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Explainer: New Rules for BVI Non-Belonger Landholders

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O'Neal Webster
folder_openArticles, Jamealya Fahie, Property & Business
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The BVI (British Virgin Islands) Ministry of the Environment, Natural Resources and Climate Change (the Ministry) adopted new Non-Belonger Landholder Licensing process rules. Automatic rental permission is one of several welcome policy changes. The updated procedures—Policy No. 1 of 2023—were…
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New Annual Financial Return Filing for BVI Companies Commences 2024

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O'Neal Webster
folder_openArticles, Christopher Simpson, Corporate & Commercial, Kerry Anderson
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Amendments to the BVI Business Companies Act, 2004, and BVI Business Companies Regulations, which took effect on January 1, 2023, require BVI companies to file an annual financial return (AFR) containing specified financial information. The filing must be made with…
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Virgin Islands Shipping Registry to Become a Statutory Body

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O'Neal Webster
folder_openA. Hermia Tench, Articles, Shipping & Admiralty
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The Virgin Islands Shipping and Maritime Authority Act, 2023 successfully received assent on October 16, 2023. It is now imminent that The Virgin Islands Shipping Registry will become independent of the Central Government of the Virgin Islands and carry out…
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How to Save Your BVI Company From Insolvency

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O'Neal Webster
folder_openArticles, Author, Corporate & Commercial, Investment Funds, Regulatory & Digital Assets, Kerry Anderson
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The world has witnessed the failure of several banks over the past months, starting with Silicon Valley Bank and Signature Bank in the United States, followed by the collapse of the 167-year-old global firm Credit Suisse. These bank failures can…
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British Virgin Islands reinstated to EU’s list of cooperative jurisdictions for tax purposes

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O'Neal Webster
folder_openArticles, Author, Christopher Simpson, Corporate & Commercial, Firm, News
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We are pleased to announce that following a meeting of the European Union’s Economic and Financial Affairs Council on October 17, 2023, the British Virgin Islands (BVI) has been removed from the EU’s list of non-cooperative tax jurisdictions for tax…
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Illusory trusts in the British Virgin Islands and section 86 of the BVI’s Trustee Act

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O'Neal Webster
folder_openArticles, Christopher McKenzie, Trusts & Estates
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The laws of the BVI The principles of English common law and equity form part of British Virgin Islands (BVI) law and would be applied by the BVI’s courts, except to the extent that they have been modified by statute.…
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O’Neal Webster Managing Partner Vanessa King Elected to STEP Worldwide Council

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O'Neal Webster
folder_openArticles, Firm, Trusts & Estates, Vanessa King
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October 2, 2023 – BRITISH VIRGIN ISLANDS – O’Neal Webster is pleased to announce that Managing Partner Vanessa King has been elected as a STEP Worldwide Council representative for the Caribbean and Latin America Region. In this role, she represents…
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Christopher Simpson Named to Lead O’Neal Webster’s Corporate & Commercial Department

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O'Neal Webster
folder_openChristopher Simpson, Corporate & Commercial, Firm, News
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TORTOLA, British Virgin Islands, 8 June 2023 – O’Neal Webster is pleased to announce the appointment of Partner Christopher Simpson as Head of the firm’s Corporate & Commercial Department. In this role he will oversee the growth and development of…
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BVI Statutory Mergers: A valuable tool for business combinations and restructurings globally

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O'Neal Webster
folder_openArticles, Christopher Simpson, Corporate & Commercial
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The BVI statutory merger process is recognized globally and has been used effectively for many years. However, today, more global entities increasingly use BVI statutory mergers in high-value cross-border transactions. This shift substantiates the BVI’s corporate regime, which is valued…
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