The British Virgin Islands (BVI) is once again considering
proposals to bring into force provisions which permit the making of administration orders in relation to BVI companies. Any person with a credit exposure to a BVI...more
Although not normally regarded as being in the first tier of traditional offshore jurisdictions, 2015 is shaping up to be an exciting year for financial services in Anguilla (or “British Anguilla”, as it sometimes likes to...more
On 21 January 2015 the Privy Council handed down its decision in Nilon Limited v Royal Westminster Investments SA  UKPC 2 clarifying the power of the courts to rectify the share register of a BVI company under section...more
The Anguillan government has published a bill for a new Insolvency Act for public review and consultation.
Reform of Anguillan insolvency law is long overdue. Personal bankruptcy is presently...more
The record keeping obligations applicable to BVI companies and partnerships were amended in November 2012 and again in September 2014. The changes have been introduced following OECD Peer Reviews of the Territory. The Reviews...more
The British Virgin Islands’ (BVI) Arbitration Act 2013 came into force on 1 October 2014. It is a landmark piece of legislation which is expected to propel alternative dispute resolution in the BVI into high gear. The BVI is...more
The British Virgin Islands’ (BVI) government has announced by proclamation that the Arbitration Act 2013 will come into force on 1 October 2014. The stated intention has been to bring the Act into force at the same time as...more
The Hong Kong Court of First Instance confirmed in its recent decision in Wong Ming Bun v Wang Ming Fan  1 HKLRD 1108 that in any claim by way of derivative action on behalf of a company incorporated in the British...more
On 19 March 2014 the Commercial Court handed down its ruling in C v W Inc (BVIHC (Com) 2013/149). In that case a shareholder holding more than 30 per cent of the company’s shares tried to exercise its power to requisition a...more
On 17 December 2013 the British Virgin Islands House of Assembly had the third and final reading of the new Arbitration Act 2013, which came into force on 23 January 2014.
The new Arbitration Act was part of the work...more
On 17 December 2013 the British Virgin Islands House of Assembly had the third and final reading of the new Arbitration Act 2013. The new Act will come into force on a date to be announced. The following analysis is based on...more
It has long been popular for high net-worth people who are not domiciled in the United Kingdom (“non-doms”) to form an offshore company, often in the British Virgin Islands (“BVI”), for the purposes of holding property in the...more
British Virgin Islands companies are generally free to dispose of their assets on such terms as the directors think fit, but where the assets being disposed of constitute 50% or more of the company’s total assets, then...more