By Simon Schilder
After much anticipation, the Securities and Investment Business Act, 2010 ("SIBA") came into force in the British Virgin Islands ("BVI") on 17 May 2010.
By Joycelyn Murraine
The British Virgin Islands is a United Kingdom Overseas Territory located approximately 60 miles east of Puerto Rico in the Caribbean.
By Gareth Thomas
The purpose of this article is to provide an overview of the authorised representative role that was introduced in the BVI by the Securities and Investment Business Act, 2010 ("SIBA").
By Raymond Davern
There are now four major offshore multinational law firms with dedicated trust and private client departments in the British Virgin Islands ("BVI"), three of whom have established trust and private client departments in one or more other offshore jurisdictions.
By Mark Forté
In a brave and decisive judgment handed down on 20th September 2010, the Eastern Caribbean Supreme Court (on appeal from the BVI Commercial Court) has decided two issues demanding clear and unequivocal guidance, one of which ahead of the Supreme Court of England and Wales.
The offshore hedge fund industry has typically suffered from a lack of relevant offshore case law. This has changed.
By Simon Schilder
Following the completion of an industry consultation, the Securities and Investment Business Act, 2010 ("SIBA") came into force in the British Virgin Islands ("BVI") on 17 May 2010.
The Securities and Investment Business Act, 2010 (SIBA) was brought into force in the British Virgin Islands (BVI) on May 17, 2010 (other than Part II dealing with the public issue of securities).
By Simon Schilder
After much anticipation, the BVI has enacted the Securities and Investment Business Act, 2010.
For many years the trust industry has used Private Trust Companies (PTCs) in situations in which a family trust or group of family trusts was involved.
Since the British Virgin Islands ("BVI") invested in a decision to upgrade its corporate framework through the introduction of the Mutual Funds Act, 1996, the Insolvency Act, 2003, and the BVI Business Companies Act, 2004, it has become one of the most popular jurisdictions for corporate transactional work as well as for the incorporation of companies and funds.
It goes without saying that 2008 was a year of turmoil for the Hedge Fund industry as liquidity dried up and share prices fell. The chart below tells the story, which starts with the US housing crisis in 2005.
The British Virgin Islands’ Government has introduced, in its new corporate legislation, innovative new rules addressing conflicts of interest issues for directors in joint ventures.
The absence of any Takeover Code has sometimes made it difficult for directors of British Virgin Islands (BVI) companies and their advisers to determine what are the applicable rules when a BVI company is faced by a takeover offer. In basic terms, a takeover can be described as the acquisition by a person of all of the shares in a company save for those held by the offeror.
On 1 January 2005, a new company law regime came into effect in the British Virgin Islands. The new Act, entitled the BVI Business Company Act, has been modelled on the territory’s well-known International Business Companies Act, as amended, and includes several new features to expand its appeal to international investors and business professionals, while also providing a suitable framework for domestic BVI companies.