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Important Amendments to the BVI Business Companies Act Take Effect on January 1, 2023

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O'Neal Webster
folder_openArticles, Christopher Simpson, Corporate & Commercial
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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 Trust Law

BVI Introduces New Reserved Power Trust Legislation

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O'Neal Webster
folder_openArticles, Christopher McKenzie, Trusts & Estates
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By Christopher McKenzie for Trusts & Trustees, Oxford University Press Background—why reserved power legislation has been enacted Many prospective settlors, especially those from jurisdictions or family backgrounds in which trusts do not feature,1 the establishment of a lifetime trust can…
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BVI Financial Services Commission Announces New Arrangement for Regulated Oversight

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O'Neal Webster
folder_openArticles, Banking & Finance, Corporate & Commercial, Investment Funds & Regulatory, Kerry Anderson
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The BVI Financial Services Commission issued a press release on June 28, 2022, informing practitioners of a significant change to its internal structure. A new Authorisation and Supervision Division (ASD) will replace the current Investment Business, Insurance, and Banking, Insolvency…
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New Rules for Charters and Small Cruise Ships Navigating Virgin Islands Waters

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O'Neal Webster
folder_openA. Hermia Tench, Articles, Shipping & Admiralty
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THE CRUISING AND HOME PERMIT ACT 2021 The British Virgin Islands Cruising and Home Permit Act, 2021 was passed in October 2021, replacing the Cruising and Home Permit Act (Cap203). This new piece of legislation regulates charter boat owners and…
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BVI FSC Recognises Fusang Exchange as its First Digital Securities and Asset Exchange

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