Corporate & Commercial

Articles and news about BVI corporate and commercial law and transactions.

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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…
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Virgin Islands Supreme Court Building

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…
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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…
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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…
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O'Neal Webster-BVI Law- Road town on Tortola the capital of British Virgin islands

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…
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BVI Business Company

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…
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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…
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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). …
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