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Shareholders British Virgin Islands

Conyers

Why BVI?

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The British Virgin Islands (“BVI”) are home to 361,491 active companies as of 31 December 2023. This article considers the reasons for the BVI’s popularity as a jurisdiction to structure international transactions....more

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The Effect of Non-Disclosure in Unfair Prejudice Claims

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A successful party to a buy-out order made in the course of unfair prejudice proceedings can find themselves in a difficult position, at the hands of an uncooperative respondent. Commonly, the Court will try liability and...more

Walkers

Cayman Islands Schemes of Arrangement now available for Exempted Limited Partnerships using the Restructuring Officer Regime

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A Cayman Islands scheme of arrangement is a court approved compromise or arrangement between a company and its creditors or shareholders (or classes thereof). A scheme of arrangement is frequently used to implement a...more

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Frozen Crypto Assets and a Dissolved Company: The EC Court of Appeal’s Application of Convoy Collateral

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In its seminal decision in Broad Idea International v Convoy Collateral [2021] UKPC 24 (“Convoy”), a case which had its genesis in the BVI Commercial Court, the Privy Council delivered a ground-breaking exposition of the law...more

Walkers

A Little More Time: The BVI Court Clarifies When and How It Will Exercise Its Discretion to Adjourn an Application to Appoint...

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Emerging from the COVID-19 pandemic, inflationary pressures and increasing interest rates have continued to have a negative impact on the global economy. This has caused a significant increase in the number of creditor...more

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Shares in BVI Business Companies – Avoiding a Succession Problem

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British Virgin Islands (“BVI”) business companies are often used for private wealth structuring purposes. However, where the shares in a BVI business company are registered in the name of an individual rather than a corporate...more

Conyers

Locality of a Debt

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For businesses that are family-owned and run in jurisdictions such as Hong Kong, Mainland China and Taiwan, it is common for beneficial ownership and control of the business enterprise to be vested in the shareholders of a...more

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Amendments to the BVI Civil Procedure Rules Series – Part Four

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The Revised Eastern Caribbean Supreme Court Civil Procedure Rules (the “Revised CPR”) come into force on 31 July 2023, and with them a significant change to the rules which govern service of proceedings on foreign defendants...more

Walkers

Access to Company Information and Documents under the BVI Business Companies Act

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In this article, we discuss the information and documents available to the public, to directors and to shareholders in relation to a company (a “BVI Company”) incorporated under the BVI Business Companies Act, 2004 (the “BVI...more

Conyers

Estate Administration in the British Virgin Islands: the Relevant Factors for the Removal of an Administrator or Executor

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The holding company of many corporate groups trading in Asia is frequently incorporated in an offshore financial centre such as the British Virgin Islands (“BVI”). It is therefore common for high-net-worth individuals...more

Walkers

Why MENA-based startups are choosing to incorporate in the Cayman Islands and the British Virgin Islands

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According to a report by data platform Magnitt, the total funding secured by startups in the Middle East and North Africa (MENA) amounted to approximately US$864 million in the first quarter of 2022. Startups in the UAE...more

Conyers

Getting Ready for the Big Day – Keys for Planning a Successful Virtual Trial

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British Virgin Islands (“BVI”) companies are widely used as corporate vehicles for joint ventures in Asia, especially at their pre-listing stage. There are over 450,000 active BVI companies set-up by users around the world....more

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Piercing the Corporate Veil, or ‘Alter Ego’ liability, in the Cayman Islands, Bermuda, and the British Virgin Islands

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Creative attempts to ‘pierce the corporate veil’ sometimes come before the Courts of Bermuda, the British Virgin Islands, and the Cayman Islands. In some cases, an attempt is made to establish personal liability on the...more

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10 Things Lawyers Should Know About BVI Transactions

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The British Virgin Islands is one of the world’s leading international financial centres and is well known for its flexible commercial legislation and English-based legal system. BVI companies feature prominently in all...more

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Resealing of Foreign Grants of Probate in the British Virgin Islands

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Where a person has died and left assets in the British Virgin Islands (BVI), it is not possible to deal with those assets without first obtaining a grant of representation from the relevant local Court. The rule applies to...more

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