Tag Archives: Christopher Simpson
BVI FSC Extends Annual Licence Fee Payment Deadline for Certain Licensees
An important notice came from the British Virgin Islands Financial Services Commission (the Commission) on March 23, 2020. The Commission acknowledged the possible business disruptions that the global pandemic COVID-19 may present for certain licensees in complying with the upcoming … Read more
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
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
BVI Companies and their Registered Agents: A critical relationship
A sometimes overlooked, yet critical, aspect of a British Virgin Islands (BVI) company is the role of its registered agent. Only a registered agent can incorporate a BVI company, and they are essential in its ongoing maintenance. Registered agents are … Read more
British Virgin Islands gains ranking in the global cryptocurrency and ICO market
The cryptocurrency craze is growing with no end in sight despite pushback from some countries, financial institutions, and global corporate giants. For the first six months of 2018, the United States, as the largest cryptocurrency market in the world, had … Read more
British Virgin Islands’ New Limited Partnership Act Offers Significant Changes
Best-known for its stunning natural beauty—jewel-colored waters, soft sandy beaches, and lush mountain ridges—the British Virgin Islands also excels among her peers in the international financial services industry. Notably, the Territory is relentless in its pursuit of refining and advancing … Read more
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
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
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
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
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
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
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
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
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
Seven O’Neal Webster Lawyers Recommended by The Legal 500 Caribbean 2017
November 10, 2016 – Tortola – British Virgin Islands-based law firm O’Neal Webster announced today that the firm and seven lawyers in three key practice areas have been recommended by the editor of The Legal 500 in the 2017 Caribbean … Read more
Five O’Neal Webster Partners recognized in Citywealth’s IFC 2016 Leaders Lists
Oct. 2016, TORTOLA – The prestigious 2016 Citywealth IFC Power Women Top 200 List and 2016 Leaders List (Lawyers) recently recognized five O’Neal Webster Partners. The IFC Power Women recognizes 200 of the most powerful women in government, private wealth, … Read more
Onshore vs Offshore – is there really a battle?
Over the past few months the issue of offshore jurisdictions and the role they play in the global economy has come under extreme scrutiny, especially from onshore governments seeking to increase tax revenues. The recent Panama Papers Leak has only … Read more
Announcing: 2016 STEP Caribbean Conference in St. Lucia
Thought-provoking, engaging, and always leading edge, STEP CC16 —the Society of Trust and Estates Practitioners Caribbean Conference 2016— will showcase the best of the region along with some of the most interesting speakers in the global trust and wealth structuring … Read more
Corporate Law Evolution at its Best
(A synopsis of the recent amendments to the BVI Business Companies Act) 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, … Read more