Category Archives: Articles

Redomiciling to the BVI: A wise choice for many companies in the COVID-19 era

Companies often consider “what if” they could transfer to another jurisdiction based on what is currently happening in their jurisdiction, or simply to take advantage of the regime and benefits offered by another jurisdiction. This era of COVID-19 is unprecedented … Read more

Posted in Articles Tagged , ,

O’Neal Webster Advises on JPY 3.8 Billion British Virgin Islands Plan of Arrangement

O’Neal Webster has advised on a JPY 3.8 billion British Virgin Islands plan of arrangement which was recently approved by the Eastern Caribbean Supreme Court (British Virgin Islands) on April 6, 2020. Articles of arrangement were subsequently filed with the … Read more

Posted in Articles, News Tagged , , , ,

EASTERN CARIBBEAN SUPREME COURT ADOPTS MEASURES FOR ALTERNATIVE EFFECT OF SERVICE ON BVI BUSINESS COMPANIES

Prior to the impact of COVID-19, effect of service of a claim form or other document on a BVI Business Company was attained by the physical delivery of service at the company’s registered office or registered agent’s office.  On 23 … Read more

Posted in Articles, News Tagged , , ,

WHAT BVI EMPLOYERS NEED TO KNOW AND DO IN THE PRESENT COVID-19 BUSINESS ENVIRONMENT

Over the past few weeks, British Virgin Island authorities and the business community have been actively monitoring the rapidly evolving COVID-19 disease. With the surge of reported cases around the world, and now in the Caribbean, all major stakeholders in … Read more

Posted in Articles Tagged , , ,

Eastern Caribbean Supreme Court Adopts Measures to Ensure Continuity in Response to COVID-19 Impact

O’Neal Webster hopes that you, your family, your co-workers, and communities are staying healthy and positive during these challenging times. With the surge of the new coronavirus COVID-19 cases around the globe, and now in the Caribbean, all major stakeholders … Read more

Posted in Articles, News Tagged , , , , ,

Making a Will Won’t Kill You

Why Shareholders of BVI Companies and the Owners of BVI Real Property Should Consider Executing Wills Many people tend to put off the preparation of a will to a future date, but there are numerous reasons to grab the bull … Read more

Posted in Articles Tagged , , , ,

EU Upgrades BVI to Whitelist Status

BVI government welcomes whitelist status announcement. Blacklist expands to include 12 jurisdictions. On 18 February 2020, EU Finance Ministers updated the EU list of non-cooperative tax jurisdictions, upgrading the British Virgin Islands to whitelist status, which designates the country as a fully … Read more

Posted in Articles, News Tagged , , , , , , ,

New Regime for BVI Closed-End Funds Brings Major Changes

The British Virgin Islands government recently passed new legislation affecting the funds industry. In particular, the new BVI Securities and Investment Business (Amendment) Act, 2019 institutes a supervisory regime for closed-ended funds, with the following major changes. Most closed-ended funds will … Read more

Posted in Articles, News Tagged , , , , ,

Revisiting and Resisting Freezing Orders

Freezing orders are one of the most important weapons in a court’s arsenal to prevent parties from disposing of or dissipating assets to ensure they will be available to satisfy a potential future money judgment. In the British Virgin Islands, the court is … Read more

Posted in Articles Tagged , , ,

Benefits of a BVI Trademark:

Classification of goods and services in protecting particular brands in the British Virgin Islands As we enter into a new decade, we cannot over emphasize the importance of protecting your brands. In this digital age, trademarks are becoming more vulnerable … Read more

Posted in Articles Tagged , , ,

Set Sail with O’Neal Webster

How to Register your Vessel with the Virgin Islands Shipping Registry Registering a vessel in the British Virgin Islands with O’Neal Webster is easy as 1, 2, 3…set sail! With an admiralty practice that spans over 25 years, we can … Read more

Posted in Articles Tagged , , , ,

MITIGATING BVI BUSINESS COMPANY DISRUPTION

Structure your BVI company shareholding to eliminate or reduce delays associated with probate Ease of operation and flexibility are two of the most attractive features of a BVI business company (BVIBC). However, the death of a shareholder can cause disruption … Read more

Posted in Articles Tagged , , , , ,

BVI Funds – A Smart Bet in Uncertain Times

By Kerry Anderson and Christopher Simpson News outlets, including The Guardian and CNBC, were reporting and market watchers were opining in early 2019 that a slowing world economy forebodes a major global economic shift—possibly another recession. By mid-August, the concern … Read more

Posted in Articles, News Tagged , , , ,

The Substantive Issue of Economic Substance: A BVI perspective

By Christopher Simpson, O’Neal Webster The issue of economic substance is not a new one. More and more, modern companies coupled with new technology and trading practices challenge the notion of “economic substance” for value creation in the traditional sense … Read more

Posted in Articles Tagged ,

BVI ITA Releases Economic Substance Rules

The International Tax Authority (ITA) in the British Virgin Islands (BVI) has now released the Rules on Economic Substance (the Rules) which provides guidance on the interpretation of provisions under the Economic Substance (Companies and Limited Partnerships), 2018 (the Act).  … Read more

Posted in Articles, News Tagged

Sailing Into the Headwinds of an Evolving World Economy

The world economy continues to grow, not only in complexity but in competitiveness. Although the British Virgin Islands is recognized as a significant contributor to global wealth, the country continues to face headwinds in the race to keep pace with evolving trends … Read more

Posted in Articles, News Tagged , , ,

Global Implications for Offshore Financial Centers and Companies in the Wake of EU Economic Substance Requirements

The passage of the EU’s economic substance legislation for most offshore financial jurisdictions has ushered in challenging new criteria. Writing for Trusts & Trustees, the leading international journal on trust law and practice and the official journal of the International Academy … Read more

Posted in Articles Tagged , ,

Guide to Trust Law & Trustees Services in the BVI

In addition to being the world’s leading international finance centre in which to set up companies, the British Virgin Islands (BVI) is now regarded as one of the world’s premier trust jurisdictions. The general principles of the trust laws of … Read more

Posted in Articles Tagged , ,

Navigating the British Virgin Island’s Economic Substance (Companies and Limited Partnerships) Act, 2018

By Kerry Anderson, Partner, Head of Funds & Regulatory Department The European Union continues to push out new rules aimed at offshore financial centers. Specifically, the Code of Conduct Group (CCG) within the EU’s Economic and Financial Affairs (ECOFIN) Council … Read more

Posted in Articles Tagged , , ,

Interview with Vanessa King

Legal 500’s recently launched magazine, fivehundred, interviewed O’Neal Webster Managing Partner Vanessa King for the April 2019 edition, talking about talent retention, EU blacklisting, launching a New York office, building a thriving law firm team, and the difficulties of having … Read more

Posted in Articles, News Tagged , , ,