Unravelling
Complexity

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Unravelling Complexity

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Are BVI companies entering a period of hyperactivity?
Corporate

Are BVI companies entering a period of hyperactivity?

The BVI Financial Services Commission (FSC) published its quarterly statistics for Q1 2018, which showed a 12 per cent year on year surge in incorporations as against the previous quarter. In fact, it was the highest rate of quarterly incorporations for nearly three years.
Harneys disrupting the offshore funds space
Investment Funds

Harneys disrupting the offshore funds space

Harneys global funds practice advises on all aspects of offshore investment funds, establishment, maintenance and restructuring both in distressed and planned scenarios. Harneys sees itself as a market disrupter in the offshore funds space; a law firm that always brings personality to the table with its clients.
BVI further amends trust company law and regulation
Regulation of trusts and trust companies

BVI further amends trust company law and regulation

The BVI has recently amended the Banks and Trust Companies Act 1990 (the BTCA) and the Company Management Act 1990 (the CMA). The amendments seeks to further modernise the BTCA and CMA regimes by taking into account new developments and providing new licence classes of trust and corporate service providers relevant to family and other closely held groups.
The British Virgin Islands’ fintech revolution
Investment Funds

The British Virgin Islands’ fintech revolution

The BVI is reportedly the second biggest cryptocurrency market in the world, according to statistics published by CoinShares, which used data collected from the 15 biggest cryptocurrency exchanges and concluded that the BVI had a trading volume in crypto assets valued at USD78.5 billion, in the first six months of 2018. This puts it just USD5.3 billion behind the USA. We also noted in a recent PwC report that two of the three largest Initial Coin Offerings (ICOs) have also been domiciled in the BVI.
Recent Uncertainty Concerning The UK's Proper Purpose Rule
Litigation, Insolvency and Restructuring

Recent Uncertainty Concerning The UK's Proper Purpose Rule

In recent years, where take-private transactions and corporate restructurings have become increasingly common, the actions of directors have come under scrutiny as they push the boundaries of the proper purpose rule. Nick Hoffman and Conal Keane examine the differing powers, and the remedies available to shareholders who object to a proposed course of action by the directors in this article originally published by Law 360.
Act now – Don’t get struck-off
Corporate

Act now – Don’t get struck-off

Following recent changes to BVI legislation, companies in the British Virgin Islands risk being struck-off by the registrar for not filing particulars of their directors.