Kerry Anderson

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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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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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New Regime for BVI Closed-End Funds Brings Major Changes

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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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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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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Evolving World Economy in BVI

Sailing Into the Headwinds of an Evolving World Economy

The world economy continues to grow, not only in complexity but in competitiveness. Although the British Virgin Islands is recognized as a significant contributor to global wealth, the country continues to face headwinds in the race to keep pace with evolving trends…
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Navigating the British Virgin Island’s Economic Substance (Companies and Limited Partnerships) Act, 2018

By Kerry Anderson, Partner, Head of Funds & Regulatory Department The European Union continues to push out new rules aimed at offshore financial centers. Specifically, the Code of Conduct Group (CCG) within the EU’s Economic and Financial Affairs (ECOFIN) Council…
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O’Neal Webster Expands Presence to US with New York City Office

October 9, 2018 – TORTOLA, British Virgin Islands – O’Neal Webster is pleased to announce its expansion to New York City, New York, being the first British Virgin Islands law firm to stake a physical presence in the city. Headquartered…
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