, pre-trial reviews and also include significant changes to the previous High Court costs regime.

The legacies of the global financial crisis continue to permeate the global landscape.

Since the British Virgin Islands ("BVI") invested in a decision to upgrade its corporate framework through the introduction of the Mutual Funds Act, 1996, the Insolvency Act, 2003, and the BVI Business Companies Act, 2004, it has become one of the most popular jurisdictions for corporate transactional work as well as for the incorporation of companies and funds.

Some of the many attractions of the British Virgin Islands are the relatively sophisticated legal system, low operating costs and creditor friendly insolvency regime.

For many years the trust industry has used Private Trust Companies (PTCs) in situations in which a family trust or group of family trusts was involved.

There are now four major offshore multinational law firms with dedicated trust and private client departments in the British Virgin Islands ("BVI"), three of whom have established trust and private client departments in one or more other offshore jurisdictions.

Securitisation is, in its very basic terms, the process of taking an illiquid asset, or group of assets, and through financial engineering, transforming them into a security ...

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

With more than a decade in the jurisdiction, Ogier's partners includes some of the leading names in BVI law – and we are specialists in all aspects of the establishment and operation of investment funds.

The recently established Commercial Court in the British Virgin Islands has been busy on a number of important cases and Phillip Kite, global head of litigation at Harneys, discusses two of the distressed fund cases that have recently been decided in the BVI.