News and Articles

NEWS AND ARTICLES

Ship Arrest: A Legal Mechanism in British Virgin Islands Maritime Law

September 2, 2025

INTRODUCTION Ship arrest is a legal mechanism whereby a ship can be detained as security for a claim pending the outcome of court proceedings. It is a tool unique to maritime law that can have significant legal, financial and operational…

BVI Approved Managers – Managing Investments Globally

August 28, 2025

O'Neal Webster

In 2023, it was estimated that the value of assets under management by hedge funds was in the region of US $5 trillion. Increasingly, offshore jurisdictions such as the British Virgin Islands (BVI) feature in the structures used by onshore…

Is My Vessel Eligible for BVI Registration?

July 31, 2025

O'Neal Webster

Virgin Islands Shipping and Maritime Authority’s 2025 List of Eligible Jurisdictions for Vessel Registration The Virgin Islands Shipping and Maritime Authority (VISMA) has released an updated list of jurisdictions whose nationals and corporate entities are now eligible to register vessels…

Twenty Tips and Tricks for BVI Trustees and Registered Agents – Part Four

July 21, 2025

O'Neal Webster

The following is the final part of a four-part series written by Chris McKenzie. Need to catch up? Read Part one, Part two, and Part three. Sixteen The need to take care when schedules are included in trust instruments Many…

New beneficial ownership requirements in the British Virgin Islands: a trust-worthy perspective

July 2, 2025

O'Neal Webster

By Chris McKenzie and Akita Alexander-Mercer Trusts & Trustees, published by Oxford University Press, June 20, 2025 Following the Caribbean Financial Task Force’s Mutual Evaluation Report, a number of changes to the British Virgin Islands’ (BVI) trust and corporate legislation…

Extension for BVI Companies Initial Annual Filing Ends 30 June 2025

June 25, 2025

O'Neal Webster

BVI Financial Services Commission (FSC) has issued a reminder to BVI companies whose financial year is a calendar year that the 9-month extension for filing initial annual financial returns (annual returns) granted pursuant to the notice issued by the BVI FSC dated 10 December 2024, ends…

Statutory filing extensions announced for existing BVI Companies and Limited Partnerships

June 11, 2025

O'Neal Webster

Road Town, Tortola, British Virgin Islands – The BVI Registrar of Corporate Affairs has announced a six-month extension of the period for the statutory non-public filing of (i) the register of members, information on director services provided, and beneficial ownership…

Twenty Tips and Tricks for BVI Trustees and Registered Agents – Part Three

June 3, 2025

O'Neal Webster

The following is the third of a four-part series written by Chris McKenzie. (See Part 1 here and Part 2 here.) Eleven The need to avoid referring to a settlor’s letter of wishes in a trust instrument Only rarely would…

Applicability of Drelle v Servis-Terminal LLC in the British Virgin Islands 

May 28, 2025

O'Neal Webster

On January 21, 2025, the Court of Appeal in England in Valeriy Ernestovich Drelle v Servis-Terminal LLC (Drelle)1ruled that a debt based on a foreign judgment that has not been recognised in England cannot be used to found an application…