Property Tax In the British Virgin Islands
In this guide, we examine property tax in the British Virgin Islands, including which types of property are subject to it, how it is calculated and when it is payable.
BVI issues further General Licence (Sanctions Regulations) for Legal Practitioners and Banking Licensees
On 13 April 2023, the British Virgin Islands (BVI) issued General Licence [No.03], 2023 (the General Licence) under: Regulation 64 of The Russia (Sanctions) (EU Exit) Regulations 2019 (as amended) as extended to the British Virgin Islands (with modifications) by The Russia (Sanctions) (Overseas Territories) Order 2020 (as amended); and Regulation 34 of the Republic of Belarus (Sanctions) (EU Exit) Regulations 2019 as modified by the Republic of Belarus (Sanctions) Overseas Territories) Order 2020; ((i) and (ii) above are together referred to in this note as the Sanctions Regulations). Download a pdf copy of our legal update on the […]
Legal Guide – The Stamps (Amendment) Act 2023 – Stamp Duty Exemption for First Time Belonger Buyers
This legal guide examines the effect of the Stamps (Amendment) Act 2022 and how first time Belonger property owners in the BVI can benefit from a stamp duty exemption.
Nichola Dunkley joins GHP
Significant changes to the BVI Business Companies Act take effect 1 Jan 2023
Overview of BVI Business Companies (Amendment) Act 2022 The BVI Business Companies (Amendment) Act, 2022 (the Amendment Act) comes into force on 1 January 2023 (the effective date). The Amendment Act makes significant changes to the existing BVI Business Companies Act (the current BCA) which are intended to ensure compliance with international standards and best practices. These changes include abolition of the bearer share regime, creation of a new requirement to file annual returns, and changes to the regime for striking off and restoration of companies. Legal Update BVI Business Companies Amendment Act 2022 Bearer shares The current BCA permits […]
Legal Update – European Court of Justice invalidates provision of the 5th Anti-Money Laundering Directive relating to public registers of beneficial ownership
In this Legal Update we review the European Court of Justice’s ruling on public registers of beneficial ownership.