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Investment Funds, Regulatory & Digital Assets

Articles and news related to investment funds & regulatory practice in the BVI.

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O’Neal Webster Acts for Scotiabank on the Sale of its BVI Operations

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O'Neal Webster
folder_openArticles, Banking & Finance, Corporate & Commercial, Firm, Investment Funds, Regulatory & Digital Assets, News, Property & Business
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O’Neal Webster advised The Bank of Nova Scotia, a leading bank in Canada and leading financial services provider in the Americas, on the sale of its British Virgin Islands operations to Republic Financial Holdings Limited. The O’Neal Webster team was…
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Redomiciling to the BVI: A wise choice for many companies in the COVID-19 era

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O'Neal Webster
folder_openArticles, Christopher Simpson, Corporate & Commercial, Investment Funds, Regulatory & Digital Assets
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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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Important notice for all BVI institutions reporting under FATCA or CRS

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O'Neal Webster
folder_openCorporate & Commercial, Investment Funds, Regulatory & Digital Assets, Kerry Anderson, News
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The BVI ITA has announced that it will be extending the enrollment and filing dates for both FATCA and CRS reporting under the BVIFARS. The new dates for FATCA will be July 31, 2020 for enrollment and  August 31, 2020 for filing. For…
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Virgin Islands Supreme Court Building

Eastern Caribbean Supreme Court Adopts Measures for Alternative Effect Of Service On BVI Business Companies

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O'Neal Webster
folder_openArticles, Asha Johnson-Willins, Banking & Finance, Corporate & Commercial, Investment Funds, Regulatory & Digital Assets, News, Property & Business
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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

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O'Neal Webster
folder_openBanking & Finance, Christopher Simpson, Corporate & Commercial, Investment Funds, Regulatory & Digital Assets, Kerry Anderson, News, Property & Business
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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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O'Neal Webster-BVI Law- Road town on Tortola the capital of British Virgin islands

EU Upgrades BVI to Whitelist Status

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O'Neal Webster
folder_openArticles, Corporate & Commercial, Investment Funds, Regulatory & Digital Assets, Kerry Anderson, News, Shipping & Admiralty
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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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New Regime for BVI Closed-End Funds Brings Major Changes

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O'Neal Webster
folder_openArticles, Investment Funds, Regulatory & Digital Assets, Kerry Anderson, News
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The British Virgin Islands government recently passed new legislation affecting the funds industry. In particular, the new BVI Securities and Investment Business (Amendment) Act, 2019 institutes a supervisory regime for closed-ended funds, with the following major changes. Most closed-ended funds will…
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The Substantive Issue of Economic Substance: A BVI perspective

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O'Neal Webster
folder_openArticles, Christopher Simpson, Corporate & Commercial, Investment Funds, Regulatory & Digital Assets
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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

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O'Neal Webster
folder_openArticles, Banking & Finance, Christopher Simpson, Corporate & Commercial, Investment Funds, Regulatory & Digital Assets, Kerry Anderson, News, Property & Business
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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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