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The British Virgin Islands’ Government has introduced, in its new corporate legislation, innovative new rules addressing conflicts of interest issues for directors in joint ventures.

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.

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?

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.

In a brave and decisive judgment handed down on 20th September 2010, the Eastern Caribbean Supreme Court (on appeal from the BVI Commercial Court) has decided two issues demanding clear and unequivocal guidance, one of which ahead of the Supreme Court of England and Wales.

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.

On 1 January 2005, a new company law regime came into effect in the British Virgin Islands. The new Act, entitled the BVI Business Company Act, has been modelled on the territory’s well-known International Business Companies Act, as amended, and includes several new features to expand its appeal to international investors and business professionals, while also providing a suitable framework for domestic BVI companies.

BVI is home to more than 500,000 International Business Companies (IBCs). An IBC is a corporate vehicle having limited liability, which, provided it has no business activities in the British Virgin Islands, is wholly exempt from BVI tax on its income and from inheritance or estate tax on its shares. Only a nominal annual fee is payable to the Government (in most cases US$300).

Following the completion of an industry consultation, the Securities and Investment Business Act, 2010 ("SIBA") came into force in the British Virgin Islands ("BVI") on 17 May 2010.

After much anticipation, the Securities and Investment Business Act, 2010 ("SIBA") came into force in the British Virgin Islands ("BVI") on 17 May 2010.

The purpose of this article is to provide an overview of the authorised representative role that was introduced in the BVI by the Securities and Investment Business Act, 2010 ("SIBA").

After much anticipation, the BVI has enacted the Securities and Investment Business Act, 2010.

The absence of any Takeover Code has sometimes made it difficult for directors of British Virgin Islands (BVI) companies and their advisers to determine what are the applicable rules when a BVI company is faced by a takeover offer. In basic terms, a takeover can be described as the acquisition by a person of all of the shares in a company save for those held by the offeror.

The Securities and Investment Business Act, 2010 (SIBA) was brought into force in the British Virgin Islands (BVI) on May 17, 2010 (other than Part II dealing with the public issue of securities).

A little more than 20 years ago, a group of lawyers and other professionals from the British Virgin Islands first met with the then Attorney General to discuss the drafting of a completely new piece of companies legislation. The result, after much hard work, was the enactment in 1984 of the International Business Companies Act.