British Virgin Islands
There is no express power conferred by the BCA upon a BVI company or its directors which would permit them unilaterally to 'correct' any entry in the register of members.
Funds of an open-ended nature carrying on business in or from within the British Virgin Islands ("BVI") have long been regulated...
Although pooling orders have previously been made by the BVI Court, until now, there has been no published judgment confirming that this is a form of relief available within the BVI.
It is rare that a Court has the opportunity to put to rest a series of controversial issues in a single judgment.
The principal statute governing the formation and operation of a BVI business company is the Business Companies Act 2004, as amended (the ‘BC Act').
Ease of operation and flexibility are two of the most attractive features of a BVI business company (BVIBC). However, the death of a shareholder can cause disruption in company ...
We refer to our alert from June 2019 for guidance on the requirements of the Economic Substance (Companies and Limited Partnerships) Act, 2018 and the definitions of Legal Entity, Relevant Activity and Financial Period.
With onshore M&A procedures often cumbersome and time consuming, the British Virgin Islands continue to offer a range of flexible yet familiar structuring options to facilitate takeover transactions.
Ogier's global teams are leading offshore advisers on big-ticket, international M&A transactions. Strong deal flow continues in sectors as diverse as pharmaceuticals, events, hotels and leisure,...
The Economic Substance (Companies and Limited Partnerships) Act, 2018 (the "Act") was passed on 1 January 2019, introducing economic substance requirements...
In response to the requirements of the EU Code of Conduct Group (the Code of Conduct Group), from 1 January 2019 the British Virgin Islands implemented new legislation setting
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The ESA also amends the BVI's Beneficial Ownership Secure Search System Act, 2017 ("BOSS Act") to add to the existing requirements such that a legal entity and its Registered Agent
In a judgment handed down by the British Virgin Islands High Court on 25 July 2019, Renaissance Ventures Ltd and another were awarded rectification of the share register of a billion dollar corporate group, Comodo Holdings Ltd.
Under the ES Act, "legal entities" carrying on a "relevant activity" need to establish economic substance in the BVI.
In December 2018, the BVI Commercial Court appointed ‘soft touch' provisional liquidators to Constellation Overseas Ltd, a BVI incorporated company, and five of its BVI incorporated subsidiaries.
The issue of succession may not be a primary consideration when incorporating a company in the BVI or indeed in any jurisdiction.
The Court of Appeal has recently ruled in BTI 2014 LLC -v- Sequana SA & Ors  EWCA Civ 112 that an otherwise lawful dividend may still be found to be a transaction defrauding creditors.
The Company had attempted to continue out of the BVI as a company incorporated under the laws of Cyprus. However, the procedures required by the laws of Cyprus to secure its incorporation