Investment Funds & Regulatory
The British Virgin Islands is among the most attractive jurisdictions in the world for establishing offshore funds, enjoying modern and favourable company and tax laws, various types of funds, and a regulatory framework specifically designed and maintained to attract funds and investors. While the BVI Financial Services Commission (FSC) regulates most BVI funds, they can be adapted to a variety of needs and customized to suit a particular investment style, strategy, or target investor class. BVI funds are not limited in the type of assets they may hold or in which they may invest.
O’Neal Webster ‘listens to clients’ needs, is flexible and reasonable, and resolves issues in a timely manner‘. -Legal500
Our Investment Funds & Regulatory Department lawyers, led by Kerry Anderson, advise international clients on complex, multi-jurisdictional corporate and commercial matters. They are deeply experienced in the initial structuring of investment vehicles or amendments to investment vehicles, and often provide continuing legal advice and support throughout fund operations. Clients include U.S. and EU-based fund managers, closed-ended funds, open-ended funds, public funds, crypto funds, and segregated portfolio company funds.
O’Neal Webster’s digital assets practice attorneys have a wide breadth of experience in the virtual assets space. The team has helped clients navigate the growing and dynamic world of setting up and issuing tokens, including several ICOs, and has assisted various investment managers with the launch of various crypto-focused funds. The team is known for providing valuable and actionable advice on the BVI’s legislative and regulatory landscape, including the recent virtual assets service providers legislation. The team also works closely with our dispute resolution team on contentious fintech matters.
Service and Success
The Investment Funds & Regulatory Department handles general investment fund applications, complex applications for licensing under the BVI’s Financing and Money Services Act, Securities and Investment Business Act, and the Bank and Trust Companies Act.
Among the team’s many successes are obtaining BVI licenses for the only group of foreign funds to offer services in the BVI; helping one of only three money service providers in the BVI obtain a license and offer ongoing advice; and assisting a client in obtaining licensing for the provision of Forex business, which activity is very tightly regulated by the BVI Financial Services Commission.
Unique Value and Experience
Lawyers in this discipline also regularly advise a number of banks, trust companies, insurance companies, funds, fund managers, and other financial services firms on their regulatory and compliance obligations. They maintain good relationships with the BVI Regulator, and have forged strong bonds with key persons at the BVI Financial Services Commission over the years.
Notably, Mr. Anderson sits on the Alternative Investment Fund Managers Directive Focus Group, created by the BVI Financial Services Commission to advise on issues related to the European Union Alternative Fund Managers Directive. He is also appointed to government committees, including the Financial Services Task Force Sub-Committee on Immigration and Labour Issues created by the BVI Premier.
Partner Christopher Simpson has been involved in numerous IPOs, including on AIM, TSX, NASDAQ, SGX and the LSE. He has also worked ground breaking deals, including one of the first ever court approved corporate arrangement schemes in the BVI and one of the largest single asset real estate financings in China.