We are pleased to announce that following a meeting of the European Union's Economic and Financial Affairs Council on October 17, 2023, the British Virgin Islands (BVI)...

In response to the requirements of the EU Code of Conduct Group (the Code of Conduct Group), from 1 January 2019 the British Virgin Islands implemented new legislation setting

The British Virgin Islands ("BVI") is one of the leading offshore investment funds jurisdictions, attracting investment managers and investors worldwide. BVI investment fund structures are well known...

The BVI and Cayman are often referred to as "tax neutral" and you might have been told that, for this reason, it would be advantageous to establish your fund in either jurisdiction.

The implementation of the FATCA Intergovernmental agreements signed by the BVI with the US and the UK has taken another step forward.

On 5 February 2024, the BVI International Tax Authority (ITA) published its updated Common Reporting Standards (CRS) lists of Participating Jurisdictions and Reportable Jurisdictions for 2023.

The Canada-BVI Tax Information Exchange Agreement came into force on 11 March 2014.

The US Internal Revenue Service made provision for Financial Institutions in jurisdictions that have already reached an "agreement in substance".

The Government of the British Virgin Islands has recently enacted two revenue-increasing measures. One raises the tax on alcohol and tobacco, and the other on hotel accommodation.

The BVI Government has signed a Model 1B Intergovernmental Agreement in relation to the US Foreign Account Tax Compliance Act.

Cyprus and India have signed a new double tax treaty which is expected to foster increased use of Cyprus as a gateway for investment both into and out of India.

On 2 April 2024, the BVI International Tax Authority (ITA) published version four of its economic substance rules and explanatory notes (the Rules)...

Further to our previous updates, the BVI ITA, on 19 February 2019, published guidance notes on the CbCR requirements of entities that are resident in the BVI and updated guidance notes on the OECD's CRS.

BVI Economic Substance (Companies and Limited Partnerships) Act, Beneficial Ownership Secure Search System Act and Related Rules and Regulations...

The government of the British Virgin Islands has recently clarified the filing deadlines under the various automatic exchange of information regimes in a number of bulletins and press releases.

Why use "offshore" structures for these types of fund vehicles in the first place if there is not a "tax" angle to it?

The Non-Profit Organisation Act, 2012 (the "Act") came into force on 1 January 2013 and introduces a registration and compliance regime for non-profit organisations operating in the British Virgin Islands.

The British Virgin Islands government entered into its twenty-sixth tax information exchange agreement with the Government of Japan on 18 June 2014.

After a three year standstill during which Cyprus was declared a 'notified' jurisdiction under the Indian tax code due to a perceived lack of information sharing...

The issue of offshore jurisdictions and the role they play in the global economy has come under extreme scrutiny, especially from onshore governments seeking to increase tax revenues.