Significant Progress Made: New Developments for the BVI Financial Services Sector

We are pleased to report that significant progress is being made in restoring the financial and legal services available on Tortola. The backlog of past filings has now been cleared; the BVI’s online incorporations system, VIRRGIN, is fully functioning; regulatory … Read more

Posted in News Tagged ,

BVI Financial Services Centre and Commercial Courts Update

Tortola, British Virgin Islands 22 September Update Dear Clients, Associates and Friends, We are pleased to report that the BVI’s international business and finance centre is making significant progress towards restoring business as usual. BVI financial services are up and … Read more

Posted in News

Advising the Family Business Through Economic or Emotional Disruption

Grief, shock and the resulting shift in family and business dynamics could be a catalyst for economic and emotional disruption within a family business. What can you do, either to prepare in advance or to react after the event, to … Read more

Posted in Articles, News Tagged ,

STEP Interview with Vanessa King

This 60-Second Interview was conducted by The Society of Trust and Estate Practitioners and was first published on STEP.org, August 29, 2017. Q: How and why did you get involved with STEP? Christopher McKenzie, the first Chair of the British … Read more

Posted in News Tagged ,

BVI Capital Economics Study and History of International Trade Vindicates Offshore Centre

International Trade The history of trade can be traced back for thousands of years, from the early days of bartering to the introduction of money, and now, modern, complex trade and finance arrangements between individuals, countries, and international trade groups. … Read more

Posted in Articles Tagged , , ,

RIP: Winding up a BVI Company Through Voluntary Liquidation

“All good things must come to an end.” – Well-known saying by Geoffrey Chaucer (1374). Why Choose Voluntary Liquidation BVI companies are commonly incorporated without a specific termination period. However, once they have served their useful business purpose their owners … Read more

Posted in Articles Tagged ,

Five O’Neal Webster Attorneys Named to Private Client Directory of Globally Recommended Wealth Managers and Advisers

TORTOLA, July 1, 2017 — O’Neal Webster is pleased to announce that five partners were named to Citywealth’s 2017 Leaders List, the private client directory of recommended wealth managers and advisers. Individuals are nominated by their peers or organizations and … Read more

Posted in News Tagged , , , ,

BVI’s Updated Beneficial Ownership Reporting Regime Takes Effect

The British Virgin Islands will implement its new beneficial ownership reporting regime on July 1, 2017, by virtue of the recently passed Beneficial Ownership Secure Search System Act, 2017, (BOSSs), which comes into force on June 30, 2017. The Act … Read more

Posted in Articles, News Tagged ,

BVI Supports Two Million Jobs Globally, Says Independent Report

June 2017, TORTOLA—New data released June 21, 2017 show that the British Virgin Islands financial services industry supports roughly two million jobs in global investment and trade, worldwide. The independent study by Capital Economics found that the BVI mediates over … Read more

Posted in News Tagged , ,

Protect Your BVI Business Company Assets

For years, the BVI Business Companies Act has provided an attractive and appropriate vehicle to hold property in the BVI and abroad, many finding it a particularly useful strategy in estate planning. But persons who neglect their BVI Business Company … Read more

Posted in Articles Tagged , ,

Alert: Extension of BVI CRS deadlines

The British  Virgin  Islands Government recently announced  the  extension of the 2017  deadlines  for  notification  and reporting obligations  under  the  Common  Reporting  Standard, or CRS. As a result, BVI financial institutions will now have until June 30, 2017 to register … Read more

Posted in Articles, News Tagged ,

New Guidelines for Insolvency Cases Being Tested in The Eastern Caribbean Supreme Court

The Eastern Caribbean Supreme Court recently acted to increase coordination, cooperation, and communication among courts in cross-border proceedings of insolvency or debt adjustments, joining Singapore, Delaware, Bermuda, England and Wales, and the Southern District of New York in adopting the … Read more

Posted in News Tagged ,

Jamaica’s Consumer Protection Laws

This Q&A excerpt from Christopher Simpson on Jamaica’s consumer protection laws was first published in the Dialogue’s “Latin America Financial Services Advisor,” April 5, 2017. Q: Jamaica’s government is planning to create a new financial services consumer protection agency. Finance … Read more

Posted in Articles Tagged , ,

BVI Hosts International Disputes at New, State of the Art Arbitration Centre

There is no dispute that the 2017 hard-opening of the new ‘state of the art’ British Virgin Islands International Arbitration Centre signals the BVI’s intent to become the leading arbitral and dispute resolution destination in the Caribbean. The Centre, an … Read more

Posted in Articles, News Tagged ,

Privy Council Offers Guidance on the Treatment of Non-Matrimonial Property in Divorce Proceedings

By Dr. Alecia Johns, Associate Attorney, O’Neal Webster The Privy Council handed down a December 2016 judgment in a matrimonial appeal from the British Virgin Islands which challenged the lower courts’ ruling on the division of property in divorce proceedings. … Read more

Posted in Articles Tagged ,

UK Inheritance Tax Deadline Looms for “De-enveloping” your BVI Company

The UK Government’s recent consultation on tax reforms in respect of non-domiciled individuals, whether resident or not, has resulted in a shake-up of company law. The UK has announced that from April 6, 2017, residential property in the UK held … Read more

Posted in Articles, News Tagged ,

O’Neal Webster Partner Vanessa King Elected to BVIFL Board of Directors

TORTOLA – Jan. 26, 2017 – O’Neal Webster is pleased to announce that Partner Vanessa King has been elected to the board of directors of BVI Finance Limited (BVIFL), formerly BVI Finance, for a term of three years. She has … Read more

Posted in News Tagged ,

STEP Caribbean and Latin America Region Elects O’Neal Webster Partner Vanessa King as Deputy Chair

TORTOLA – Jan. 26, 2017 – O’Neal Webster announces that Partner Vanessa King has been elected Deputy Chair of the Society of Trust and Estate Practitioners’ (STEP) Caribbean and Latin America Region. She joins Chair Ivan Hooper of Uruguay, Secretary … Read more

Posted in News Tagged ,

O’Neal Webster Partner Vanessa King earns STEP Founder’s Award for “Outstanding Achievement”

 Nov 24, 2016 – TORTOLA – British Virgin Islands-based law firm O’Neal Webster congratulates Partner Vanessa King as the recipient of the Society of Trust and Estate Practitioners’ ninth annual, prestigious Founder’s Award. The Award is presented to an individual … Read more

Posted in News Tagged ,

Investment Fund Managers “Brexit” to the BVI

In the post-recession economy, investment managers are looking for increased flexibility and ways to maximise investor returns by minimising set up costs, government fees, and other related functionary and advisory costs. That is why many are now “Brexiting” to the … Read more

Posted in Articles Tagged ,