News & Analysis as of September 20, 2024

Foreign Account Tax Compliance Act › British Virgin Islands

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The Foreign Account Tax Compliance Act is a United States federal statute enacted in 2010 as part of the Hiring Incentives to Restore Employment Act (HIRE Act). FATCA aims to improve compliance of U.S. taxpayers... more +

Unveiling Tax Realities: Debunking Myths about the British Virgin Islands

Conyers on 2/5/2024

In this review of taxation and the British Virgin Islands, Conyers Corporate Counsel Nicholas Kuria discusses some of the most commonly misunderstood notions relating to the use of offshore jurisdictions, with a focus on the...more

Recent Regulatory Developments Affecting BVI Mutual Funds and Private Investment Funds

Conyers on 12/30/2022

Requirement to appoint a Money Laundering Reporting Officer (“MLRO”) - Under the Anti-Money Laundering Regulations (Revised Edition 2020), as amended by the Anti-Money Laundering (Amendment) Regulations, 2022, and the...more

Tax and the British Virgin Islands: Separating Myth From Reality

Conyers on 3/25/2021

We will begin with an overview of the tax position. The British Virgin Islands has no corporate tax, capital gains tax, wealth tax, or any other tax applicable to a British Virgin Islands company. These companies are exempted...more

Cayman Islands FATCA Compliance Deadlines Extended Again

Foley Hoag LLP on 8/9/2016

The Cayman Islands announced the further extension of the 2016 registration and reporting deadlines for U.S. FATCA and U.K. FATCA (also known as U.K. CDOT), as follows...more

Common Reporting Standard and FATCA

Foley Hoag LLP on 12/18/2015

2016 Compliance Update - For the past few years, FATCA has dominated the international tax compliance landscape. As that regime continues to be phased-in, a new regime – the Common Reporting Standard (“CRS”) – will begin...more

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