As evidence of its continued commitment to transparency in the financial services industry and its compliance with international standards, the British Virgin Islands executed a much anticipated Tax Information Exchange Agreement (TIEA) with Canada on 21 May 2013.

In April 2015 the BVI, the Cayman Islands and certain other jurisdictions were removed from Italy's blacklist of jurisdictions.

The British Virgin Islands' International Tax Authority (ITA) issued, on 2 April, a new Version 4 of its Rules on Economic Substance (ES), which replaces the previous version from February 2023...

On 14 October 2016 the Cyprus Income Tax Law (ITL) was amended, effective as from 1 July 2016, introducing a new IP box regime.

The US Foreign Account Tax Compliance Act, commonly referred to as FATCA, became effective earlier this year, and foreign financial institutions in every jurisdiction, including in the British Virgin Islands and the Cayman Islands, will be required to make certain reports to the US Internal Revenue Services.

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.

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

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

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

The Economic Substance (Companies and Limited Partnerships) Act, as amended (the "ESA"), requires BVI legal entities which engage in relevant activities to maintain economic substance in the BVI.

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.

The deadlines for BVI RFIs to enrol with, and report to, the BVI International Tax Authority (the "BVI Tax Authority") have been extended.

Recent amendments to the BVI's guidance notes issued in connection with economic substance, as contained within the Rules in Economic Substance in the British Virgin Islands...

The EU Council has listedAntigua and Barbuda, Belize and Seychelles as non-cooperative jurisdictions for tax purposes, while it removed the British Virgin Islands...

The BVI Government has announced the conclusion of negotiations with the US on a Model 1 Intergovernmental Agreement (IGA) under FATCA.

The British Virgin Islands and the Cayman Islands have entered into agreements with the UK for automatic disclosure of information in respect of interests in financial accounts held by UK residents.

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 ...

The British Virgin Islands (BVI) has passed legislation requiring certain legal entities carrying on relevant activities to demonstrate adequate economic substance in the BVI.