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BVI Financial Services Commission Announces New Arrangement for Regulated Oversight

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

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

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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VASP Act 2022 BVI_View of Tortola

British Virgin Islands: A Country of Proud Landowners

By Willa Tavernier, O’Neal Webster BVI. What was once a group of islands thought to be settled by accident rather than by design, has now, rather aptly, been termed “the treasure under our feet.” The latter phrase was used by JR O’Neal, a noted…
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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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AMENDMENTS TO THE BVI’S PRIVATE TRUST COMPANY REGULATIONS 2021

Since the BVI’s Financial Services (Exemptions) Regulations, 2007 (as amended, “the PTC Regulations”) came into effect, the BVI has become the jurisdiction of choice for private trust companies. Over one thousand such companies have so far been established. Background The…
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