Category Archives: Articles

BVI Business Companies Act to be Further Enhanced

By Christopher Simpson, O’Neal Webster Partner. The renowned BVI Business Companies Act which came into effect 2005 and modernised the BVI corporate law regime promulgated under the earlier International Business Companies Act of 1984, is to be further enhanced through … Read more

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Unleashing the Power of the BVI Restricted Purposes Company

Modern day company law has largely moved away from the concept of “ultra vires” which sought to limit the ability of a company to enter into transactions outside its stated objects. The British Virgin Islands officially moved away from the … Read more

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“Protecting Wealth: A jurisdictional guide” | China Edition

Introduction to the British Virgin Islands Jurisdiction The British Virgin Islands (“BVI”) remains one of the largest offshore domiciles in the world. There are some 800,000 companies registered with the BVI’s Registry of Corporate Affairs. Depending on the source, anywhere … Read more

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Legitimate Concerns: BVI Status of Children Act, 2014

The majority of offshore jurisdictions have long provided for equality in the legal rights and status of legitimate and ‘illegitimate’ children where trusts, estates and wills are concerned. As of 31 October 2014, the BVI joined such jurisdictions, instituting the … Read more

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Incubating Hedge Funds for the Future: A BVI perspective

To incubate is to keep something in a suitable environment for a term where it can develop to its full potential. Increasingly, the concept is being applied to hedge funds, where “to incubate” implies structured conditions for the development and … Read more

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Summary Guide to the Law on Wills for Prospective Purchasers of BVI Property

This summary guide provides general commentary and direction to prospective purchasers of BVI property on the law relating to Wills in the BVI.  Click here for guide.

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A Brief Guide to Property Holding in the British Virgin Islands

This guide outlines the various structure options for holding BVI Property and the basic benefits and considerations attributed to each structure.

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IFLR1000 interviews new Partner, Christopher Simpson

IFLR 1000’s Michael Washburn interviewed O’Neal Webster’s new Partner, Christopher Simpson in relation to capital markets trends for an article published on 11 February, 2015.  Click here to read the article. He noted, among other things, that recent legislation in the BVI, such as the approved … Read more

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The Status of Children Act brings equal rights under BVI Inheritance Law

Previously, BVI succession rules in intestate estates distinguished between children born in and outside of wedlock, dismissing all inheritance rights of an ‘illegitimate’ child.  The Status of Children Act 2014 (the “Act”) has abolishes this archaic approach in line with … Read more

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FATCA and the BVI (a summary guide)

What is FATCA The Foreign Account Tax Compliance Act (“FATCA”) is a seminal piece of legislation being implemented by the United States (“US”) which has significant implications for its citizens and other US tax residents, in particular those with foreign … Read more

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VISTA Trusts 10 years on – Your Questions Answered: Part 2

In part 2 of this article, Chris McKenzie of O’Neal Webster, who chaired the STEP committee the proposals of which led to the enactment of VISTA, answers some further questions which are from time to time raised in relation to … Read more

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VISTA Trusts 10 years on – Your Questions Answered: Part 1

The Virgin Islands Special Trusts Act, 2003 came into force just over a decade ago – on 1 March 2004.  It creates an alternative, opt-in, trust regime which is specially designed for situations in which shares in companies are placed … Read more

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BVI Arbitration Act effective from 1st October, 2014

The Arbitration Act comes into force on 1st October 2014. In the article below, senior partner, Paul Webster, Q.C. and associate, Rhonda Brown set out the key features of the new Act. The Modern Approach: BVI passes new Arbitration Act In the last … Read more

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Judicial Perspectives Concerning BVI Limited Partnerships

Within this article that first appeared in the BVI IFC’s Newsletter (May, 2014), Willa Tavernier provides a legal update on the judical perspectives concerning BVI limited partnerships. To view the PDF version, please click on this link – Judicial Perspectives … Read more

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BVI versus Cayman Islands – Investment Funds Comparison

This quick reference chart has been prepared for the assistance of those who are considering the formation of an investment fund in an offshore jurisdiction such as the British Virgin Islands (“BVI”) or the Cayman Islands (“Cayman”) and compares the … Read more

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Guide to Trust Law & Trustees Services in the BVI

Click on the link below to view Christopher McKenzie’s ‘ Overview on Trust Law & Trustees Services in the BVI’, which reflects the recent amendments to BVI trust law. To view PDF version, please click this link – An Overview of Trust Law & Trustee … Read more

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The Modern Approach : BVI passes new Arbitration Act

In the last 30 years the British Virgin Islands (“BVI”) has evolved into a thriving commercial centre where substantial commercial disputes are resolved by an efficient court system. In order to cope with the increased volume of commercial litigation the … Read more

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Case study: The appointment of Personal Representatives in Intestate Estates

Click here to read Nadine Whyte’s case study entitled ‘Case study – The appointment of Personal Representatives in Intestate Estates’ published in the IFC Caribbean Review 2014. Paul Webster, QC and Nadine Whyte successfully won this landmark case for our … Read more

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“Getting the Deal Through” – Enforcement of Foreign Judgments in the BVI

The main source of law on the enforcement of foreign judgments in the British Virgin Islands is legislation. These are: the Reciprocal Enforcement of Judgments Act (chapter 65), which deals with the registration of judgments from the High Court in England or … Read more

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The BVI – Emerging as a Leading Intellectual Centre

Read Vanessa King‘s article for Business BVI (2014 edition) entitled ‘The BVI – Emerging as a Leading Intellectual Property Centre’. Download PDF Here. Business BVI is described as the premier business & investment publication of the British Virgin Islands. Reproduced with … Read more

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