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

Harneys has recently acted for a client and obtained an order from the BVI High Court for the appointment of a liquidator over a re-insurance company under the BVI Insolvency Act.

The British Virgin Islands (BVI) will shortly implement some important changes to the rules governing segregated portfolio companies (SPCs) incorporated or registered under the BVI Business Companies Act, 2004 (BCA).

The BVI Government has enacted a measure which exempts nationals of the People's Republic of China from the need to apply for a visa to visit the BVI for up to six months for business or tourism purposes.

The British Virgin Islands has gazetted the Virgin Islands Insurance (Amendment) Act 2015 and the Insurance Amendment Regulations 2015.

New legislative provisions will come into force shortly in the British Virgin Islands relating to financial services, insurance business and financing and money services.

The British Virgin Islands is a United Kingdom Overseas Territory located approximately 60 miles east of Puerto Rico in the Caribbean.

What is premium financing? Premium insurance financing enables high net worth individuals to obtain life insurance at minimal cost by arranging financing from a lender to cover the policy premiums.

New Commercial Court rules now apply.

In a twist of misfortune, the Claimant's solicitors applied to come off the record immediately before the security for costs application and its demitting solicitors appeared with only instructions to seek an adjournment.

Harneys weathered Hurricanes Irma and Maria and our BVI office reopened shortly after the passage of the storms with all teams and practice groups providing normal client service

At the 11th hour, the British Virgin Islands Financial Services Commission announced that the Companies Act, 1884 would not be repealed on 31 December 2007 as previously indicated.

BVI entity can be either incorporated as a segregated portfolio company or if already incorporated, registered as such by the Registrar.

The British Virgin Islands (BVI) has for some time been among the top five offshore jurisdictions in the world for the domiciliation of captive insurance vehicles.

Insurance Code of Conduct for BVI domestic insurers, insurance intermediaries, and loss adjusters to take effect July 6, 2021...

A segregated portfolio company (SPC) or protected cell company (PCC), as it is known in some jurisdictions, is a single legal entity, but the company is made up of individual "protected cells". It has a "core" capital (the ordinary share capital provided by the owners) but in addition each cell has its own capital (usually redeemable preference shares), provided by the client using that cell. Each cell is completely separate from each other but linked to the common core

An AML/CFT Return refers to the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Return, which is an annual reporting requirement for certain BVI regulated entities...

The British Virgin Islands Financial Services Commission (FSC) is a member of the International Association of Insurance Supervisors (IAIS).