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.
Legal update – British Virgin Islands – Peer Review of the Automatic Exchange of Financial Account Information 2022
In this legal update we examine the Global Forum’s peer review of the Automatic Exchange of Financial Account Information 2022
Legal Update – Foreign Based Commercial Recreational Vessels – No Trade Licence Required
This legal guide examines changes to the requirement for foreign based commercial recreational vessels to require a trade licence.
Legal Guide – The Stamps (Amendment) Act 2022 – 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.
Legal Guide – Labour Tribunal Decisions – Unfair Dismissal
This legal guide examines recent awards made by the Labour Tribunal in relation to unfair dismissals in the context of summary dismissals and redundancies.