Christopher Simpson

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VASP Act 2022 BVI_View of Tortola

Guide to BVI Virtual Assets Service Providers Act, 2022

In December 2022, the British Virgin Islands (BVI) enacted the Virtual Assets Service Providers Act, 2022 (the Act) which came into force on February 1, 2023. The Act introduces a formal supervisory framework for virtual assets service providers. The Act defines…
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O’Neal Webster advises Masplay on its acquisition of Nike de Chile Ltda

O’Neal Webster acted as British Virgin Islands counsel to Masplay, S.A. and its wholly owned subsidiary Equinox Los Andes SPA on its multimillion-dollar acquisition of Nike de Chile Ltda. Masplay is the leading Andean region marketer and distributor of athletic…
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Important Amendments to the BVI Business Companies Act Take Effect on January 1, 2023

The BVI Business Companies Act, 2004 (as amended) (BVIBC Act) is the flagship corporate legislation regulating BVI companies. In August 2022, the BVI government passed amendments to the BVIBC Act and the BVI Business Companies Regulations (as amended), which will…
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BVI FSC Recognises Fusang Exchange as its First Digital Securities and Asset Exchange

The British Virgin Islands Financial Services Commission (FSC) has recently recognised Asia-based Fusang Exchange Ltd as its first digital securities and asset exchange. The Exchange was recognised by way of an amendment to the British Virgin Islands Regulatory Code (Recognised…
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The Reverse Takeover: A BVI perspective

A reverse takeover (RTO) is a transaction by which a publicly traded company acquires all the shares of a target company that has an operating business, but whose shares are privately held. By virtue of the RTO, shareholders of the…
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Fredonia Management Limited Completes Three-cornered BVI Statutory Merger

O’Neal Webster advised Fredonia Management Limited on the listing of its gold and silver exploration business on the Toronto Venture Exchange by way of a three-cornered BVI statutory merger. O’Neal Webster acted as British Virgin Islands counsel to Fredonia Management Limited (Fredonia…
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New BVI Insurance Code of Conduct to Take Effect July 2021

Insurance Code of Conduct for BVI domestic insurers, insurance intermediaries, and loss adjusters to take effect July 6, 2021 The BVI Financial Services Commission recently announced the issuance of the Regulatory (Insurance Code of Conduct) Code, 2021 (Insurance Conduct Code)…
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BVI Approved Fund Managers and Their Ongoing Obligations

The Approved Fund Manager regime in the British Virgin Islands, which has been in force since 2012, has found tremendous success with fund managers, globally. The regime is particularly attractive for start-ups, but also well suited for established small and…
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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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