British Virgin Islands
Funds of an open-ended nature carrying on business in or from within the British Virgin Islands ("BVI") have long been regulated...
The issue of economic substance is not a new one. More and more, modern companies coupled with new technology and trading practices challenge the notion of "economic substance" for value creation in the traditional sense ...
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The ESA also amends the BVI's Beneficial Ownership Secure Search System Act, 2017 ("BOSS Act") to add to the existing requirements such that a legal entity and its Registered Agent
The draft Economic Substance Code has now been published by the ITA and contains rules and guidance from the ITA with regard to the application of the Economic Substance (Companies and Limited Partnerships) Act 2018.
Companies will be required to confirm the above details to their Registered Agent within 6 months of the end of the first applicable financial period, as above.
The British Virgin Islands (BVI) government has enacted legislation that will require certain BVI entities carrying on specified activities to have ‘adequate substance' in the BVI.
An amendment to the existing BVI CRS legislation has been published which introduces new requirements to the existing CRS regime.
The British Virgin Islands (BVI) will shortly implement some important changes to the rules governing segregated portfolio companies (SPCs) incorporated or registered under the BVI Business Companies Act, 2004 (BCA).
International financial records recently stolen from two offshore services firms and 19 corporate registries maintained by governments were leaked to journalists ...
Information maintained on the Database will not be made available for public inspection. Only designated persons at the BVI Financial Investigation Agency will have access to the Database...
The new Regime codifies a commitment agreed by the BVI (together with other Crown dependencies and overseas territories) with the UK Government by way of an Exchange of Notes in April 2016...
SIBA and the Investment Business (Approved Managers) Regulations, 2012 set out a number of ongoing administrative requirements with which regulated entities in the British Virgin Islands must comply.
Entities wishing to carry out regulated investment business in the BVI require approval from the BVI FSC under either SIBA or, in the case of investment managers, the lighter regulatory regime...
The fees charged to BVI Business Companies by the Registry of Corporate Affairs are to increase following the first substantive review since the BVI Business Companies Act came into force in 2005.
If you are already registered with CIMA, then you will have received a reminder email by now. You must renew your registration or licence if you are already appointed as a director of an entity...
The Exempted Limited Partnership Law (the ELP Law) governs the formation of exempted limited partnerships (ELPs) in the Cayman Islands.
In an age of increasing transparency, it is vital that you use the incubation period to start preparing for a time when you will need to meet institutional-style demands in terms of your operations.
On 1 January 2016 (the Effective Date), the [BVI] Anti-money Laundering (Amendment) Regulations 2015 (the Amendment Regulations) came into effect, amending the Anti-Money Laundering Regulations 2008.
Despite the popular myth of the secrecy of BVI companies, the reality on the ground paints a different picture.
The first quarter of 2019 has seen the passage of economic substance legislation in most offshore financial jurisdictions.