Recent decisions in the BVI Commercial Court have shaped the applicability and enforcement of arbitration clauses and, notably, how they interface with BVI statutory remedies and liquidations.
The Republic of Cyprus has issued new decrees pertaining to the relaxation of restrictive measures which are in force until 30 March. Legal updates regarding these decrees, from Harneys' Cyprus Banking Group, are below…more
On January 30 2014 the board of directors of the Bank of Cyprus Public Company Ltd approved two important decisions, thereby meeting the expectations of its depositors and the general public in Cyprus for enhancing liquidity in…more
Harneys has successfully brought an action that changes the law relating to the access of the BVI Courts to enforce a foreign judgment. The Court of Appeal victory was quickly followed by a change in the civil procedure rules to…more
On January 17 2014 the Ministry of Finance published the 25th Decree, as required by Articles 4 and 5 of the Enforcement of Restrictive Measures on Transactions in Case of Emergency Law 2013. The decree…more
The BVI Financial Investigation Agency (FIA) is presently reviewing the compliance arrangements of real estate agents throughout the jurisdiction to ensure they meet the requirements of the British Virgin Islands’ (BVI)…more
This guide provides an overview of the various investment fund vehicles available in the British Virgin Islands (BVI). It concentrates on regulated investment funds and, in particular, hedge funds, since these constitute a large…more
BVI Signs "UK FATCA" -
The British Virgin Islands ("BVI") Government signed an agreement (“UK/BVI IGA”) with the United Kingdom providing for automatic exchange of financial information relating to UK tax payers who hold…more
Deficiencies in anti-money laundering compliance in Belize and Guyana have been highlighted by the Caribbean Financial Action Task Force (CFATF) and the British Virgin Islands (BVI) regulator…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
New response deadlines have been imposed for Financial Investigation Agency (FIA) information requests.
The Financial Investigation Agency Act, 2003 (FIA Act) has been amended, as of 2 December 2013, to require any entity…more
The Cayman Islands Ministry of Public Finance has reported that the jurisdiction has retained its very high “Aa3” rating from Moody’s, one of the world’s foremost financial rating agencies. Cayman has held this status non-stop…more
The British Virgin Islands’ (BVI) government entered into its twenty-fifth tax information exchange agreement (TIEA) with the Republic of Poland on 29 November 2013. The BVIPoland TIEA supplements similar treaties entered into…more
The British Virgin Islands introduced a ‘regulation light’ regime for investment managers on 10 December 2012 when the Investment Business (Approved Manager) Regulations 2012 (Old Regulations) came into force. During its first…more
This guide provides an overview of the British Virgin Islands’ Approved Manager regime. The regime came into effect on 10 December 2012 with the Investment Business (Approved Managers) Regulations, 2012 (the “Regulations”) and…more
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