Walkers is interested to note that businesses have been increasingly taking advantage of the statutory provisions relating to mergers in the British Virgin Islands ("BVI"). These provisions are set out in the BVI Business Companies Act, 2004 (as amended) (the "BCA"). The merger provisions in the BCA are proving popular given that they afford a simple, relatively quick and low cost way of merging companies that does not require the involvement of the courts. This article seeks to summarise the statutory merger process under the BCA and highlights some of the key points that clients should keep in mind when embarking on the merger process.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
