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  4. BVI Governor's reminder on General Licence for legal service fees under Russia and Belarus regime designations

BVI Governor's reminder on General Licence for legal service fees under Russia and Belarus regime designations

13 Oct 2023
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On 28 September 2023, the Governor of the BVI issued a formal reminder concerning General Licence No. 3 of 2023, which was issued on 13 April 2023. This General Licence authorises the payment of legal service fees to individuals who have been designated under either the Russia or Belarus regime, provided that strict adherence to its specified terms and conditions is observed.

The Governor's Office prompts relevant institutions that this General Licence is set to expire on 13 October 2023. All instances of General Licence usage must be reported to the Governor's Office by no later than 20 October 2023.

More detailed information regarding the licence and reporting requirements, can be found here.

Our blog post on the Virgin Islands General Licence No. 03, 2023 can be found here.

Authors
Aki Corsoni-Husain
Partner | Funds & Regulatory | London
Mirza Manraj Harneys front portrait image on a grey background
Mirza Manraj
Counsel | Funds & Regulatory | Hong Kong
Kimberly Seagojo Harneys front portrait image on a grey background
Kimberly Seagojo
Senior Associate | Funds & Regulatory | British Virgin Islands